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Recent financial crisis in Malaysia: response, results, challenges


  • Hasan, Zubair


This paper was one of the first writings that appeared on the subject and presented at a local conference while pending publication with the Indian Economic Journal.After a brief Introduction, Section 2 discusses broadly the process used for generating the data used for analysis as also the position of Malaysian economy during the crisis. Section 3 deals with controls as a tool for managing the financial turmoil. Section 4 argues, on the basis of results, that for Malaysia the imposition of controls was a better course of action than seeking help from the IMF. Section 5 makes brief reference to some challenges including the issue of dollar-ringgit peg. Section 6 contains a few concluding remarks.

Suggested Citation

  • Hasan, Zubair, 1999. "Recent financial crisis in Malaysia: response, results, challenges," MPRA Paper 21844, University Library of Munich, Germany, revised 2000.
  • Handle: RePEc:pra:mprapa:21844

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    1. repec:taf:rjapxx:v:4:y:1999:i:3:p:413-430 is not listed on IDEAS
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    Cited by:

    1. Venus Khim-Sen Liew & Kian-Ping Lim & Evan Lau & Chee-Keong Choong, 2003. "Exchange Rate – Relative Price Relationship: Nonlinear Evidence from Malaysia," International Finance 0312001, EconWPA.
    2. Venus Khim-Sen Liew & Chee-Keong Choong & Evan Lau & Kian-Ping Lim, 2005. "Exchange Rate – Relative Price Nonlinear Cointegration Relationship in Malaysia," Economics Bulletin, AccessEcon, vol. 6(11), pages 1-16.
    3. Hasan, Zubair, 2002. "The 1997-98 Financial Crisis In Malaysia: Causes, Response, And Results," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 9, pages 1-16.
    4. repec:ebl:ecbull:v:6:y:2005:i:11:p:1-16 is not listed on IDEAS

    More about this item


    Financial crisis; short-term foreign capital flight stock market fall; currency depreciation; capital controls;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • F31 - International Economics - - International Finance - - - Foreign Exchange


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