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

Mohamad, Azhar and Sifat, Imtiaz Mohamad and Mohd Thas Thaker, Hassanudin and Muhammad Noor, Anwar (2020) On IMF debt and capital control: evidence from Malaysia, Thailand, Indonesia, the Philippines and South Korea. Journal of Financial Regulation and Compliance. ISSN 1358-1988 (In Press)

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Abstract

Purpose: This study aims to investigate the effects of capital control and external debts after the 1997 financial crisis. Design/methodology/approach: Using 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. Findings: The 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/value: This study attempts to answer whether a crisis-hit country should impose capital control or opt for external debt to recuperate from the crisis. © 2020, Emerald Publishing Limited.

Item Type:	Article (Journal)
Additional Information:	3334/84733
Uncontrolled Keywords:	IMF, Financial crisis, Capital control, External debt, Economic growth
Subjects:	H Social Sciences > HG Finance H Social Sciences > HG Finance > HG178 Liquidity
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Finance Kulliyyah of Economics and Management Sciences
Depositing User:	Dr Azhar Mohamad
Date Deposited:	14 Nov 2020 23:31
Last Modified:	23 Feb 2021 12:15
URI:	http://irep.iium.edu.my/id/eprint/84733

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