The Economy of Malaysia

Paper Summary:

This paper explains that, prior to the 1997/1998 Asian financial crisis, Malaysia's economy had been experiencing much of the same growth and expansion as most other Asian tigers. The author points out that Malaysia's reaction and recovery following the Asian financial crisis was unique because Malaysia refused to participate in bailout programs by the International Monetary Fund (IMF). The paper relates that, in the aftermath of the crisis and in the years following, Malaysia reasserted political and governmental control over its economic structures by discontinuing its currency trading and instituting severe controls over its capital markets, which prevented the speculative action that led to the original crisis. The author underscores that, today, the government maintains a recognizable economic plan, which stabilizes the economy and the business sector, so that private and foreign investors can identify the country as a growth market that is attractive to investors.

Table of Contents:
Abstract
Introduction
Recovery after 1997/1998 Financial Crisis
Current Economic Status
The Future Economic Plan

From the Paper:

"The Malaysian economy has suffered periodically since the Asian financial crisis from various geo-political events. However, as a testament to its innate strength it has weathered most of these difficulties. During 2003 following the Severe Acute Respiratory Syndrome (SARS) epidemic in Asia, the Malaysian economy still registered a 4.9% growth rate for the year (Rodan, 2004, p.112). Even during the outset of the Iraq War led and instigated the United States, Malaysia managed to quell any unease in its capital markets and in its business sector." i

Sample of Sources Used:

• Gomez, E. T. (Ed.). (2004). The State of Malaysia: Ethnicity, Equity, and Reform. New York: RoutledgeCurzon.
• Hooker, V. M. (2003). A Short History of Malaysia: Linking East and West. Crows Nest, N.S.W.: Allen & Unwin.
• Malaysia. (2007). The CIA World Fact Book (online). Retrieved March 27, 2007 from: https://www.cia.gov/cia/ publications/factbook/geos/my.html
• The ninth Malaysia plan: The first step in the national mission. (2007). The Economic Planning Unit (online). Retreived March 27, 2007 from: http://www.epu.jpm.my/rm9/html/ overview.htm
• Rodan, G. (2004). Transparency and Authoritarian Rule in Southeast Asia: Singapore and Malaysia. New York: Routledge.

More papers on The Economy of Malaysia:

• Term Paper # 117792 : "Tigers, Miracles, and the Mythology of Development"
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• Research Paper # 24178 : "Malaysian Economy"

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