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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Bibliographic Details
Main Author: Athukorala, Prema-Chandra (Author)
Format: Electronic eBook
Language:English
Published: Cheltenham ; Northampton, Mass Edward Elgar Pub c2001
Series:Edward Elgar E-Book Archive
Subjects:
Online Access:DE-12
DE-634
DE-1043
DE-1046
DE-573
DE-M347
DE-898
DE-859
DE-860
DE-861
DE-863
DE-862
DE-Re13
DE-91
DE-473
DE-19
DE-355
DE-703
DE-20
DE-706
DE-824
DE-29
DE-739
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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
Item Description:Includes bibliographical references (p. 134-149) and index
Physical Description:1 Online-Ressource (xii, 167 Seiten) ill
ISBN:9781781009666
DOI:10.4337/9781781009666