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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Tamirisa, Natalia T.
Autor Corporativo: International Monetary Fund
Otros Autores: Johnson, Simon, Kochhar, Kalpana, Mitton, Todd
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, 2006.
Colección:IMF Working Papers ; Working Paper no. 06/51.
Temas:
Capital movements > Government policy > Malaysia.
Financial crises > Asia.
Stocks > Malaysia.
Mouvements de capitaux > Politique gouvernementale > Malaisie.
Actions (Titres de société) > Malaisie.
Capital movements > Government policy
Financial crises
Stocks
Asia
Malaysia
Acceso en línea:Texto completo
Descripción
Sumario: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.
Notas:Available in PDF, ePUB, and Mobi formats on the Internet.
Descripción Física:1 online resource (51 pages)
ISBN:1451908474
9781451908473
ISSN:2227-8885 ;

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