Abstract
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.
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