**Table 5.3: Financial Openness Index*: selected developed and developing countries, 1997**

|**Open****||**Largely Open****|**Partially Closed****||**Largely Closed****|
|---|---|---|---|---|---|
|Arentina|178|Croatia<br>154|Bahamas The|136|Banladesh<br>121|
|g<br>Australia|.<br>1.77|<br>.<br>Ecuador<br>1.54|,<br>Belize|.<br>1.44|g<br>.<br>Barbados<br>1.28|
|Austria|1.92|Honduras<br>1.56|Benin|1.48|Bhutan<br>1.19|
|Bahrain|1.73|Israel<br>1.59|Botswana|1.48|Brazil<br>1.19|
|Belgium|1.88|Mongolia<br>1.56|Bulgaria|146|Ethiopia<br>112|
|<br>Bolivia|<br>1.79|<br> <br>Philippines<br>1.59|<br>Burkina Faso|.<br>1.49|<br>.<br>India<br>1.20|
|Canada|1.92|<br>Poland<br>1.54|Burundi|1.39|Malawi<br>1.26|
|Denmark|1.92|Slovak Republic<br>1.58|Cameroon|1.41|Malaysia<br>1.34|
|Egypt, Arab Rep.|<br>1.81|Slovenia<br>1.50|Cape Verde|1.39|Morocco<br>1.27|
|El Salvador|1.91|Turkey<br>1.52|Chile|1.43|Pakistan<br>1.31|
|Estonia|1.88||China|1.37|Syrian Arab Rep.<br>1.20|
|Finland|1.83||Colombia|1.38||
|France|1.73||Congo, Dem. Rep.|1.42||
|Germany|1.84||Costa Rica|1.48||
|Greece|1.91||Czech Republic|1.48||
|Guatemala|1.73||<br>Dominican Republic|1.49||
|Guyana|1.72||<br>Ghana|1.43||
|Iceland|1.74||Hungary|1.49||
|Ireland|1.93||<br>Indonesia|1.46||
|Italy|1.84||Korea, Rep.|1.42||
|Jarnaica|1.76||Lesotho|1.41||
|Japan|1.73||Mali|1.49||
|<br>Kuwait|1.77||Malta|1.40||
|Latvia|1.88||Moldova|1.46||
|Lithuania|1.85||Mozamnbique|1.41||
|Luxembourg|1.93||<br>Namibia|1.33||
|Mauritius|1.82||Papua New Guinea|1.36||
|Mexico|1.69||Romania|1.48||
|Netherlands|1.87||Russian Federation|1.43||
|New Zealand|190||South Africa|144||
|<br>Nicaragua|.<br>1.82||<br>Sri Lanka|.<br>1.43||
|<br>Norway|1.83||Thailand|1.46||
|<br>Panama|1.90||Tunisia|1.39||
|Paraguay|1.81||Ukraine|1.36||
|Peru|1.90|||||
|Portugal<br>|1.84<br>|||||
|Singapore<br>|1.78<br>|||||
|Spain|1.82|||||
|Sweden|1.86|||||
|Switzerland|1.88|||||
|<br>Trinidad and Tob|ago<br>1.67|||||
|United Kingdom<br>|<br>1.86<br>|||||
|United States|1.85|||||
|Uruguay|1.77|||||
|<br>Venezuela|184|||||
|<br>Zambia|.<br>1.79|||||
|_(*)_<br>**_(** ) _**|**_Financial Ope_**<br>Carla Inclan,_T_<br>and is based<br>_Arrangements a_<br>**_Open:_**Little or<br>**_Largely Open_**<br>documentary su<br>**_Patially Close_**<br>is usually grant<br>**_Largely Closed_**<br>and inward tran|**_nness Index:_**the scoring draws<br>_he Origins of Financial Openne_<br>on information contained in<br>_nd Exchange Restrictions,_199<br>no regulation for outward/inwa<br>**_:_**Some regulations are exerc<br>pport but without the need of go<br>**_d:_**Regulation and governmenta<br>ed.<br>**_:_**Substantial restrictions and go<br>sactions.|on the methodology origi<br>_ss: A Study of Current and_<br>International Monetary<br>8. For a full explanation of<br>rd transactions with a gene<br>ised on outward and in<br>vernmental approval.<br>l approval is required for o<br>vernmental approval is re|nally deve<br>_Capital A_<br>Fund,_An_<br>the scorin<br>rally nondi<br>ward tran<br>utward an<br>quired and|loped by Dennis Quinn and<br>_ccount Liberalization,_1997,<br>_nual Report onfxchange_<br>g, see Appendix.<br>scriminatory environment.<br>sactions with the need of<br>d inward transactions and it<br>seldom granted for outward|

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