Revisiting the Revolving Door: Capital Flight from Southeast Asia

Edsel Beja

Working Papers from United Nations, Department of Economics and Social Affairs

Abstract: The paper revisits hypothesized direct linkages between external borrowing and capital flight. It reviews the cases of Indonesia, Malaysia, the Philippines and Thailand to see if such linkages exist. The results indicate that, indeed, large sums of capital flowed in and out of these four countries in a revolving door process. Thus, the results lend support to the need for: better domestic management of external debt, sound macroeconomic management and solid macro-organizational foundations (with the government at the centre of policy making), active management of capital flows, and effective domestic and international involvement and coordination in capital flows.

Keywords: capital flight; external debt; revolving door; Southeast Asia (search for similar items in EconPapers)
JEL-codes: F20 F30 O57 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2006-08
New Economics Papers: this item is included in nep-cba, nep-dev, nep-fmk and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:une:wpaper:16

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