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008 210830t19921992si fo d z eng d
020 _a9789813016033
_qprint
020 _a9789814414289
_qPDF
024 7 _a10.1355/9789814414289
_2doi
035 _a(DE-B1597)9789814414289
035 _a(DE-B1597)492205
035 _a(OCoLC)1041992581
040 _aDE-B1597
_beng
_cDE-B1597
_erda
072 7 _aBUS045000
_2bisacsh
084 _aonline - DeGruyter
100 1 _aClaassen, Emil-Maria
_eautore
245 1 0 _aFinancial Liberalization and Its Impact on Domestic Stabilization Policies :
_bSingapore and Malaysia /
_cEmil-Maria Claassen.
264 1 _aSingapore :
_bISEAS Publishing,
_c[1992]
264 4 _c©1992
300 _a1 online resource (36 p.)
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 0 _tFrontmatter --
_tTable of Contents --
_tList of Figures --
_tAcknowledgements --
_t1. Introduction: Real Appreciation as an Outcome of Financial Liberalization --
_t2. Comparative Country Analysis --
_t3. Singapore's Dilemma of Financial versus Commercial Priorities --
_t4. Malaysia's Semi-Dutch Disease --
_t5. Conclusion: Similarities and Differences of the Singaporean and Malaysian Experiment --
_tNotes --
_tReferences
506 0 _arestricted access
_uhttp://purl.org/coar/access_right/c_16ec
_fonline access with authorization
_2star
520 _aFull convertibility on the capital account brings with it the danger of real appreciation of the domestic currency as a consequence of additonal net capital imports. The real appreciation, in its turn, disfavours exports. At the end of the 1970s, Singapore and Malaysia had liberalized almost completely their international capital flows. Both countries experienced approximately the same growth and inflation rate. During the first hald of the 1980s, both currencies went through a considerable appreciation of their real efective exchange rates, since at that particular period both pegged their currencies to the U.S. dollar. In 1985, both were "an island of recession" when industrialized Asian and other developing countries passed through an economic boom. The recession was an outcome of their domestic stabilization policies. Singapore, which developed towards an international financial centre, had to assure the "quality" of its domestic currency in order to overcome the regualtory and fiscal advantages of Asian dollar deposits. The Singapore dollar became misaligned since financial priorities overruled commercial considerations. In contrast, Malaysia's real effective appreciation was the outcome of its huge government expenditures since it fell into the trap of the Dutch disease after the commodity price boom of 1979/80.
530 _aIssued also in print.
538 _aMode of access: Internet via World Wide Web.
546 _aIn English.
588 0 _aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021)
650 7 _aBUSINESS & ECONOMICS / Money & Monetary Policy.
_2bisacsh
850 _aIT-RoAPU
856 4 0 _uhttps://doi.org/10.1355/9789814414289
856 4 0 _uhttps://www.degruyter.com/isbn/9789814414289
856 4 2 _3Cover
_uhttps://www.degruyter.com/cover/covers/9789814414289.jpg
942 _cEB
999 _c293630
_d293630