Malaysia: Selected Issues

International Monetary Fund

No 1999/086, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper analyzes the use of capital controls and evolution of the capital control regime in Malaysia. The paper highlights that following a period of strong downward pressures on the ringgit, the Malaysian authorities introduced on September 1, 1998 a wide range of capital controls along with pegging the exchange rate at RM 3.8 vis-à-vis the U.S. dollar. The paper provides a brief review of Malaysia’s approach to capital account liberalization prior to September 1998. It also reviews the circumstances surrounding the imposition of the controls in September 1998, and their impact.

Keywords: ISCR; CR; Malaysia; exchange rate; ringgit; federal government; bank; private sector; federal government budget; states expenditure responsibility; banking system; export elasticity; government task; investment program; Exchange rates; Inflation targeting; Exchange rate flexibility; Corporate sector; East Asia; Asia and Pacific; Global (search for similar items in EconPapers)
Pages: 150
Date: 1999-09-14
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Citations: View citations in EconPapers (4)

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