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Evaluation Of Malaysian Capital Controls In The Short, Medium, And Long Runs

Author

Listed:
  • KANNIKA DAMRONGPLASIT

    (Department of Health Services, University of California Los Angeles, School of Public Health, Box 951772, Los Angeles, CA 90095-1772, USA;
    Rand Corporation, USA;
    Division of Economics, Nanyang Technological University, Singapore)

Abstract

This paper uses monthly data starting from January 1993 until June 2005 to assess the effectiveness of capital controls in restoring the Malaysian economy as compared to the IMF programs in Indonesia, Korea, and Thailand. We analyse various aspects of the economy by employing time-shifted difference-in-difference estimation. To evaluate the effects in the short, medium, and long runs, this study takes into account one to six years of treatment periods. Our estimation results provide strong evidence in favor of capital controls as a more effective crisis solution than the IMF programs in the short and medium runs.

Suggested Citation

  • Kannika Damrongplasit, 2009. "Evaluation Of Malaysian Capital Controls In The Short, Medium, And Long Runs," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 54(02), pages 233-247.
    • Handle: RePEc:wsi:serxxx:v:54:y:2009:i:02:n:s0217590809003276
    DOI: 10.1142/S0217590809003276
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