9 Capital Market Development and the Monetary Transmission Mechanism in Malaysia and Thailand
Author:
Mr. Tim Callen
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Language:
English
Print Publication Date:
18 Jul 1997
Keywords:
BOOK; economy; saving; ASEAN country; ASEAN region; exchange experience; government saving; central bank governor; persistent current account deficit; Real exchange rates; Real effective exchange rates; Current account; East Asia; Southeast Asia; Asia and Pacific; Global; South Asia; capital market development; cash flow; price level; transmission mechanism; capital structure; Stock markets; Securities markets; Capital markets; Nonbank financial institutions; Loans

Abstract

Capital market development and financial deregulation in Malaysia and Thailand are opening up new and increased financing opportunities for businesses and households. This paper looks at how capital markets have developed in these countries and assesses how the development of these markets, together with the deregulation of financial intermediaries, has affected the financing of economic activity and, thereby, the transmission of monetary policy to the economy.

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Cover Macroeconomic Issues Facing ASEAN Countries
Macroeconomic Issues Facing ASEAN Countries
ISBN:
9781557756374
Publication Date:
18 Jul 1997
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557756374.071
Pages:
411