Malaysia's puzzling monetary policy

Article Abstract:

Bank Negara Malaysia has limited bank loans to non-productive sectors such as the real estate industry and securities industry. The decision has created a wave of confusion among investors who are waiting for the effects of the new policy on the industries. Malaysia's economy has slowed down because of the increased rates imposed by Bank Negara in 1996 that caused a higher rate differentials between Malaysian and foreign rates. The increased differential led to excess liquidity and caused economic problems.

Central Bank & Govt Reserves, Central banks, Malaysia, Bank Negara Malaysia

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The siren song of exchange controls tempts investors

Article Abstract:

Asian economies should properly and substantially evaluate the concept of currency covertibility and capital control before following Malaysia's policy and adopting it in their own countries. Capital control is a dire measure implemented by a government to curb foreign speculation and to protect the economy from being severely hurt by other economies in crises. Currency convertibility often leads to tyranny and totalitarianism but dressed in a more attractive suit.

Administration of General Economic Programs, Currency Stabilization Programs, Evaluation, Economic aspects, Foreign exchange, Asia, Currency stabilization, Capital movements

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Don't look now, credit already is easing in China

Article Abstract:

China has already started easing its credit policies despite the government's pronouncements to the contrary. The Chinese government tightened credit in 1993 in an effort to arrest inflation and cool the country's overheating economy. Statistics show that credit is steadily easing and analysts predict that this trend will continue on to mid-1996 then taper off when nominal credit growth reaches 26%.

China

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