Q. Chinn-Ito Index?

The Chinn-Ito index (KAOPEN) is an index measuring a country's degree of capital account openness. The index was initially introduced in Chinn and Ito (Journal of Development Economics, 2006). KAOPEN is based on the binary dummy variables that codify the tabulation of restrictions on cross-border financial transactions reported in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER).

Now, the index is updated to 2021.

The dataset is available in the Excel or STATA format (STATA 15 dataset format). The data file contains the Chinn and Ito index series for the time period of 1970-2021 for 182 countries. A complete list of the countries and their data availability and summary statistics are presented in the "Note on the Chinn-Ito Financial Openness Index."

When you use the index, please acknowledge the following paper as the data source:

Chinn, Menzie D. and Hiro Ito (2006). "What Matters for Financial Development? Capital Controls, Institutions, and Interactions," Journal of Development Economics, Volume 81, Issue 1, Pages 163-192 (October).