The first question concerns the economic purpose of capital controls.

What makes this possible, as you noted, is the absence of capital controls.

What this really means is a fixed exchange rate system without capital controls.

There is another option of course: open tariffs and capital controls.

The government is also working on a strategy for the gradual lifting of capital controls.

With no capital control market players will do this en masse.

A fixed exchange rate regime should be viewed as a tool in capital control.

Pro capital control economists have made the following points.

Another area where hysteresis phenomena are found is capital controls.

Companies in the European Community have often complained about capital controls.

This period was the first time capital controls had been endorsed by mainstream economics.

There are times when capital controls can work, and when they would be disastrous.

There have been several shifts of opinion on whether capital controls are beneficial and in what circumstances they should be used.

If progress is made on removing capital controls, it could cause an exodus of funds from certain countries.

The unspoken idea of the hour is "capital controls."

Malaysia has since lifted most of the capital controls.

There are many ways to evade the capital controls.

Outside Thailand there are no signs that other central bankers will impose similar capital controls.

Capital controls could then be useful as a tool for shielding India from those problems.

This sort of capital control is still in effect in both India and China.

Helleiner offers extensive additional reading for those with a deep interest in the history of capital controls.

At last week's meeting he called those steps "preferable to a return to capital controls or a slowdown in economic reform."

In Malaysia, officials said capital controls would give the Government the chance to repair the economy.

And its capital controls, though reviled by investors, kept the financial system flush with cash.

As an added bonus, the economic orthodoxy of the day favoured open markets, no capital controls.