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The Malaysian Capital Controls: A Success Story?

Athukorala, Premachandra


This paper contributes to the debate on the use of temporary controls on capital outflows as a crisis resolution measure by examining the outcome of Malaysia's radical response to the 1997-98 financial crisis. The analysis suggests that carefully designed temporary capital controls were successful in providing Malaysian policymakers a viable setting for aiding the recovery process through the standard Keynesian therapy. Capital controls also assisted banking and corporate restructuring by...[Show more]

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
Source: Asian Economic Papers
DOI: 10.1162/asep.2008.7.1.31


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