In these circumstances, capital account liberalization looks off the table.
These trial reforms, while still relatively modest, are significant in large part because they show a way forward for capital-account liberalization.
With the revolution in information technology and financial liberalization, capital moves in cyberspace at a pace and frequency unknown before.
In terms of capital markets, interest rate liberalization and a more market-oriented exchange rate are central.
In the early 1990s, the Asian miracle economies received a large inflow of foreign private capital on account of the financial liberalization they undertook and their economic success.
The economic stabilization and liberalization program lowered trade barriers, eliminated restrictions on capital flows, and opened the economy to foreign investment.
Germany's power and telecommunications industries, where Hartmann has directed 56% of Veba's capital spending since 1995, are feeling the harsh winds of liberalization and competition, creating relentless pressure on prices and margins.
Key reforms that would open up the country's financial sector such as the liberalization of interest rates and the opening of the capital account have been put on the back burner, and the timeline for their realization is uncertain.
We've got to look at more liberalization in the securities industry, so companies can raise capital more easily.
ChinaScope Financial's Mr. Zhu said Beijing will also push ahead with further deregulation and liberalization in the railway industry so as to attract more private capital to invest in the sector.
Also, monetary policy liberalization and increased competition in the banking system will be key to improving credit and capital access for dynamic private companies.
应用推荐