Ma, Guonan and McCauley, Robert N. (2014) Financial openness of China and India: Implications for capital account liberalisation. Bruegel Working Paper 2014/05, May 15 2014. [Working Paper]
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Official URL: http://www.bruegel.org/publications/
Abstract
We gauge the de-facto capital account openness of the Chinese and Indian economies by testing the law of one price on the basis of onshore and offshore price gaps for three key financial instruments. Generally, the three measures show both economies becoming more financially open over time. Over the past decade, the Indian economy on average appears to be more open financially than the Chinese economy, but China seems to be catching up with India in the wake of the global financial crisis. Both have more work to do to open their capital accounts.
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| Item Type: | Working Paper |
|---|---|
| Subjects for non-EU documents: | EU policies and themes > External relations > EU-Asia-general > East and Southeast Asia EU policies and themes > External relations > EU-Asia-general > South Asia |
| Subjects for EU documents: | UNSPECIFIED |
| EU Series and Periodicals: | UNSPECIFIED |
| EU Annual Reports: | UNSPECIFIED |
| Series: | Series > Bruegel (Brussels) > Working Papers |
| Depositing User: | Phil Wilkin |
| Official EU Document: | No |
| Language: | English |
| Date Deposited: | 15 May 2014 16:57 |
| Number of Pages: | 15 |
| Last Modified: | 16 Feb 2020 15:05 |
| URI: | http://aei.pitt.edu/id/eprint/50843 |
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