Effects of current and capital account convertibility: Convertibility and the supply side of the economy -- Current account convertibility and the supply side of the economy -- Current account convertibility -- Capital account convertibility -- Convertibility and macroeconomic stability -- When to introduce current account convertibility: General preconditions -- Appropriate exchange rate -- Adequate international liquidity -- Sound macroeconomic policies -- Incentives and ability to respond to market prices -- Should convertibility be established quickly? -- Transitional arrangements

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