Trends of capital account management in the world and China

Abstract

The object of the study is the international flow of capital, with a focus on capital account management in the world and China. The study aims to identify trends and directions of development of capital account management in the world and in China. Methods of comparative analysis, synthesis, generalization are used. The author proposes an evolution of the model of cross-border capital account management, amalyzes problems of current macro-prudential capital account management in China, and makes suggestions for its improvement. The author concludes that the full convertibility of the capital account and the abolition of capital control should not be the end of capital flow management reform in China and other emerging market countries. In the future, a cross-border capital flow management system should be formed with a focus on macroprudential foreign currency management and capital control as a supplement.