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      Question

      How can global financial centers (GFCs) contribute to

      capital account convertibility?
      A By restricting foreign investment Correct Answer Incorrect Answer
      B By advocating for policies that restrict capital account convertibility Correct Answer Incorrect Answer
      C By providing a platform for cross-border financial transactions Correct Answer Incorrect Answer
      D By promoting financial restrictions and limitations. Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Providing a platform for cross-border financial transactions: GFCs often offer a wide range of financial services, including foreign exchange, trade finance, and international payment systems, that facilitate cross-border financial transactions. These services can help to make it easier and more efficient for individuals and institutions to move capital across borders, reducing transaction costs and increasing the speed and volume of cross-border flows.

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