The purpose of this paper is to analyze the effects of economic openness and increasing capital mobility on the economic growth. The author argues that "anti-globalization" views are based on incomplete evidence and tend to ignore important historical evidence. In the pare the author discusses the relationship between market-distortions and economic growth according to the economic theory. The author also deals with the debate on the "sequencing" of economic reforms and the effectiveness of controls on capital inflows based on the Chilean 1991-1998 experience.
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