Abstract
In October last year, the UK Government announced the abolition of exchange controls. Before that date, there was one obvious reason why domestic capital at least was not perfectly mobile between UK and foreign assets. It is too early to say how profound an effect the abolition of exchange control has had on the integration of domestic and foreign capital markets, but the direction in which the system has moved is clear enough. This has stimulated special interest in this country in the implications of enhanced mobility. Within the Treasury, it has stimulated various pieces of analysis on which the present paper is based.
The authors are grateful for helpful comments from colleagues at the Treasury; the paper remains their personal responsibility and should not be interpreted as expressing views on behalf of their Department.
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© 1982 Roy A. Batchelor and Geoffrey E. Wood
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Britton, A., Spencer, P. (1982). Exchange Rates, Interest Rates and the Mobility of Capital. In: Batchelor, R.A., Wood, G.E. (eds) Exchange Rate Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-16863-7_7
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DOI: https://doi.org/10.1007/978-1-349-16863-7_7
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