TERMIUM Plus®

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CAPITAL ACCOUNT CONVERTIBILITY [1 record]

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Record 1 2004-12-17

English

Subject field(s)
  • Currency and Foreign Exchange
CONT

A working definition of capital account convertibility (CAC) is ‘the freedom to convert local financial assets into foreign financial assets and vice versa at market determined rates of exchange.

French

Domaine(s)
  • Politique monétaire et marché des changes
CONT

Les années quatre-vingt et quatre-vingt-dix sont marquées par un processus d'ouverture financière internationale qui a d'abord touché les pays développés avant d'atteindre les économies dites émergentes. Considérant les gains d'efficience liés à cette intégration financière, le Fonds Monétaire International fait désormais de la convertibilité du compte de capital un objectif central de son action. Or, la multiplication des crises monétaire et bancaire depuis la fin des années quatre-vingt tend à remettre en cause le bien-fondé de cet objectif ultime de la mondialisation.

Key term(s)
  • CCC

Spanish

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