Capital account liberalisation in developing countries implications for South Africa

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dc.contributor.advisorKahn, Brianen_ZA
dc.contributor.authorFeketha, Templeton Zolileen_ZA
dc.date.accessioned2014-10-01T07:56:43Z
dc.date.available2014-10-01T07:56:43Z
dc.date.issued1994en_ZA
dc.description.abstractThe purpose of this dissertation is to access the desirability of controls on capital movements in South Africa. In line with the general international tendencies towards liberalisation, in recent years there has been increased pressure to lift exchange controls. Despite these pressures, some economists believe there is a need for the maintenance of controls. These arguments are based on issues relating to the inherent desirability of controls as well as the appropriate preconditions for liberalisation. The paper investigates the preconditions for capital account liberalisation, drawing on international experience, and considers whether or not they have been fulfilled in South Africa. In addition, the proper sequencing of capital opening itself is examined. A literature survey is the main research method used, utilising the literature on financial reforms of some less developed countries. The countries of the Southern Cone of Latin America (Argentina, Chile and Uruguay) are used to illustrate examples of failed experiences. In the light of the lessons learned from the above, the major results are that (1) South Africa's capital controls should be abolished, although gradually; (2) macroeconomic stability is the key to successful liberalisation; and (3) a fairly liberal domestic financial system is a prerequisite for external liberalisation.en_ZA
dc.identifier.apacitationFeketha, T. Z. (1994). <i>Capital account liberalisation in developing countries implications for South Africa</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/7838en_ZA
dc.identifier.chicagocitationFeketha, Templeton Zolile. <i>"Capital account liberalisation in developing countries implications for South Africa."</i> Thesis., University of Cape Town ,Faculty of Commerce ,School of Economics, 1994. http://hdl.handle.net/11427/7838en_ZA
dc.identifier.citationFeketha, T. 1994. Capital account liberalisation in developing countries implications for South Africa. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Feketha, Templeton Zolile AB - The purpose of this dissertation is to access the desirability of controls on capital movements in South Africa. In line with the general international tendencies towards liberalisation, in recent years there has been increased pressure to lift exchange controls. Despite these pressures, some economists believe there is a need for the maintenance of controls. These arguments are based on issues relating to the inherent desirability of controls as well as the appropriate preconditions for liberalisation. The paper investigates the preconditions for capital account liberalisation, drawing on international experience, and considers whether or not they have been fulfilled in South Africa. In addition, the proper sequencing of capital opening itself is examined. A literature survey is the main research method used, utilising the literature on financial reforms of some less developed countries. The countries of the Southern Cone of Latin America (Argentina, Chile and Uruguay) are used to illustrate examples of failed experiences. In the light of the lessons learned from the above, the major results are that (1) South Africa's capital controls should be abolished, although gradually; (2) macroeconomic stability is the key to successful liberalisation; and (3) a fairly liberal domestic financial system is a prerequisite for external liberalisation. DA - 1994 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 1994 T1 - Capital account liberalisation in developing countries implications for South Africa TI - Capital account liberalisation in developing countries implications for South Africa UR - http://hdl.handle.net/11427/7838 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/7838
dc.identifier.vancouvercitationFeketha TZ. Capital account liberalisation in developing countries implications for South Africa. [Thesis]. University of Cape Town ,Faculty of Commerce ,School of Economics, 1994 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/7838en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentSchool of Economicsen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherEconomicsen_ZA
dc.titleCapital account liberalisation in developing countries implications for South Africaen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMAen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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