{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,30]],"date-time":"2026-10-30T19:07:23Z","timestamp":1793387243333,"version":"4.5.0"},"reference-count":10,"publisher":"Cambridge University Press (CUP)","issue":"4","license":[{"start":{"date-parts":[[2014,11,7]],"date-time":"2014-11-07T00:00:00Z","timestamp":1415318400000},"content-version":"unspecified","delay-in-days":18634,"URL":"https:\/\/www.cambridge.org\/core\/terms"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Can. j. econ. polit. sci."],"published-print":{"date-parts":[[1963,11]]},"abstract":"<jats:p>The world is still a closed economy, but its regions and countries are becoming increasingly open. The trend, which has been manifested in both freer movement of goods and increased mobility of capital, has been stimulated by the dismantling of trade and exchange controls in Europe, the gradual erosion of the real burden of tariff protection, and the stability, unparalleled since 1914, of the exchange rates. The international economic climate has changed in the direction of financial integration and this has important implications for economic policy.<\/jats:p>\n                  <jats:p>My paper concerns the theoretical and practical implications of the increased mobility of capital. In order to present my conclusions in the simplest possible way, and to bring the implications for policy into sharpest relief, I assume the extreme degree of mobility that prevails when a country cannot maintain an interest rate different from the general level prevailing abroad. This assumption will overstate the case but it has the merit of posing a stereotype towards which international financial relations seem to be heading. At the same time it might be argued that the assumption is not far from the truth in those financial centres, of which Zurich, Amsterdam, and Brussels may be taken as examples, where the authorities already recognize their lessening ability to dominate money market conditions and insulate them from foreign influences. It should also have a high degree of relevance to a country like Canada whose financial markets are dominated to a great degree by the vast New York market.<\/jats:p>","DOI":"10.2307\/139336","type":"journal-article","created":{"date-parts":[[2006,6,17]],"date-time":"2006-06-17T19:18:38Z","timestamp":1150571918000},"page":"475-485","source":"Crossref","is-referenced-by-count":1480,"title":["Capital Mobility and Stabilization Policy Under Fixed and Flexible Exchange Rates"],"prefix":"10.1017","volume":"29","author":[{"given":"R. A.","family":"Mundell","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"56","published-online":{"date-parts":[[2014,11,7]]},"reference":[{"key":"S0315489000030036_ref002","article-title":"A Proposal for Financial Integration in the Atlantic Community","author":"Ingram","year":"1962","journal-title":"Joint Economic Committee print"},{"key":"S0315489000030036_ref006","first-page":"120","article-title":"Flexible Exchange Rates","volume":"LIII","author":"Caves","year":"1963","journal-title":"American Economic Review"},{"key":"S0315489000030036_ref003","first-page":"112","article-title":"Equilibrium under Fixed Exchange Rates","volume":"LIII","author":"Johnson","year":"1963","journal-title":"American Economic Review"},{"key":"S0315489000030036_ref008","first-page":"153","article-title":"The International Disequilibrium System","volume":"XIV","year":"1961","journal-title":"Kyklos"},{"key":"S0315489000030036_ref007","article-title":"The Appropriate Use of Monetary and Fiscal Policy for Internal and External Stability","volume":"IX","year":"1962","journal-title":"IMF Staff Papers"},{"key":"S0315489000030036_ref011","volume-title":"The Gold Losses","year":"1962"},{"key":"S0315489000030036_ref010","first-page":"227","article-title":"The Monetary Dynamics of International Adjustment Under Fixed and Flexible Exchange Rates","year":"1960","journal-title":"Quarterly Journal of Economics"},{"key":"S0315489000030036_ref004","first-page":"189","article-title":"European Economic Integration and the Development of a Single Financial Center for Long-Term Capital","volume":"90","author":"Kindleberger","year":"1963","journal-title":"Weltwirtschaftliches Archiv"},{"key":"S0315489000030036_ref005","doi-asserted-by":"publisher","DOI":"10.2307\/2228441"},{"key":"S0315489000030036_ref009","first-page":"509","volume":"XXVII","year":"1961","journal-title":"Employment Policy Under Flexible Exchange Rates"}],"container-title":["Canadian Journal of Economics and Political Science"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.cambridge.org\/core\/services\/aop-cambridge-core\/content\/view\/S0315489000030036","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2022,10,5]],"date-time":"2022-10-05T07:53:39Z","timestamp":1664956419000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.cambridge.org\/core\/product\/identifier\/S0315489000030036\/type\/journal_article"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[1963,11]]},"references-count":10,"journal-issue":{"issue":"4","published-print":{"date-parts":[[1963,11]]}},"alternative-id":["S0315489000030036"],"URL":"https:\/\/doi.org\/10.2307\/139336","relation":{},"ISSN":["0315-4890","1920-7220"],"issn-type":[{"value":"0315-4890","type":"print"},{"value":"1920-7220","type":"electronic"}],"subject":[],"published":{"date-parts":[[1963,11]]}}}