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- Publisher
- World Scientific Publishing Company
- Copyright
- Copyright ©
- ISSN
- 0217-5908
- eISSN
- 1793-6837
- DOI
- 10.1142/S0217590809003276
- Publisher site
- See Article on Publisher Site
Abstract
This paper uses monthly data starting from January 1993 until June 2005 to assess the effectiveness of capital controls in restoring the Malaysian economy as compared to the IMF programs in Indonesia, Korea, and Thailand. We analyse various aspects of the economy by employing time-shifted difference-in-difference estimation. To evaluate the effects in the short, medium, and long runs, this study takes into account one to six years of treatment periods. Our estimation results provide strong evidence in favor of capital controls as a more effective crisis solution than the IMF programs in the short and medium runs.
Journal
The Singapore Economic Review – World Scientific Publishing Company
Published: Jun 1, 2009
Keywords: Time-shifted difference-in-difference estimation IMF programs treatment periods