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From Currency Crisis to Recession
Annual Changes in Gross Domestic Product by
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adversely affected Anwar Asia asset price Bank Negara Malaysia banking system billion Bumiputera capital controls capital flight cent central bank collapse commercial banks corporate crises current account deficits declined dollar East Asian effects employment especially exacerbated exchange rate export Figure financial crisis financial institutions financial liberalisation financial system flows foreign borrowings foreign capital inflows foreign direct investment foreign exchange foreign portfolio investment growth households impact increased Indonesia industrial inflation interest rates international financial investors Jomo KLCI Kuala Lumpur labour lending macroeconomic Mahathir mainly Malaysian economy Malaysian ringgit manufacturing measures non-performing loans NPLs official outflows policy responses political portfolio investment inflows pre-crisis private sector production quarter of 1998 Quarterly recession reforms region retrenchments ringgit RM million September 1998 share short-term debt Singapore Source South Korea Southeast Asian stock market Table Thai baht Thailand trade volatility vulnerable workers