As Malaysia's government responded to the 1997-98 financial crisis, the global financial community criticised its measures as bail outs for politically-influential corporate interests. This book examines the Asian crisis and government policy responses, with emphasis on capital controls as well as corporate, bank and debt restructuring exercises.

Summary: "Malaysia's former Prime Minister Mahathir Mohamad is often seen as the sole author of the country's foreign policy. Malaysian Foreign Policy in the Mahathir Era shows that while Mahathir's personality, leadership style, political ideology and brand of nationalism unquestionably had a deep impact, so too did domestic issues and external forces associated with globalization. The book examines seven major foreign policy initiatives of the Mahathir period: Buy British Last, Anti-Commonwealth, Look East, Third World Spokesmanship, Regional Engagement, Islamic Posturing and Commercial and Developmental Diplomacy. In discussing these topics, the author explains the significance for foreign policy of communal concerns, the regime's need to maintain its own authority in the face of political and social initiatives (some rooted in Islam), and its desire to achieve national development. He also discusses external pressures, including Japan's regional designs, Singapore's defense posture and the growing importance of China for the region. The approach breaks away from the elitist decision making styles and single factor models usually employed to explain the foreign policy of developing nations, and establishes a direct link between domestic politics and foreign policy during the period studied, suggesting that the latter was truly an extension of the former."--Publisher description.

The study calls for a two-track strategy: first, deep multilateral liberalization involving phased but complete elimination of industrial-county protection and deep reduction of protection by at least the middle-income developing countries, albeit on a more gradual schedule; and second, immediate free entry for imports from high risk low-income countries (heavily indebted poor countries, least developed countries, and sub-Saharan Africa), coupled with a 10-year tax holiday for direct investment in these countries.

This book provides an overview of the current state of Malaysia, looking at political developments and at governance, and discussing the impact of ethnicity, patronage and the reform movement.

This book uses the concepts of rent and rent-seeking to study Malaysian political economy.

"Provide[s] an in-depth and multifaceted study of the processes of ethnicization and identity construction in Malaysia, from the colonial period until the present"--Publisher's description.

This pioneering volume develops an institutionalist analysis of Malaysias post-colonial economy by exploring the political economy of development and particularly the interface between economics and law. The various authors show that economic policy initiatives in Malaysia have often been accompanied by corresponding legislative and regulatory reforms intended to create an appropriate legal environment, and that economic problems or crises arising from earlier policies have led to major legislative innovations.