An empirical estimate of the degree of international capital mobility in Thailand is given. A model of interest rate determination which allows for imperfectly mobile capital and the impact of both domestic and international influences on the domestic rate is developed and estimated using...

This paper uses cointegration and vector auto regression techniques to examine which, if any, of the financial aggregates - the monetary base, M1, M2 or credit - is an appropriate intermediate target for the Thai monetary authorities. From the spectrum of monetary aggregates, M1 seems to be the...

This paper provides an empirical estimate of the degree of international capital mobility in Thailand. A model of interest rate determination which allows for imperfectly mobile capital and the impact of both domestic and international influences on the domestic rate is developed and estimated...