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Malaysia: New Reforms, Old Continuities, Tense Ambiguities

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  • William Case

Abstract

Of the countries hit by the Asian economic crisis in 1997, Malaysia was the least hurt. The government was thus initially able to reject neo-liberal prescriptions, instead administering capital controls and corporate bailouts. However, despite short-term success, different kinds of foreign investors, top politicians and business elites, and mass-level constituencies gradually forced wide policy swings. Facing contrary pressures, the government fluctuated between 'orthodox' regimens of neo-liberal reforms and good governance agendas on one side and patronage and corrupt practices on the other. This article analyses these fluctuations, then speculates that re-equilibration may have recently have taken place.

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  • William Case, 2005. "Malaysia: New Reforms, Old Continuities, Tense Ambiguities," Journal of Development Studies, Taylor & Francis Journals, vol. 41(2), pages 284-309.
    • Handle: RePEc:taf:jdevst:v:41:y:2005:i:2:p:284-309
    DOI: 10.1080/0022038042000309250
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    References listed on IDEAS

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    1. Ethan Kaplan & Dani Rodrik, 2002. "Did the Malaysian Capital Controls Work?," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 393-440, National Bureau of Economic Research, Inc.
    2. Stephan Haggard, 2000. "Political Economy of the Asian Financial Crisis, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 107.
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    Cited by:

    1. Edo Andriesse & Guus Westen, 2009. "Unsustainable varieties of capitalism along the Thailand–Malaysia border? The role of institutional complementarities in regional development," Asia Pacific Journal of Management, Springer, vol. 26(3), pages 459-479, September.
    2. Fung, Simon Y.K. & Gul, Ferdinand A. & Radhakrishnan, Suresh, 2015. "Corporate political connections and the 2008 Malaysian election," Accounting, Organizations and Society, Elsevier, vol. 43(C), pages 67-86.
    3. Fulya Apaydin, 2018. "Regulating Islamic banks in authoritarian settings: Malaysia and the United Arab Emirates in comparative perspective," Regulation & Governance, John Wiley & Sons, vol. 12(4), pages 466-485, December.
    4. Andriesse, E., 2006. "Regional varieties of capitalism': inter-firm relations and access to finance in Satun (Thailand) and Perlis (Malaysia)," ISS Working Papers - General Series 19192, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    5. Noore Siddiquee, 2010. "Combating Corruption and Managing Integrity in Malaysia: A Critical Overview of Recent Strategies and Initiatives," Public Organization Review, Springer, vol. 10(2), pages 153-171, June.

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