Malaysian Capital Controls : Macroeconomics and Institutions /

We analyze the capital controls imposed in Malaysia in September 1998. In macroeconomic terms, these controls neither yielded major benefits nor were costly. At the same time, the stock market interpreted the capital controls (and associated events) as favoring firms with stronger political connecti...

Mô tả đầy đủ

Chi tiết về thư mục
Tác giả chính: Tamirisa, Natalia
Tác giả khác: Johnson, Simon, Kochhar, Kalpana, Mitton, Todd
Định dạng: Tạp chí
Ngôn ngữ:English
Được phát hành: Washington, D.C. : International Monetary Fund, 2006.
Loạt:IMF Working Papers; Working Paper ; No. 2006/051
Truy cập trực tuyến:Full text available on IMF
Miêu tả
Tóm tắt:We analyze the capital controls imposed in Malaysia in September 1998. In macroeconomic terms, these controls neither yielded major benefits nor were costly. At the same time, the stock market interpreted the capital controls (and associated events) as favoring firms with stronger political connections, and some connected firms reportedly received advantages immediately following the crisis. Analysis of financial accounts indicates that connected firms outperformed unconnected firms before the 1997-98 crisis but not afterward. After the crisis, connected firms were either not supported as much as the market had expected or the benefits they received were not manifest in their published accounts.
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Mô tả vật lý:1 online resource (51 pages)
Định dạng:Mode of access: Internet
số ISSN:1018-5941
Truy cập:Electronic access restricted to authorized BRAC University faculty, staff and students