Israel was one of the first countries to realize that a small economy cannot grow without being open to and participating in the global economy. As early as the 1960s we set out on the path of liberalization of international trade.
But the program of exposing the economy to abroad in the mid-1980s and the  BIS Review 121/2006  1  liberalization of the foreign currency market and capital flows initiated by the Bank of Israel in the 1990s were the most significant aspects of this process.