Economic and Financial Review


Central Bank of Nigeria


Capital account, Capital account liberalization, Theory and policy


Developing countries as well as other member countries of the IMF have been encouraged to open up to foreign capital flows through the liberalization of their capital account transactions. Capital account liberalization is embedded in international standards and codes as best practice necessary for developing countries engaging in inter-governmental and non-governmental international relations. It also represents the systemic removal of administrative and legal controls on international capital transactions.

Author Bio

Obadiah Mailafia is the Deputy Governor, Economic Policy in the Central Bank of Nigeria.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Mailafia, O. (2006). Capital account liberalization: reflections on theory and policy. CBN Economic and Financial Review, 44(4), 11-29.

Included in

Economics Commons



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