Jump to ContentJump to Main Navigation
Preventing Currency Crises in Emerging Markets$
Users without a subscription are not able to see the full content.

Sebastian Edwards and Jeffrey A. Frankel

Print publication date: 2002

Print ISBN-13: 9780226184944

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226185057.001.0001

Show Summary Details
Page of

PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use (for details see www.chicago.universitypressscholarship.com/page/privacy-policy).date: 17 January 2019

Malaysia's Crisis

Malaysia's Crisis

Was It Different?

(p.441) 9 Malaysia's Crisis
Preventing Currency Crises in Emerging Markets
Rudi Dornbusch
University of Chicago Press

This chapter discusses Malaysia's experience with capital controls. It evaluates whether Malaysia's rather solid performance in 1999–2000 can be attributed to its heterodox program, or whether it was the result of other factors, including a friendly international economic environment. The costs or benefits of capital controls remain equivocal, despite their apparent success in Malaysia. One possibly critical difference between Malaysia and other crisis economies in the region was its infliction of tight capital controls on 1 September 1998. Additionally, Malaysia was in no way more exposed than other crisis countries and, for that reason, should not have been doing worse. Accordingly, it cannot be argued that the influences of capital controls is contained a situation that otherwise would have been much worse than those of other countries.

Keywords:   capital controls, Malaysia, heterodox program, crisis economies, international economy

Chicago Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.