Cronyism and Capital Controls Evidence from Malaysia
The initial impact of the Asian financial crisis in Malaysia reduced the expected value of government subsidies to politically favored firms. Of the estimated $60 billion loss in market value for politically connected firms from July 1997 to August 1998, roughly 9% can be attributed to the fall in t...
National Bureau of Economic Research
|Series:||Working Paper Series (National Bureau of Economic Research)
no. w8521. |
|Online Access:||Download full text here|