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International Finance Discussion Papers: Capital Controls During Financial Crises: The Case of Malaysia and Thailand

by United States Federal Reserve Board , Hali J. Edison , Carmen M. Reinhart
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Current price ₹1,437.00
Original price ₹1,544.00
Original price ₹1,544.00
Original price ₹1,544.00
(-7%)
₹1,437.00
Current price ₹1,437.00

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Book cover type: Paperback
  • ISBN13: 9781288732821
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Bibliogov
  • Publisher Imprint: Bibliogov
  • Publication Date:
  • Pages: 42
  • Original Price: USD 15.75
  • Language: English
  • Edition: N/A
  • Item Weight: 96 grams
  • BISAC Subject(s): General

This study examines the impact capital controls had in Malaysia (1998-1999) and Thailand (1997). We aim to assess the extent to which the capital controls were effective in delivering the outcomes that motivated their imposition. We conclude that in Thailand the controls did not deliver much of what was intended--although, one does not observe the counterfactual. By contrast, in the case of Malaysia the controls did align closely with the priors of what controls are intended to achieve: greater interest rate and exchange rate stability and more policy autonomy.

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