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Research Activities

Research Projects

FY 2007/2008 Research Topic: 4-21
Liberalization of Capital Movements in Developing Countries


During the past quarter century, developing countries have embarked on the deregulation of international capital transactions. However, the rapid inflows and outflows of capital made possible by the dismantling of the regulations have increased the amplitude of their business cycles by occasionally creating currency crises.

Some developing countries have tightened capital controls in response. As a basis for correctly evaluating the welfare effect of the liberalization of capital movements, this study will investigate the process of deregulation of capital controls and the extent of international capital movements in developing countries.


Members of the Research Project


  • The results of the study will be published in Ajia Keizai (Japanese) in 2008.