Malaysian Capital Controls : Macroeconomics and Institutions / Natalia Tamirisa, Simon Johnson, Kalpana Kochhar, Todd Mitton.

Format:

Book

Government document

Author/Creator:

Tamirisa, Natalia.

Contributor:

Johnson, Simon.

Kochhar, Kalpana.

Mitton, Todd.

International Monetary Fund. Research Department.

Series:

IMF Working Papers; Working Paper ; No. 2006/051

IMF Working Papers

Language:

English

Subjects (All):

Capital movements--Government policy--Malaysia.

Capital movements.

Financial crises--Asia.

Financial crises.

Stocks--Malaysia.

Stocks.

Physical Description:

1 online resource (51 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

Summary:

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.

Contents:

""Contents""; ""I. INTRODUCTION""; ""II. BRIEF CHRONOLOGY OF CAPITAL CONTROLS AND MACROECONOMIC POLICIES""; ""III. MACROECONOMIC ISSUES""; ""IV. FIRM- LEVEL EVIDENCE""; ""V. CONCLUSION""; ""APPENDIX I. Coding of Firms""; ""REFERENCES""

Notes:

"February 2006."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786613828767

9781462378067

1462378064

9781452794549

1452794545

9781283516310

1283516314

9781451908473

1451908474

OCLC:

698585563