The raison d’être of capital account convertibility, as a highly desirable policy goal, is its promise of most efficient allocation of capital and the benefits that it, as a result, brings both to capital importing and exporting countries.
After all, structural issues were our main focus for years before the pandemic hit, and issues like the labour market effects of automation or low productivity growth may well keep us busy even after the war has ended and inflation is at bay. As such, the workshop also contains one session dedicated to labour markets, and another dedicated to productivity and firm dynamics.