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This paper examines the effectiveness of capital account policy in terms of its ability to affect the volume and composition of capital flows, relieve pressures on real exchange rates, and foster monetary policy independence. Ten emerging Asian economies are used as case studies to assess the...
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indexes for Malaysia during the period 2000-2008 and Thailand over the period 2000-2010 in a vector auto-regression model. The … results show that restrictions in Thailand have no significant effect on inflows but are especially effective for outflows … in Malaysia and Thailand. …
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