1. Introduction -- 2. Costs and benefits of capital account liberalization for developing countries : theoretical and empirical evaluation -- 3. Financial liberalization and economic policy in Brazil in 1990-2009 -- 4. Recent changes in capital controls and foreign exchange rules in Brazil -- 5....

This paper aims at analyzing the relationship between capital account liberalization,economic performance and macroeconomic stability in Brazil. For this purpose,besides a revision in the literature, the paper develops an empirical study on the effects of financial liberalization in Brazil on a...