Capital Controls

Jomo K.S.

World Economics, 2002, vol. 3, issue 1, 125-143

Abstract: Malaysia's decision to adopt capital controls in September 1998 reminded the world that there are alternatives to capital account liberalisation. Unfortunately, there has been a tendency for both sides in the debate over the capital control measures to exaggerate their own cases, with little regard for what actually happened. After examining the cases made, and the actual events surrounding the imposition of capital controls, the author concludes that the contribution of the controls to Malaysia's subsequent recovery cannot be conclusively established. At worst, the controls may have discouraged not only foreign portfolio investment, but also foreign direct investment—which may adversely impact Malaysia's medium-term competitiveness vis-à -vis the new industrialising economies of Asia, including China and India.

Date: 2002
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldeconomics.com/Journal/Papers/Article.details?ID=94 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wej:wldecn:94

Access Statistics for this article

More articles in World Economics from World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE
Bibliographic data for series maintained by Ed Jones ().