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- W3121373084 abstract "This paper reviews the issues involved in moving towards greater exchange rate flexibility and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate a more independent monetary policy, providing a useful buffer against domestic and external shocks. At the same time, weaknesses in China’s financial system suggest that capital account liberalization poses significant risks and should be a lower priority in the short term. This paper concludes that greater exchange rate flexibility is in China’s own interest and that, along with a more stable and robust financial system, it should be regarded as a prerequisite for undertaking a substantial liberalization of the capital account." @default.
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- W3121373084 date "2005-01-01" @default.
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- W3121373084 title "Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China" @default.
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- W3121373084 doi "https://doi.org/10.5089/9781451975451.003" @default.
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