Chinn-Ito Capital Account Openness (KAOPEN)Chinn-Ito 资本账户开放度指数 (KAOPEN)

KAOPEN is a de jure index of a country's degree of capital-account openness, covering 185 economies from 1970 to 2023. It is built from the binary IMF AREAER indicators on cross-border financial transactions; higher values mean fewer restrictions on capital flows.

The companion variable ka_open is the same measure rescaled to the 0–1 range. The index is one of the most widely used measures of financial globalization in political economy and is a core input for analysing sunk-cost / capital-control risk.

KAOPEN 是衡量一国资本账户开放程度的法理（de jure）指数，覆盖 1970–2023 年共 185 个经济体。它基于 IMF《汇兑安排与汇兑限制年报》(AREAER) 中关于跨境金融交易的二元指标构建，取值越高代表对资本流动的限制越少。

配套变量 ka_open 是同一度量重新缩放至 0–1 区间的版本。该指数是政治经济学中应用最广的金融全球化度量之一，也是分析沉没成本／资本管制风险的核心输入变量。