The impact of capital controls on Malaysian banking industry betas

Robert D. Brooks and Lye Chee Shoung

Applied Financial Economics Letters, 2006, vol. 2, issue 4, 247-249

Abstract: In response to the recent Asian financial crisis Malaysia introduced a series of capital control measures on 1 September 1998. The aim of these measures was to introduce greater stability to the Malaysian financial market. This study analyses the impact of the introduction of the capital controls on Malaysian bank betas. A study of the ten largest banks reveal evidence of a mean reversion type phenomena, in that the betas are drawn to the grand mean of unity.

Date: 2006
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DOI: 10.1080/17446540600589411

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