In the 1990s the idea that capital account liberalization represented a mechanism for disciplining the conduction of the monetary policy in the search for price stability was developed. Based on this argument a new version of Gruben e McLeod's (2001) model and an empirical analysis were made for...

The effects of the capital account liberalization on the fiscal policy: an evaluation of the recent Brazilian case. In recent years there has been some agreement that capital account liberalization have provided restriction on economic policies. This paper provides some evidence for Brazil. It...