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Title: Financial reform in Malaysia - an economic analysis
Authors: Chan, Walter Kam Hon
Lim, Lee Ngoh
Tan, Sze Gar
Keywords: DRNTU::Business
Issue Date: 1995
Abstract: Many of the developing countries m the Asian region have witnessed rapid economic growth in recent years, with significant improvement m the welfare of most of its population as well as dramatic changes in its economic structure. In contrast, the world economy, in particular the industrialised countries, has experienced poor performance. Malaysia, for one, is capturing the attention of many economists and academicians due to its phenomenal economic growth achieved in the last seven years. Malaysia's success story is due in large part to the comprehensive financial reform measures implemented since the 1970s. These measures were instituted in recognition of the fact that greater reliance on prices and on market forces would result in a better allocation of resources, more cdmpetition and ultimately, more output and faster growth.Malaysia's financial reform, like most other developing countries, took the form of liberalising the financial system and strengthening the financial structure. The former entailed liberalising interest rates, relaxing credit controls, adopting a more flexible exchange rate regime and liberalising the capital account. The latter encompassed instituting improvements to the financial system's regulatory and supervisory framework, widening the scope ofthe financial institutions' activities, expanding the number of financial instruments available, and deepening the money and capital markets. All these measures were implemented to promote a more sound, competitive, and efficient financial system which is capable of withstanding external shocks and responding in a more timely manner to the challenges of tomorrow.
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

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