Brothers in Distress: Revolving Capital Flows of Indonesia, Malaysia, and Thailand
The paper examines hypothesized linkages between external borrowings and capital flights as presented in [Boyce, J. K. (1992). The revolving door? External debt and capital flight: Philippine case study. World Development, 20(3), 335–349]. The results for Indonesia, Malaysia, and Thailand show that large sums of capital flowed in and out of these economies in a revolving door fashion. The findings suggest the necessity for sound domestic management as well as effective international involvement in capital flows.
Edsel L. Beja, Brothers in distress: Revolving capital flows of Indonesia, Malaysia, and Thailand, Journal of Asian Economics, Volume 18, Issue 6, 2007, Pages 904-914, ISSN 1049-0078, https://doi.org/10.1016/j.asieco.2007.08.005.