Skip to content
Reserve Bank of Australia
  • Monetary Policy
  • Market Operations
  • Payments & Infrastructure
  • Financial Stability
  • Banknotes
  • Financial Services
  • About Us
  • Media Releases
  • Speeches
  • Publications
  • Statistics
  • Chart Pack
  • Research
  • Archives
  • Education
  • Careers
  • Q&A
  • Contact Us
In RDP
  • About RDPs
  • Advanced Search for RDPs
  • 2021–2025
  • 2011–2020
  • 2001–2010
  • 1991–2000
  • 1981–1990
  • 1971–1980
  • 1969–1970
Tags
asset quality, balance sheet, banking, banknotes, bonds, business, business cycle, capital, cash rate, central clearing, China, climate change, commercial property, commodities, consumption, COVID-19, credit, cryptocurrency, currency, digital currency, debt, education, emerging markets, exchange rate, export, fees, finance, financial markets, financial stability, First Nations, fiscal policy, forecasting, funding, global economy, global financial crisis, history, households, housing, income and wealth, inflation, insolvency, insurance, interest rates, international, investment, labour market, lending standards, liquidity, machine learning, macroprudential policy, mining, modelling, monetary policy, money, open economy, payments, productivity, rba survey, regulation, resources sector, retail, risk and uncertainty, saving, securities, services sector, technology, terms of trade, trade, wages
In 2002
  • RDP 2002-08: Currency Crises and Macroeconomic Performance
  • RDP 2002-07: An Exploration of Marginal Attachment to the Australian Labour Market
  • RDP 2002-06: Output Gaps in Real Time: Are They Reliable Enough to Use for Monetary Policy?
  • RDP 2002-05: Real-time National Accounts Data
  • RDP 2002-04: Labour Market Adjustment in Regional Australia
  • RDP 2002-03: International Financial Liberalisation and Economic Growth
  • RDP 2002-02: Australian Use of Information Technology and its Contribution to Growth
  • RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy

Research Discussion Paper – RDP 2002-03 International Financial Liberalisation and Economic Growth

Ben McLean and Sona Shrestha

January 2002

  • Abstract
  • Download the Paper 92KB

Contents

  • Introduction
  • Capital Flows to Developing Countries: Trends During the Past Three Decades
  • How Does Financial Liberalisation Affect Economic Growth? A Review of the Theoretical Literature
  • The Link between Capital Account Liberalisation and Economic Growth: A Brief Review of the Empirical Literature
  • Capital Flows and Growth: Some New Results
  • Concluding Remarks
  • Appendix A: Data
  • References

We thank David Gruen for helpful comments and take responsibility for any remaining errors. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the Reserve Bank of Australia.

Related Information

  • Subscribe to RDP updates
Back to top

Sign up for email and SMS alerts

Subscribe

Follow us

  • Facebook
  • X
  • LinkedIn
  • YouTube
  • Instagram
  • Flickr

Affiliate sites

  • Banknotes
  • Unreserved
  • Museum
  • Council of Financial Regulators
  • Australian Foreign Exchange Committee
  • H.C. Coombs Centre

The Reserve Bank of Australia supports the Foundation for Children.

The materials on this webpage are subject to copyright and their use is subject to the terms and conditions set out in the Copyright and Disclaimer Notice. © Reserve Bank of Australia, 2001–2025. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of Australia as the Traditional Custodians of this land, and recognises their continuing connection to country. We pay our respects to their Elders, past and present. Aboriginal and Torres Strait Islander peoples should be aware that this website may contain the names, images and voices of people who are now deceased.

References

  • For Media
  • Judicial Notice
  • Privacy
  • Accessibility
  • Procurement
  • Glossary
  • Schedules & Events
  • Report a Vulnerability
  • Scams
  • Public Interest Disclosure
  • Access to Information