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1、-toacountry'scapitalfactormobility,absorptionandtransformationcapabilitieswithacountry'scapitalelementsisequallyimportant.Inthethirdsection,anoverviewofthedifferentcountriesofChile,Japan,Thailand,thethreebasiceconomicconditionstypicalpracticeofcapitalaccou
2、ntliberalization.Overviewoftheopeningofthecapitalaccountanditseconomicgrowth.Inpractice,underdifferenteconomicconditions,theeconomicgrowtheffectofcapitalaccountliberalizationisdifferent.whenacountry'smacroeconomicstability,withgoodeconomicbasicconditions,a
3、countryeasilybenefitfromthethecapitalaccountliberalization,toachievethedesiredeconomicgrowth.Boththeoryandpracticehaveshownthateconomicgrowtheffectsofcapitalaccountrequiresacertainamountofeconomicbasetoreachacertainthresholdconditions.Onthisbasis,inthefour
4、thpart,thispaperidentifythethresholdoftheeffectsoftheeconomicgrowththrogh81countriesofthesampledata.Chinn-Itoindexisusedtorepresenttheopeningofthecapitalaccountintoadegree,considerthebasiceconomic,financial,tradeandreflectsthecountryinstitutiondifferentsys
5、temlevelindicatorsindicators.Hansenthresholdregressionmodelisuesdtoidentifythethresholdandthesampleisdividedintofivegroups.Theroleofcapitalaccountliberalizationineconomicgrowthisdifferentindifferentgroupings.Onlymeetacertainthresholdconditions,capitalaccou
6、ntopeningwillpromoteeconomicgrowth.Thepresenceofthresholdeffectstosomeextentexplainstheresearchandempiricalreasonsforthedifferences.Thecapitalaccountofthedifferencesintheeconomicgrowtheffectofcapitalaccountliberalizationbetweenthedifferentcountriescausedby
7、theeconomicbase.Thefifthpartofthispaper,onthebasisofthetheoryofeconomicgrowth,thispaperintroducereflectcountrydifferencesinfinancialandinstitutionlevelfactorscoefficientandobtaineundertheclosedconditionandanopenconditionwithimpactfactorsofeconomicgrowthdyn
8、amicequations.Thenthispaperestablishetherelationshipequa-tionofaverageoutputgrowthof0-Ttimeunitlaborandcapitalaccountthedegreeofopennessindicators.Modelanalysisfoundthatthereisanon-linearrelationshipbetweenec