Fuller capital account opening in China and India: mind the gap
نویسنده
چکیده
The inevitably large influence of fast-growing China and India on global financial markets creates a global interest in their getting their capital account liberalisation right (Tseng and Cowen, 2006; Winters and Yusuf, 2007; Bussière and Mehl, 2008). Both economies have set further capital account opening as their medium-term policy goal (RBI, 2006; SAFE, 2008). An understanding of the challenges faced by policymakers requires robust assessments of the current degree of financial integration and possible directions of tensions across a range of key financial markets in the two largest emerging markets in the world.
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