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The most optimistic interpretation that can be placed on the crisis was that it proved that "crony capitalism" is incompatible with open capital markets: that politicians who try to rig the market in favor of relatives or friends will eventually have to pay an economic price.
We thought globalisation meant open capital markets and trade.
Operating an open capital account, Indonesia was always vulnerable to panic.
Open capital accounts push Romania and Poland, previously in the safer half of the index, to the second- and third-most-vulnerable positions overall.Some readers wrote in to suggest that an open capital account should not count against an economy.
On currency, he said Australia experimented with almost every type of exchange rate structure before finally adopting a floating exchange rate and an open capital account.
It's a long way from there to the kind of open capital market China would need for its currency to become a reserve asset.
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The Asian financial crisis had just begun, and opinion soon started to shift against wide-open capital markets.
The five BRICS make common cause complaining about the volatility of commodity and currency markets and the perils of too-open capital markets.
Trips stemmed partly from the prevailing belief during the 1990's that the "American model" -- free trade, wide-open capital markets and strong intellectual property protection -- was the sure way to global prosperity.
The survey shows that financial crises are often associated with a recently opened capital account.
Yesterday was almost entirely about the Opening (capital "o" essential) Ceremony (capital "c" ditto), scheduled to begin at the unfeasibly late hour of 9pm – unfeasible, certainly, if you recall that Bruce Springsteen had the plug pulled on him a couple of weeks back.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com