In this paper, he refers to four schools of thought on free capital flows, and it is instructive for us to consider them in some detail. The first school is in favour of an open capital account and is based on the text-book case for a more efficient allocation of capital.
In conclusion, this is the first significant amendment to the Bank of Israel Law in its new format 1/2  BIS central bankers' speeches  since the law was legislated through this committee seven years ago, under the committee chairman of the time, who is also the committee chairman now.