Malaysia Financial Crisis 1997 Pdf
Before the asian financial crisis asian countries such as south korea singapore taiwan and hong kong experienced rapid growth and was often referred as the asian tiger economies.
Malaysia financial crisis 1997 pdf. 9 unlike what happened during the asian crisis most employers are eliminating shift work and overtime and reducing work days or. Impact of the global crisis on malaysia s financial system muhammad bin ibrahim1 1. The ringgit was also not spared and came under severe selling pressure. The 1997 98 asian financial crisis when malaysia lost 84 000 jobs.
Causes impacts and recovery plans author z. Our analysis of the impact of the recent global financial crisis on malaysia therefore begins with an understanding of the asian financial crisis of 1997 9 and how it shaped this crisis. Causes response and resultst zubair hasan this paper argues that the 1997 98 financial crisis did not hit malaysia because the economic fundamentals q the country were weak it was the result of massive unpredictable flight of short term portfolio investment from the region including malaysia. The financial crisis in malaysia in mid may 1997 the thai baht came under severe pressure from speculative at tacks.
The asian financial crisis 1997 explained. Bank negara malaysia s the central bank of malaysia immediate response was to intervene in the foreign exchange market to uphold the value of the. Malaysia like most southeast asian. Financial crisis of 1997 1998 in malaysia.
They maintained remarkably high growth rates over 7 from 1960s 1990s due to rapid industrialisation. It was the result of massive unpredictable flight of short term portfolio investment from the region including malaysia. Financial sector after the asian financial crisis to be more resilient and hence were able to avoid a financial meltdown. Key financial indicators 1996 1997 98 2006 2007 2008 jan sep 2009 number of.
The 1997 98 financial crisis in malaysia. The 1997 98 financial crisis in malaysia. Causes impacts and recovery plans inproceedings hussin2010financialco title financial crisis of 1997 1998 in malaysia.