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How effective are capital controls? evidence from Malaysia

Athukorala, Premachandra; Jongwanich, Juthathip

Description

This paper examines the role of capital controls as a macroeconomic policy tool in light of the Malaysian experience. It consists of an econometric analysis of quarterly data over the period 1990-2010 using newly constructed capital inflow and outflow policy indexes as well as analytical narratives of episodes of controls imposed on inflows (1994) and outflows (1998-1999). The findings suggest that well-targeted controls have the potential to tame both short-term capital inflows and outflows...[Show more]

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
URI: http://hdl.handle.net/1885/69818
Source: Asian Development Review: Studies of Asian and Pacific Economic Issues

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