Malaysian Capital Controls: Macroeconomics and Institutions

We analyze the capital controls imposed in Malaysia in September 1998 In macroeconomic terms, these controls neither yielded major benefits nor were costly At the same time, the stock market interpreted the capital controls and associated events as favoring firms with stronger political connections, and some connected firms reportedly received advantages immediately foWe analyze the capital controls imposed in Malaysia in September 1998 In macroeconomic terms, these controls neither yielded major benefits nor were costly At the same time, the stock market interpreted the capital controls and associated events as favoring firms with stronger political connections, and some connected firms reportedly received advantages immediately following the crisis Analysis of financial accounts indicates that connected firms outperformed unconnected firms before the 1997 98 crisis but not afterward After the crisis, connected firms were either not supported as much as the market had expected or the benefits they received were not manifest in their published accounts.
Malaysian Capital Controls Macroeconomics and Institutions We analyze the capital controls imposed in Malaysia in September In macroeconomic terms these controls neither yielded major benefits nor were costly At the same time the stock market interpret

  • Title: Malaysian Capital Controls: Macroeconomics and Institutions
  • Author: Simon Johnson
  • ISBN: 9786613828767
  • Page: 346
  • Format: ebook
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