Abstract
The academic and political debates on the issue of capital controls versus capital account liberalization in developing countries seem to be never-ending. When the Bretton Woods institutions were founded a vast majority was in favour of control, at least for the option of control, although the global commercial financial markets did not play a significant role for developing countries at that time. Keynes was not the only critic of unfettered capital flows in the postwar world economy (Boughton 2002). He promoted the priority of trade, while the supposed volatile commercial capital flows were seen as a disturbing, not a supporting, factor for the real economy.
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© 2008 Jan Priewe
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Priewe, J. (2008). Capital Account Management or Laissez-faire of Capital Flows in Developing Countries. In: Arestis, P., de Paula, L.F. (eds) Financial Liberalization and Economic Performance in Emerging Countries. Palgrave Macmillan, London. https://doi.org/10.1057/9780230227743_3
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DOI: https://doi.org/10.1057/9780230227743_3
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