von Hagen, Jürgen; Zhang, Haiping - Zentrum für Europäische Integrationsforschung (ZEI), … - 2006
consequences of capital account liberalization. We show that financial opening facilitates the inflows of cheap foreign funds and …, capital account liberalization also has important distributional consequences. Specifically, it may be impossible to use … public transfers to fully compensate the loss of those negatively affected by capital account liberalization. This explains …