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Record Nr. |
UNINA9910814665803321 |
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Autore |
Tamirisa Natalia T |
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Titolo |
Do macroeconomic effects of capital controls vary by their type? : evidence from Malaysia / / prepared by Natalia T. Tamirisa |
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Pubbl/distr/stampa |
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Washington, D.C., : International Monetary Fund, Policy Development and Review Dept., 2004 |
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ISBN |
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1-4623-8038-7 |
1-4527-5737-2 |
1-281-15564-0 |
9786613777003 |
1-4518-9031-1 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (24 p.) |
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Collana |
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IMF working paper ; ; WP/04/3 |
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Soggetti |
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Capital movements - Malaysia |
Financial crises - Asia |
Macroeconomics |
Malaysia Economic conditions |
Malaysia Economic policy |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Cover title. |
"January 2004"--Caption. |
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Nota di bibliografia |
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Includes bibliographical references (p. 22-23). |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. CAPITAL FLOWS AND THEIR REGULATION IN MALAYSIA""; ""III. WHAT DO THE QUANTITATIVE DATA TELL US?""; ""IV. AN ERROR-CORRECTION MODEL WITH CAPITAL CONTROLS""; ""APPENDIX""; ""REFERENCES"" |
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Sommario/riassunto |
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This paper examines how the macroeconomic effects of capital controls vary depending on which type of international financial transaction they cover. Drawing on Malaysia's experiences in regulating the capital account during the 1990s, it finds, in an error-correction model, that capital controls generally have statistically insignificant effects on the exchange rate. Controls on portfolio outflows and on bank and foreign exchange operations facilitate reductions in the domestic interest rate, while controls on portfolio inflows have the opposite effect, in line with |
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