The Research On The Openness Of China Capital Account

The Development of The theory of Sequencing has an important influence on how to arrange the order of economic activities to minimize the risk of economic reform; we can use the Sequencing Theory for reference on the sequence selection of the openness of Capital Account which is the one of the most important issues which many countries including China are facing with. The success of the openness of Capital Account is critical to both the short-term and long-term development and growth of a country's economy. How to leverage limited resources to effectively arrange the sequence of the openness of Capital Account, and the Sequencing Theory can provide strong theoretical support and guidance in this aspect. This paper is to study and discuss this topic from the perspective of Sequencing Theory.The prolegomenon part mainly introduces the background and purport, a summary of literature research, the research method and the research logic as well. The background is that Sequencing Theory recently has become a hot research area in the international academia, at the same time, the openness of Capital Market is one of the most important issues many countries especially the developing countries are facing with. The research logic of this paper is just to explore the most effective and up-to-date part of Sequencing theory which focuses on the issues of Capital Account openness, and combine it with the experiences and learning from other countries' openness practice as well as the China's internal and external economical environment, research on the current situation, trend and the problems which China is facing, and finally provide the corresponding strategic suggestions on the sequence selection of the openness of China Capital Account.In the first Chapter, this paper gives the definition and conception of the openness of Capital Account, then gives a review and study on the latest development of Sequencing Theory in the international academia and emphasizes the contribution of Sequencing Theory to the sequence selection of the openness of China Capital Account. The Up to date development of sequencing theory has below main issues on the Openness of Capital Account: the order between Capital Account Openness and the macro economic policy and framework reform; the order between Capital Account Openness; the order inside the Capital Account.The second Chapter mainly introduces the international background and some basic infrastructure and preconditions, and summarizes out some common sequences of the openness. At the same time, several representative countries are studied as samples. The process of international Capital Account Openness is a process which develops from capital controlling to the gradually openness. From the international practices, some preconditions are required for the openness of Capital Account while the individual sequence selection is quite different, some of them chose the quick and one-step-to-aim model, some others chose step-by step while some chose the mixed model, the learning from this countries' practices gives a good reference to China.The third chapter studies the history and current status of the openness of China Capital Account as well as the problems or obstacles which are lurking...