Chapter

Malaysia and the Global Crisis: Impact, Response, and Rebalancing Strategies

Shankaran Nambiar

in The Global Financial Crisis and Asia

Published in print October 2012 | ISBN: 9780199660957
Published online January 2013 | e-ISBN: 9780191748981 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199660957.003.0011
Malaysia and the Global Crisis: Impact, Response, and Rebalancing Strategies

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This chapter argues that Malaysia, being a small open economy with a strong export-dependent manufacturing sector, was particularly vulnerable to the global financial crisis. This chapter discusses the importance of trade to the economy and Malaysiafs reliance on demand generated by developed economies. The chapter analyzes the impact of the current crisis on the Malaysian economy and highlights the need to find new ways of thinking about how the country should re-position itself, since the crisis undermines the assumptions on which the countryfs growth strategy is based. It then suggests that Malaysia adopt a rebalancing strategy in response to the crisis.

Keywords: Malaysian economy; financial crisis; export dependency; rebalancing strategy; policy response; impact of crisis

Chapter.  10365 words.  Illustrated.

Subjects: Financial Markets

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