Capital Market Liberalization
Task Force Chairs
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José Antonio Ocampo
Professor of Professional Practice at Columbia University and former Minister of Finance of Colombia
Columbia University
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Joseph Stiglitz
President
Initiative for Policy Dialogue (IPD)
Despite a lack of evidence, capital market liberalization was pushed forward by the IMF during the 1980s and 1990s as a means of stimulating economic growth in developing countries. The Asian economic crisis and the recent global financial crisis of 2008-2009 illustrated the importance of understanding the deeper role of capital market liberalization in the globalization debate. IPD's Capital Markets Liberalization Task Force aims to build a comprehensive and balanced view of alternative approaches to capital market liberalization by questioning conventional assumptions linking liberalization to growth and stability, while weighing the costs and benefits of different policy interventions.
Upcoming Events
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No upcoming events currently
Past Events
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The Role of the State in Economic Growth in East Asia
03/31/16 Meeting
Beijing, China
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IPD co-hosts Meeting on Capital Account Liberalization and its International Lessons for China in Beijing
09/16/15 Meeting
Beijing, China
Latest Publications
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Closing Developing Countries’ Capital Drain
04/03/16 Link
Joseph Stiglitz, Hamid Rashid
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Capital Account Regulations, Foreign Exchange Pressure, and Crisis Resilience
09/24/13 Working Paper
Bilge Erten, José Antonio Ocampo
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Navigating Capital Flows in Brazil and Chile
06/29/12 Working Paper
Kevin Gallagher, Brittany Baumann
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How the US Can Fix Its QE2 Problem
11/18/10 Link
Stephany Griffith-Jones
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The Case for Re-Regulating Capital Accounts
11/12/10 Link
José Antonio Ocampo
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Capital Market Liberalization and Development
06/01/08 Book
Joseph Stiglitz (Editor), José Antonio Ocampo (Editor)
Despite a lack of evidence, capital market liberalization was pushed forward by the IMF during the 1980s and 1990s as a means of stimulating economic growth in developing countries. The Asian economic crisis and the recent global financial crisis of 2008-2009 illustrated the importance of understanding the deeper role of capital market liberalization in the globalization debate. Developing countries that opened their capital accounts and liberalized their domestic markets on the advice of the IMF are now more vulnerable to the risks and volatility of global markets.
IPD's Capital Markets Liberalization Task Force aims to build a comprehensive and balanced view of alternative approaches to capital market liberalization by questioning conventional assumptions linking liberalization to growth and stability, while weighing the costs and benefits of different policy interventions.