Capital Account Liberalization Indices: A Review of Literature

Anjala Kalsie; Jappanjyot Kaur Kalra; Jyoti Dhamija

doi:10.6000/2371-1647.2020.06.01

Authors

Anjala Kalsie Faculty of Management Studies, University of Delhi, Delhi 110007, India
Jappanjyot Kaur Kalra Faculty of Management Studies, University of Delhi, Delhi 110007, India
Jyoti Dhamija Faculty of Management Studies, University of Delhi, Delhi 110007, India

DOI:

https://doi.org/10.6000/2371-1647.2020.06.01

Keywords:

Capital Controls, Capital Account Liberalization, de jure, de facto and Hybrid measures

Abstract

The complexities of the global financial system have been increasing and the same is managed by implementation of capital controls by the nations. Therefore, it is important to understand what controls are and how the nations implement them. The aim of this paper is to analyze and understand the capital controls indices developed so far to measure financial openness or liberalization. Broadly the measures developed so far are categorized into de facto, de jure and hybrid measures. Each measure constructed has used different scale and hence the intensity and description of each measure is different also they cover different countries.

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