Tharindi Gunaratna Nugawela Final Thesis.pdf (1.18 MB)
Download file

Revisiting the Evidence on Capital Openness Using a New Indicator

Download (1.18 MB)
posted on 31.08.2021, 04:10 authored by THARINDI RANGITHA GUNARATNA NUGAWELA
This thesis explores knowledge in the capital openness domain by introducing new concepts of potential capital openness and the efficiency of capital openness and measuring them. Potential capital openness is proposed as a new index of measuring capital openness. The new indices are applied to revisit the evidence on the macroeconomic trilemma theory, and evidence on a dilemma is revealed. This thesis also explores the income distribution effects of capital openness and reveals that outward capital openness exacerbates inequality while inward capital openness reduces inequality. The extent of the income distribution effect varies with the per-capita income level.


Campus location


Principal supervisor

Laura Puzzello

Additional supervisor 1

Qingyuan Du

Additional supervisor 2

Xibin Zhang

Additional supervisor 3

Jakob Madson

Year of Award


Department, School or Centre



Doctor of Philosophy

Degree Type



Faculty of Business and Economics