Crisis and recovery in Malaysia : the role of capital controls / Prema-chandra Athukorala.

Format:

Book

Author/Creator:

Athukorala, Prema-chandra.

Language:

English

Subjects (All):

Capital movements--Government policy--Malaysia.

Capital movements.

Capital movements--Government policy.

Financial crises.

Malaysia.

Financial crises--Malaysia.

Malaysia--Economic policy.

Economic policy.

Malaysia--Economic conditions.

Economic conditions.

Physical Description:

xii, 159 pages : illustrations ; 25 cm

Place of Publication:

Cheltenham, UK ; Northampton, MA : Edward Elgar, [2001]

Contents:

1 State of the debate 1

2 Pre-crisis Malaysian economy: an overview 8

Policy context 8

Economic performance 13

3 Capital account opening, capital inflow and share market boom 24

Capital account regime 24

Surge of capital inflows 26

Share market boom 32

4 Capital flows and signs of vulnerability 37

Vulnerability indicators 37

Signs of vulnerability 44

5 Onset of the crisis, policy slippage and economic collapse 61

Currency slide and share market collapse 61

Muddling through 63

Economic collapse 67

6 Policy turnaround: from muddling through to capital control 73

Rejecting the IMF 73

Capital control-based policy package 76

7 The recovery 84

Overall patterns 84

Domestic demand 89

Sectoral patterns 89

Fiscal position 91

External position 92

8 The role of capital controls 95

Monetary policy autonomy 97

Banking and corporate restructuring 100

Fixed exchange rate and international competitiveness 103

Impact on foreign direct investment 105

Impact on portfolio investment 107.

Notes:

Includes bibliographical references (pages 134-149) and index.

ISBN:

1840646217

OCLC:

45575482