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The 1997-98 Financial Crisis in Malaysia: Causes, Response, and Results

Author

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  • Hasan, Zubair

Abstract

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.

Suggested Citation

  • Hasan, Zubair, 2002. "The 1997-98 Financial Crisis in Malaysia: Causes, Response, and Results," MPRA Paper 2948, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:2948
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    File URL: https://mpra.ub.uni-muenchen.de/2948/1/MPRA_paper_2948.pdf
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    Cited by:

    1. Zubair HASAN, 2018. "Deficit finance and developing economies: Implications and results," Turkish Economic Review, EconSciences Journals, vol. 5(4), pages 328-337, December.
    2. Chen, David Y. & Li, Tongzhe, 2014. "Financial crises, Asian stock indices, and current accounts: An Asian-U.S. comparative study," Journal of Asian Economics, Elsevier, vol. 34(C), pages 66-78.
    3. Hasan, Zubair, 2018. "Deficit financing in developing countries: Application and consequences," MPRA Paper 89654, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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