Citation
Law, Siong Hook and Wan Ngah, Wan Azman Saini
(2013)
Capital account liberalization and economic performance in Malaysia.
The Singapore Economic Review, 58 (3).
art. no. 1350022.
pp. 1-22.
ISSN 0217-5908; ESSN: 1793-6837
Abstract
This study examines the impact of capital account liberalization on economic growth in Malaysia from 1970 to 2004. It uses two measures of capital account openness, namely de jure (an index of liberalization) and de facto (the volume of capital flows). The empirical results based on the modified growth model demonstrate that the de jure measure of capital account liberalization shows an adverse effect on growth in Malaysia. However, the de facto measure shows a robust positive effect on economic growth. The results also highlight that the effect of capital account liberalization on growth is contingent on a country's level of financial development and the quality of its institutions.
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Official URL or Download Paper: http://www.worldscientific.com/doi/abs/10.1142/S02...
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Additional Metadata
| Item Type: | Article |
|---|---|
| Divisions: | Faculty of Economics and Management |
| DOI Number: | https://doi.org/10.1142/S0217590813500227 |
| Publisher: | World Scientific Publishing |
| Keywords: | Capital account openness; Economic growth; Institutions; Financial development; Bounds test |
| Depositing User: | Nabilah Mustapa |
| Date Deposited: | 25 Jul 2015 13:47 |
| Last Modified: | 01 Oct 2015 03:57 |
| Altmetrics: | http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1142/S0217590813500227 |
| URI: | http://psasir.upm.edu.my/id/eprint/28314 |
| Statistic Details: | View Download Statistic |
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