Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

On IMF debt and capital control: evidence from Malaysia, Thailand, Indonesia, the Philippines and South Korea

On IMF debt and capital control: evidence from Malaysia, Thailand, Indonesia, the Philippines and... This study aims to investigate the effects of capital control and external debts after the 1997 financial crisis.Design/methodology/approachUsing system estimation approach, the authors estimate a panel data-based econometric model for data on Malaysia, Thailand, Indonesia, the Philippines and South Korea from 1990 to 2017.FindingsThe authors find that on average, the crisis-hit South East Asian economies choosing external debt perform better in achieving greater economic growth and rebound better compared to economies imposing capital control.Originality/valueThis study attempts to answer whether a crisis-hit country should impose capital control or opt for external debt to recuperate from the crisis. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Regulation and Compliance Emerald Publishing

On IMF debt and capital control: evidence from Malaysia, Thailand, Indonesia, the Philippines and South Korea

Loading next page...
 
/lp/emerald-publishing/on-imf-debt-and-capital-control-evidence-from-malaysia-thailand-W4Ymp6v6KQ
Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1358-1988
DOI
10.1108/jfrc-08-2019-0108
Publisher site
See Article on Publisher Site

Abstract

This study aims to investigate the effects of capital control and external debts after the 1997 financial crisis.Design/methodology/approachUsing system estimation approach, the authors estimate a panel data-based econometric model for data on Malaysia, Thailand, Indonesia, the Philippines and South Korea from 1990 to 2017.FindingsThe authors find that on average, the crisis-hit South East Asian economies choosing external debt perform better in achieving greater economic growth and rebound better compared to economies imposing capital control.Originality/valueThis study attempts to answer whether a crisis-hit country should impose capital control or opt for external debt to recuperate from the crisis.

Journal

Journal of Financial Regulation and ComplianceEmerald Publishing

Published: May 10, 2021

Keywords: IMF; Financial crisis; Capital control; External debt; Economic growth; F30; F43

References