Late in the Asian crisis, Malaysian authorities implemented controls on international capital flows, providing insurance against the consequences of possible further disturbances and creating a breathing space for essential reforms. Both the benefits from and the costs of the controls have been modest.
Late in the Asian crisis, Malaysian authorities implemented controls on international capital flows, providing insurance against the consequences of possible further disturbances and creating a breathing space for essential reforms. Both the benefits from and the costs of the controls have been m...