| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2766 |
| DP2766 Financial Development and the Sensitivity of Stock Markets to External Influences | |
| Harris Dellas; Martin Hess | |
| 发表日期 | 2001-04-24 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | Malaysia recovered from the Asian financial crisis swiftly after the imposition of capital controls in September 1998. The fact that Korea and Thailand recovered in parallel has been interpreted as suggesting that capital controls did not play a significant role in facilitating Malaysia?s rebound. However, the financial crisis was deepening in Malaysia in the summer of 1998, while it had eased up significantly in Korea and Thailand. We employ a time-shifted differences-in-differences technique to exploit the differences in the timing of the crises. Compared to IMF programs, we find that the Malaysian policies produced faster economic recovery, smaller declines in employment and real wages, and more rapid turnaround in the stock market. |
| 主题 | International Macroeconomics ; Public Economics |
| 关键词 | Capital controls Malaysia |
| URL | https://cepr.org/publications/dp2766 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531825 |
| 推荐引用方式 GB/T 7714 | Harris Dellas,Martin Hess. DP2766 Financial Development and the Sensitivity of Stock Markets to External Influences. 2001. |
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