Empirical evidence on capital mobility in four ASEAN countries
This paper examines the degree of capital mobility in four ASEAN countries, namely, Malaysia, Singapore, Thailand and the Philippines. The model of Shibata and Shintani (1998) and the extension model by Cooray (2005) are used to examine the degree of international capital mobility in these count...
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2007
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my.uum.repo.25592011-02-24T01:38:23Z http://repo.uum.edu.my/2559/ Empirical evidence on capital mobility in four ASEAN countries Soo, Khoon Goh Koong, Seow Shin HF Commerce This paper examines the degree of capital mobility in four ASEAN countries, namely, Malaysia, Singapore, Thailand and the Philippines. The model of Shibata and Shintani (1998) and the extension model by Cooray (2005) are used to examine the degree of international capital mobility in these countries. The results show that capital seems to be mobile in Malaysia and Thailand, but not in the Philippines or Singapore. Nevertheless, the results suggest that the interest rate differential is not related to changes in consumption. This paper also highlights the importance of incorporating strong instrumental variables in any GMM estimations. 2007 Conference or Workshop Item NonPeerReviewed application/pdf en http://repo.uum.edu.my/2559/1/Soo_Khoon_Goh.pdf Soo, Khoon Goh and Koong, Seow Shin (2007) Empirical evidence on capital mobility in four ASEAN countries. In: International Economic Conference on Trade and Industry (IECTI) 2007, 3 - 5 December 2007, Bayview Hotel Georgetown, Penang. (Unpublished) |
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Malaysia |
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| language |
English |
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HF Commerce |
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HF Commerce Soo, Khoon Goh Koong, Seow Shin Empirical evidence on capital mobility in four ASEAN countries |
| description |
This paper examines the degree of capital mobility in four ASEAN countries, namely, Malaysia, Singapore,
Thailand and the Philippines. The model of Shibata and Shintani (1998) and the extension model by
Cooray (2005) are used to examine the degree of international capital mobility in these countries. The
results show that capital seems to be mobile in Malaysia and Thailand, but not in the Philippines or
Singapore. Nevertheless, the results suggest that the interest rate differential is not related to changes in
consumption. This paper also highlights the importance of incorporating strong instrumental variables in any GMM estimations. |
| format |
Conference or Workshop Item |
| author |
Soo, Khoon Goh Koong, Seow Shin |
| author_facet |
Soo, Khoon Goh Koong, Seow Shin |
| author_sort |
Soo, Khoon Goh |
| title |
Empirical evidence on capital mobility in four ASEAN countries |
| title_short |
Empirical evidence on capital mobility in four ASEAN countries |
| title_full |
Empirical evidence on capital mobility in four ASEAN countries |
| title_fullStr |
Empirical evidence on capital mobility in four ASEAN countries |
| title_full_unstemmed |
Empirical evidence on capital mobility in four ASEAN countries |
| title_sort |
empirical evidence on capital mobility in four asean countries |
| publishDate |
2007 |
| url |
http://repo.uum.edu.my/2559/1/Soo_Khoon_Goh.pdf http://repo.uum.edu.my/2559/ |
| _version_ |
1644278271133614080 |