Malaysia: Recent Economic Developments

International Monetary Fund

No 1999/085, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper describes economic developments in Malaysia in 1998. Most major sectors recorded lower output in 1998, with the manufacturing and construction sectors among the hardest hit. Manufacturing output contracted by 10.2 percent in 1998, following strong, robust growth averaging 13.5 percent in 1994–97. Falling domestic demand and, to a lesser extent, weaker overseas orders were the major factors behind the decline. The decline, which gathered momentum over the course of the year, was broad-based across industries, and was more pronounced in industries producing construction-related materials and transport equipment.

Keywords: ISCR; CR; exchange rate; U.S. dollar; financial crisis; private sector; foreign direct investment; monetary policy; BNM intervention rate; capital market; Commercial banks; Capital outflows; Capital controls; Global (search for similar items in EconPapers)
Pages: 80
Date: 1999-09-14
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