Crisis and recovery in Malaysia the role of capital controls
1. State of the debate -- 2. Pre-crisis Malaysian economy : an overview -- 3. Capital account opening, capital inflow and share market boom -- 4. Capital flows and signs of vulnerability -- 5. Onset of the crisis, policy slippage and economic collapse -- 6. Policy turnaround : from muddling through...
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| Format: | eBook |
| Language: | English |
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Cheltenham
Edward Elgar Pub
c2001
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | 1. State of the debate -- 2. Pre-crisis Malaysian economy : an overview -- 3. Capital account opening, capital inflow and share market boom -- 4. Capital flows and signs of vulnerability -- 5. Onset of the crisis, policy slippage and economic collapse -- 6. Policy turnaround : from muddling through to capital control -- 7. The recovery -- 8. The role of capital control -- 9. Conclusion The prime focus of the book is on Malaysia's radical policy decision to pursue an independent recovery path, cut off from world markets by a system of capital control, as a viable alternative to the conventional market centred approach. The analysis suggests that, against the initial dire predictions of many economists, the capital controls have actually played a crucial supportive role in crisis management. Whether the controls have played a special role in delivering a superior recovery outcome in Malaysia compared to IMF-program countries remains a point of contention. However, there is strong evidence to suggest that this pragmatic policy choice was instrumental in achieving recovery, while minimising potential economic disruption and related social costs |
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| Physical Description: | xii, 167 p ill |
| ISBN: | 9781840646214 1840646217 9781843764557 9781781009666 |