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Record Nr. |
UNINA9910973346303321 |
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Autore |
Tamirisa Natalia |
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Titolo |
Do Macroeconomic Effects of Capital Controls Vary by their Type? Evidence From Malaysia / / Natalia Tamirisa |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2004 |
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ISBN |
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9786613777003 |
9781462380381 |
1462380387 |
9781452757377 |
1452757372 |
9781281155641 |
1281155640 |
9781451890310 |
1451890311 |
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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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Soggetti |
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Capital movements - Malaysia |
Financial crises - Asia |
Macroeconomics |
Asset requirements |
Balance of payments |
Banks and Banking |
Capital account |
Capital adequacy requirements |
Capital controls |
Capital movements |
Currency |
Current Account Adjustment |
Exports and Imports |
Finance |
Financial Institutions and Services: Government Policy and Regulation |
Financial regulation and supervision |
Financial services law & regulation |
Financial services |
Foreign Exchange |
Foreign exchange |
General Financial Markets: Government Policy and Regulation |
Interest rates |
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Interest Rates: Determination, Term Structure, and Effects |
International economics |
International Investment |
Long-term Capital Movements |
Macroeconomic Aspects of International Trade and Finance: General |
Real exchange rates |
Real interest rates |
Short-term Capital Movements |
Malaysia Economic conditions |
Malaysia Economic policy |
Malaysia |
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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 the theoretical priors. Controls on international transactions in the domestic currency and stock market operations have statistically insignificant effects on the interest rate differential. |
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