Time‑Varying Estimates on the Openness of the Capital Account in Korea and Taiwan

Organisation for Economic Co-operation and Development2026-04-11 收录

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How open are the capital accounts in Korea and Taiwan? Has there been a trend towards more financial openness during the 1980s? This paper aims at answering both questions by estimating a model of interest determination first outlined by Edwards and Khan, in an extension suggested by Haque and Montiel. Use is made of a time-varying parameter...