Capital Controls: A Cure Worse Than the Problem?

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Free capital movements played an important part in the economic integration and globalisation of the nineteenth century. By the end of the century capital flows were on a remarkable scale. The modern use of capital controls dates back to the 1930s. Professor Capie analyses historical experience with capital controls, in Britain and elsewhere, and reviews the theory. He concludes that such controls are damaging and that there is no case for reviving them, as some economists have suggested and as anti-globalisers would wish. ...

Capital Controls: A Cure Worse Than the Problem? 2002, Institute of Economic Affairs, London

ISBN-13: 9780255365062

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