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

Listed author(s):
  • Hasan, Zubair

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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File URL: https://mpra.ub.uni-muenchen.de/2948/1/MPRA_paper_2948.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 2948.

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Date of creation: 2002
Publication status: Published in Islamic Economic Studies, IRTI Jeddah 2.9(2002): pp. 1-16
Handle: RePEc:pra:mprapa:2948
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Web page: https://mpra.ub.uni-muenchen.de

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  1. Eduardo Borensztein & R. Gaston Gelos, 2003. "A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds," IMF Staff Papers, Palgrave Macmillan, vol. 50(1), pages 1-3.
  2. Kearney, Colm, 1999. "The Asian Financial Crisis," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 1999(1-Februar), pages 29-55.
  3. Hasan, Zubair, 1999. "Recent financial crisis in Malaysia: response, results, challenges," MPRA Paper 21844, University Library of Munich, Germany, revised 2000.
  4. Ghosh, Asim & Saidi, Reza & Johnson, Keith H, 1999. "Who Moves the Asia-Pacific Stock Markets--US or Japan? Empirical Evidence Based on the Theory of Cointegration," The Financial Review, Eastern Finance Association, vol. 34(1), pages 159-170, February.
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