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International Finance Discussion Papers: Capital Controls During Financial Crises: The Case of Malaysia and Thailand

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International Finance Discussion Papers: Capital Controls During Financial Crises: The Case of Malaysia and Thailand - Edison, Hali J, and Reinhart, Carmen M

This study examines the impact capital controls had in Malaysia (1998-1999) and Thailand (1997). We aim to assess the extent to which the capital controls were effective in delivering the outcomes that motivated their imposition. We conclude that in Thailand the controls did not deliver much of what was intended--although, one does not observe the ...

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