Capital curbs gain acceptance

Article Abstract:

A number of economists have accepted Malaysian Prime Minister Mahathir Mohamad's policy of capital control as an alternative means of economic reform. Moreover, several Asian economies are tightly watching the results of Mahathir's policy, so as to simulate the same policy if ever it works out for the better of Malaysian economy. Malaysia previously adopted the International Monetary Fund's (IMF) solution of an austere fiscal and monetary policy but to no avail. Malaysia's GDP substantially decreased as much as 7% in the second quarter of 1997, prompting the new policy of capital control.

Economic Programs, Administration of Economic Programs, Economic policy, Malaysia, Mahathir Mohamad, Capital movements

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Multiple crises challenge notion of the economic miracle

Article Abstract:

Asia's multiple financial and economic woes are starting to weaken the long-held belief on the region's economic miracle. During a conference in Manila, Philippines, organized by the World Bank and Asian Development Bank, economists struggle to assess the boom and collapse of Asian economies. Meanwhile, there is growing criticism against the International Monetary Fund (IMF) for insisting on stringent budget targets and high interest rates as conditions for IMF's bailout to the ailing Asian countries.

Administration of General Economic Programs, Economic Planning & Research, International Monetary Fund, Economic conditions, Economic development, International relations, Asia, Recessions

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