Hiro Ito

TL;DR: In this paper, a new index is proposed to measure the extent of openness in cross-border financial transactions, based on the information from the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER).

TL;DR: In this article, the authors investigate whether financial openness leads to financial development after controlling for the level of legal development using a panel encompassing 108 countries over the period 1980 to 2000, and find that trade openness is a prerequisite for capital account liberalization while banking system development is a precondition for equity market development.

TL;DR: The authors investigate the medium-term determinants of the current account using a model that controls for factors related to institutional development, with a goal of informing the recent debate over the existence and relevance of the savings glut.

TL;DR: In this paper, a panel data analysis encompassing 108 countries and twenty years ranging from 1980 to 2000 was conducted to explore several dimensions of the financial sector, focusing on the links between capital account liberalization, legal and institutional development, and financial development, especially in equity markets.

TL;DR: This article investigated how the trilemma policy mix affects economic performance in developing countries and found that greater monetary independence can dampen output volatility, while greater exchange rate stability is associated with greater output volatility.