The Asian Economic Crisis and Malaysia’s Responses: Implications for the Banking Sector

  • Balakrishnan Parasuraman
  • Beatrice Lim
  • Fumitaka Furuoka
  • Catherine Jikunan
  • Lo May Chiun


The economic meltdown began in Thailand in July 1997 and spread to other countries in the region, such as Malaysia, Indonesia, the Philippines, and South Korea. This phenomenon was later called the “contagion effect.” To improve economic foundations, Thailand, Indonesia, and South Korea decided to ask for and received rescue packages from the International Monetary Fund (IMF). However, as the IMF’s conditions were very strict, some experts doubted the validity of the IMF’s policies.


International Monetary Fund Trade Union Banking Sector Capital Account Capital Control 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer India Pvt. Ltd. 2013

Authors and Affiliations

  • Balakrishnan Parasuraman
    • 1
  • Beatrice Lim
    • 3
  • Fumitaka Furuoka
    • 2
  • Catherine Jikunan
    • 4
  • Lo May Chiun
    • 5
  1. 1.Faculty of Entrepreneurship and BusinessUniversiti Malaysia Kelantan (UMK)Kota BahruMalaysia
  2. 2.University of MalayaKuala LumpurMalaysia
  3. 3.Universiti Malaysia SabahKota KinabaluMalaysia
  4. 4.Malaysian Trade Union CongressKota KinabaluMalaysia
  5. 5.Universiti Malaysia SarawakKota SamarahanMalaysia

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