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|z 9781451975451
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|a 1934-7456
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|a Prasad, Eswar.
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|a Putting the Cart Before the Horse? :
|b Capital Account Liberalization and Exchange Rate Flexibility in China /
|c Eswar Prasad, Qing Wang, Thomas Rumbaugh.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2005.
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|a 1 online resource (32 pages)
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|a IMF Policy Discussion Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a Rumbaugh, Thomas.
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|a Wang, Qing.
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|a IMF Policy Discussion Papers; Policy Discussion Paper ;
|v No. 2005/001
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/003/2005/001/003.2005.issue-001-en.xml
|z IMF e-Library
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