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The Malaysian Experience in Financial-Economic Crisis Management An Alternative to the IMF-Style Approach (No. 6)

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USD 6.00 Publisher: TWN
ISBN: 983-2729-40-8
Year: 2005
No. of pages: 44
Size of book: 14.5cm x 21cm
Author: Martin Khor

About the Author                            

MARTIN KHOR is the Director of the Third World Network. He is an economist trained in Cambridge University and has authored several books and articles on trade, development and environment issues.

Contents

1. GENERAL BACKGROUND TO THE ISSUE

(a)   The Onset of Financial Crisis: Some Elements

(b)   Orthodox IMF-Style Policy Response

(c)   Needs and Goals of a Country Facing Crisis


2. BACKGROUND TO THE MALAYSIAN CRISIS AND RESPONSE

(a)   The Malaysian Crisis: The Start

(b)   Initial Response: Orthodox Policy

(c)   Developing the Malaysian Alternative Strategy


3. ELEMENTS OF THE MALAYSIAN ALTERNATIVE STRATEGY

(a)   General

(b)   The Core Macroeconomic Elements:

(i)   Reduction in interest rates

(ii)  Expansionary monetary / credit policy

(iii) Expansionary fiscal policy

(c)   Stabilising the Currency

(i)   Fixing the exchange rate

(ii)  Measures to prevent overseas speculation and trade in the ringgit

(d)   Selective Capital Controls

(i)   The initial measures in September 1998

(ii)  Subsequent amendments and relaxation

(e)   Stock Market Measures and Closure of Overseas Trade in Malaysia Securities

(f)   Restructuring the Financial System and Corporate Debt

(i)   General

(ii)  Government guarantee of depositors’ funds

(iii) Decision not to close financial institutions in trouble

(iv)  Establishment of Danaharta

(v)   Establishment of Danamodal

(vi)  Establishment of the CDRC

(g) Maintaining Some Basic National Policies and Socio-Economic Goals


4. SOME LESSONS AND CONCLUSIONS

(a)   Lessons from the Malaysian Experience

(b)   Other Conclusions

REFERENCES

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This product was added to our catalog on Monday 20 June, 2011.


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