WORLD BANK STUDIES MALAYSIAN CAPITAL CONTROLS. Malaysia's use of capital controls to recover from the regional financial crisis without adverse effects has prompted the World Bank to study more closely the consequences of using such measures, reports Asia Pulse. World Bank Chief Economist Joseph Stiglitz said Malaysia's economy was recovering robustly and described the move to use controls as a logical plan given the uncertainty of the global economic climate a year ago, the story says.
The Asian Wall Street Journal, the Straits Times (Singapore), the South China Morning Post, Kyodo News, the Japan Times (p.13), the Daily Yomiuri (p.12), and the Australian also report on Stiglitz's remarks at the conference.