05483oam 22012854 450 991078852260332120230617033136.01-4623-8038-71-4527-5737-21-281-15564-097866137770031-4518-9031-1(CKB)3360000000441065(EBL)3012491(SSID)ssj0000949369(PQKBManifestationID)11512170(PQKBTitleCode)TC0000949369(PQKBWorkID)10996014(PQKB)10434934(OCoLC)535146874(MiAaPQ)EBC3012491(IMF)WPIEE0032004(EXLCZ)99336000000044106520020129d2004 uf 0engurcn|||||||||txtccrDo Macroeconomic Effects of Capital Controls Vary by their Type? Evidence From Malaysia /Natalia TamirisaWashington, D.C. :International Monetary Fund,2004.1 online resource (24 p.)IMF Working PapersCover title."January 2004"--Caption.1-4518-4193-0 Includes bibliographical references (p. 22-23).""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""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.IMF Working Papers; Working Paper ;No. 2004/003Capital movementsMalaysiaFinancial crisesAsiaMacroeconomicsBanks and BankingimfExports and ImportsimfForeign ExchangeimfInternational InvestmentimfLong-term Capital MovementsimfCurrent Account AdjustmentimfShort-term Capital MovementsimfMacroeconomic Aspects of International Trade and Finance: GeneralimfGeneral Financial Markets: Government Policy and RegulationimfFinancial Institutions and Services: Government Policy and RegulationimfInterest Rates: Determination, Term Structure, and EffectsimfInternational economicsimfFinancial services law & regulationimfFinanceimfCurrencyimfForeign exchangeimfCapital controlsimfCapital accountimfCapital adequacy requirementsimfReal interest ratesimfReal exchange ratesimfBalance of paymentsimfFinancial regulation and supervisionimfFinancial servicesimfCapital movementsimfAsset requirementsimfInterest ratesimfMalaysiaEconomic conditionsMalaysiaEconomic policyMalaysiaimfCapital movementsFinancial crisesMacroeconomics.Banks and BankingExports and ImportsForeign ExchangeInternational InvestmentLong-term Capital MovementsCurrent Account AdjustmentShort-term Capital MovementsMacroeconomic Aspects of International Trade and Finance: GeneralGeneral Financial Markets: Government Policy and RegulationFinancial Institutions and Services: Government Policy and RegulationInterest Rates: Determination, Term Structure, and EffectsInternational economicsFinancial services law & regulationFinanceCurrencyForeign exchangeCapital controlsCapital accountCapital adequacy requirementsReal interest ratesReal exchange ratesBalance of paymentsFinancial regulation and supervisionFinancial servicesCapital movementsAsset requirementsInterest ratesTamirisa Natalia1098414International Monetary Fund.Policy Development and Review Dept.DcWaIMFBOOK9910788522603321Do Macroeconomic Effects of Capital Controls Vary by their Type? Evidence From Malaysia3670948UNINA