资本账户开放条件：基于国别经验的比较

Prerequisites of Capital Account Liberalization：Comparative Research on Experiences of Different Countries

对发展中国家开放资本账户成功及失败的案例对比分析表明：开放资本账户必须具备一系列的前提条件．包括健康有效的金融体系以及谨慎的金融监管。资本账户开放是中国的必然选择，但必须坚持循序渐进的原则。综合考虑资本账户开放与金融改革，以良好的宏观经济政策和健全的金融体系作为资本账户开放的制度保障。

The paper comparatively studies the successful experiences and failing lessons of developing country in their courses of opening the capital account. And the comparison shows that certain prerequisites should be provided with capital account liberalization, including healthy and efficient financial system and cautious financial supervision. Chinese capital account liberalization is the end-result, but it should be implemented step by step, go along with financial reform and be based on good micro-economic policies and sound financial system.