Small States and Capital Account Liberalization

Global integration – the lowering of barriers to the movement of goods and services, capital and labour across borders – is one of the most important issues confronting Small States in the new millennium. However, the existing literature focuses, in the main, on developed countries or large developing countries. This book extends the literature by deriving measures of capital account liberalisation in small states and explores, through the use of panel data techniques, the impact of the removal of capital account restrictions on economic growth and volatility in these states.