Influence And Control Of International Capital Flows

Based on the critical assimilation of achievements in the research into the international capital flow ever since the appearance of commercialism, this thesis analyses various demonstrations of the international capital flow in different historical stages. This thesis expQunds the globalization, and liberalization of the international capital flow through a vertical analysis of the effects of the international capital flow in several financial crises. This thesis focuses on how the international transfer of shorterm fund influences the material economy and symbolic economy and their consequences. This thesis also focuses on the research into how to operate the control of capital flow in the process of financial deepening and opening up. In addition, the coordination of the capital flow among multiple countries with the development of the international monetary system is explored in this thesis. Due to the fact that all developed countries have completed the convertibility of the capital account, the opening up and reforming of the capital account now has evolved into an economic problem exclusive to developing countries. However, the non? coordination of the developed countries is the fundamental external cause of the financial crisis in developing countries. Based on this argument, the thesis asserts that the policy of global coordination is mainly directed against the developed countries. Although every nation has a role to maintain the stability of the global financial and economic development, it is the developed countries that should bear the main responsibility. As for how to resolve the problems facing Chines financial opening up, the thesis points out the principle should be that the concurrent development of liberalization and standardization; that is, the consistent enhancement of the liberalization of the capital market and the resistance of the financial crisis from the domestic financial system.