The triumph of democracy and open markets was supposed to usher in a new era of freedom and opportunity. It has, but not for everybody. Economic inequality is on the rise around the world1. As the...
The newest version of the Chinn-Ito financial openness index (earlier discussed here), extending up to 2006, has just been posted. Here's the series for Argentina and for Venezuela.Figure 1:...
Some people have the impression that financial capital zips to wherever the returns are highest. Maybe that's the case. But I'm not sure.Recall that one of the definitions of financial capital...
As I discussed in earlier posts, China retains some policy autonomy by virtue of the presence of capital controls. A recent working paper by Ma and McCauley attempts to quantify how binding the...
What do our indicators tell us?Figure 1: Patterns in Capital Account Openness in 2005. Source: Chinn and Ito, "A New Measure of Financial Openness" (2007) [pdf].Globalization is a phenomenon...
