CAPITAL ACCOUNT LIBERALIZATION AND ECONOMIC PERFORMANCE IN MALAYSIA
Siong Hook Law and
W.N.w Azman-Saini
The Singapore Economic Review (SER), 2013, vol. 58, issue 03, 1-22
Abstract:
This study examines the impact of capital account liberalization on economic growth in Malaysia from 1970 to 2004. It uses two measures of capital account openness, namelyde jure(an index of liberalization) andde facto(the volume of capital flows). The empirical results based on the modified growth model demonstrate that thede juremeasure of capital account liberalization shows an adverse effect on growth in Malaysia. However, thede factomeasure shows a robust positive effect on economic growth. The results also highlight that the effect of capital account liberalization on growth is contingent on a country's level of financial development and the quality of its institutions.
Keywords: Capital account openness; economic growth; institutions; financial development; bounds test; F43; O40 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)
Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0217590813500227
Access to full text is restricted to subscribers
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:wsi:serxxx:v:58:y:2013:i:03:n:s0217590813500227
Ordering information: This journal article can be ordered from
DOI: 10.1142/S0217590813500227
Access Statistics for this article
The Singapore Economic Review (SER) is currently edited by Euston Quah
More articles in The Singapore Economic Review (SER) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().