An Assessment of Malaysia’s Response to the IMF During the Asian Economic Crisis

(2004) Singapore Journal of Legal Studies 96-116

UNSW Law Research Paper No. 17-41

24 Pages Posted: 21 Jun 2017

See all articles by Ross P. Buckley

Ross P. Buckley

University of New South Wales (UNSW) - Faculty of Law

Sarala M. Fitzgerald

Australian Securities and Investments Commission (ASIC)

Date Written: January 1, 2004

Abstract

Malaysia was the only country severely affected by the 1997 Asian economic crisis that declined to adopt an IMF program. This article assesses this decision in terms of principle, and of the outcomes of the unorthodox policies Malaysia did implement. It concludes that Malaysia recovered at least as quickly as any country that implemented IMF policies and gained a number of significant advantages by charting its own course out of the crisis. Saying no to the IMF was right for Malaysia.

Keywords: Malaysia, 1997 Asian economic crisis, IMF

Suggested Citation

Buckley, Ross P. and Fitzgerald, Sarala M., An Assessment of Malaysia’s Response to the IMF During the Asian Economic Crisis (January 1, 2004). (2004) Singapore Journal of Legal Studies 96-116; UNSW Law Research Paper No. 17-41. Available at SSRN: https://ssrn.com/abstract=2988718 or http://dx.doi.org/10.2139/ssrn.2988718

Ross P. Buckley (Contact Author)

University of New South Wales (UNSW) - Faculty of Law ( email )

Sydney, New South Wales 2052
Australia

Sarala M. Fitzgerald

Australian Securities and Investments Commission (ASIC)

Sydney
Australia

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