Industrial countries in particular prefer to deal with the matter on a case by case basis. Hence the onus is on the individual economy. One can offer three rules. Or indirectly by lifting regulations that support a non-competitive behaviour in the market. Rule No. 2.
Governments have a crucial role in macro-economic management.
We have many examples, including lately, that ignoring this basic tenet is a prescription for financial crisis, due to loss of credibility in the system. Changes in this regard should not be abrupt but gradual. Implementing it gradually means also having a publicly known time-table and a definition of the final destination. This is necessary in order to leave a reasonable amount of time for the required adjustment by the business sector, and render credibility to that policy. Your chances to get foreign direct investment are probably greater if you don t maintain exchange controls.