Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China »
Series: IMF Policy Discussion Papers
Author(s): Eswar Prasad , Qing Wang , and Thomas Rumbaugh
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2005
Keywords: Capital controls, China, exchange rate regime, financial sector reforms, capital account, capital inflows, capital account liberalization, capital flows, financial sector weakness
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 indep...