Just published, Chinn-Ito index, available here<\/a>. Normalized to [0,1], with 1 being most open, here\u2019s the world.<\/p>\n Here\u2019re average values for country groupings.<\/p>\n The description of the current dataset is\u00a0Ito and Chinn (2025)<\/a>.<\/p>\n Hiro Ito<\/a> and I constructed the index because there were few, widely available and consistently updated measures of financial openness at the time, with the exception of Quinn\u2019s (APSR<\/em>, 1997)<\/a>\u00a0measure, which at the time was more limited in coverage. Individual dummy variables based on the IMF\u2019s (old)\u00a0de jure<\/em>\u00a0classification of controls (on exchange rates, export proceeds, capital account, current account) didn\u2019t prove informative in one of my early empirical analyses of financial development (Chinn, 2004,\u00a0ungated version here<\/a>). The Chinn-Ito index, based on the aforementioned IMF de jure classifications, was converted into a single index using by taking the first principal component (essentially \u2014 the capital account component is smoothed), and was developed for a project to assess how financial openness correlates with financial development, published in\u00a0JDE<\/em>\u00a0(2006)<\/a>\u00a0(with lots of help from friends, including Ashok Mody, Antu Panini Murshid).<\/p>\n Quinn, Schindler and Toyoda (IMF Econ Rev<\/em>\u00a02011)<\/a> provide an early comparison of measures. More recent comparisons are in Graebner et al. (2021)<\/a> and Erten et al. (2021)<\/a>. In the aggregate, the measures move together.<\/p>\n<\/p><\/div>\n <\/p>\n![\"\"](\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/05\/KAOPEN_map_2022.png\")
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