This article argues that the financial crisis Malaysia faced in 1997-1998 was not home grown. It was the result of heightened currency speculation in the region, Malaysia was essentially the victim of contagion. The capital controls and pegging of local currency to US dollar were better alternatives that seeking the IMF assistance. Malaysia came out of the crisis faster and less harmed compared to countries like Thailand and Indonesia who sought the IMF help.
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
2948.
Length: Date of creation: 2002 Date of revision: Publication status: Published in Islamic Economic Studies, IRTI Jeddah 2.9(2002): pp. 1-16 Handle: RePEc:pra:mprapa:2948