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Who Needs to Open the Capital Account?

Who Needs to Open the Capital Account?

by Olivier Jeanne, Arvind Subramanian, John Williamson

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Most countries emerged from the Second World War with capital accounts that were closed to the rest of the world. Since then, a process of capital account opening has occurred, with the result that all developed and many emerging-market countries now have capital accounts that are both de facto and de jure open, while many developing countries also have de facto

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