Go with the Flows? Capital Account Liberalisation and Poverty

5 April 2001 | Report

Report examining the links between capital account liberalisation (CAL) and poverty reduction. Co-published by Bretton Woods Project and Oxfam. Report is downloadable in 3 parts.

Part 1: From Capital Account Liberalisation to the Real Economy: Putting People First

This is a summary of an expert group meeting held at Oxford University in January 2001. The meeting concluded that whilst the means of controlling flows needed to be reconsidered, the objective of controlling them to enhance their productive use in the economy was still essential.

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Part 2: Capital Account Liberalisation and Poverty

Paper prepared for the meeting by Alex Cobham, Oxford University, providing a summary of the literature on the growth impacts of capital account liberalisation. It also reviews the impacts of capital account liberalisation on government spending and considers whether financial liberalisation brings benefits to the poor through greater employment opportunities and access to credit.

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Part 3: Comments on Capital Account Liberalisation and Poverty

Presentations by Dr Louis Kasakende, (Bank of Uganda), Filomeno S. Sta Ana III (Action for Economic Reforms, Philippines), Aart Kray (World Bank), William Laralde (Group of 24), Mark Allen (IMF) and Kamal Malhotra (UNDP). This section also contains a listing of web resources on this issue.

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Note a full transcript of the January 2001 meeting will be available in May