TY - BOOK ID - 84658600 TI - Do Inflows or Outflows Dominate? Global Implications of Capital Account Liberalization in China AU - Bayoumi, Tamim. AU - Ohnsorge, Franziska. AU - International Monetary Fund. PY - 2013 SN - 1475546122 1475591446 147555592X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Capital KW - China KW - Economic conditions. KW - Exports and Imports KW - Finance: General KW - Investments: Bonds KW - Investments: Stocks KW - Current Account Adjustment KW - Short-term Capital Movements KW - General Financial Markets: General (includes Measurement and Data) KW - Pension Funds KW - Non-bank Financial Institutions KW - Financial Instruments KW - Institutional Investors KW - International economics KW - Finance KW - Investment & securities KW - Capital account liberalization KW - Stock markets KW - Capital account KW - Stocks KW - Bonds KW - Balance of payments KW - Financial markets KW - Financial institutions KW - Stock exchanges KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84658600 AB - This paper assesses the implications of Chinese capital account liberalization for capital flows. Stylized facts from capital account liberalization in advanced and large emerging market economies illustrate that capital account liberalization has historically generated large gross capital in- and outflows, but the direction of net flows has depended on many factors. An econometric portfolio allocation model finds that capital controls significantly dampen cross-border portfolio asset holdings. The model also suggests that capital account liberalization in China may trigger net portfolio outflows as large domestic savings seek to diversify abroad. ER -