9310625 QUINN This project has two purposes. The first is to develop a systematic comparative measure of international financial regulation among developed nations. The second is to understand why nations change laws to liberalize or restrict their international current accounts. The project is important because no comparative measure of financial openness is available. The development of the global financial market is one of the most significant events of the postwar world economy, and its domestic and international sources are poorly understood. The project will begin with the coding of the International Monetary Fund's Annual Report on Exchange Arrangements and Exchange Restrictions. Each country's laws regarding financial movements will be evaluated and scored. The resulting measure of financial openness will be reported descriptively, and then examined in explanatory pooled, cross-section, times series models. ***
