Malaysia
The Central Bank and the Financial System in Malaysia - A Decade of Change 1989-1999
SYNOPSIS: This book focusses on developments since the end of the last recession until the present i.e. covering the period 1988 to 1999. This period was chosen as it captures a full business cycle of the Malaysian economy, from the economic recovery from the 1985 recession followed by the years of strong growth to the Asian financial crisis and the current economy recovery.
LanguageStock Ref.Price (RM)*English (Soft Cover)
ISBN: 983-9586-28-9DCES25.00English (Hard Cover)DCEH35.00Malay (Soft Cover)
ISBN: 983-9586-27-0PDMS25.00Malay (Hard Cover)PDMH35.00* Price not inclusive of postage
PRESS RELEASE: To commemorate the 40th anniversary of Bank Negara Malaysia as the nation's monetary authority, the Bank has published a book entitled "The Central Bank and the Financial System in Malaysia - A Decade of Change". The book was launched by the Governor, Y. Bhg. Tan Sri Dato' Seri Ali Abul Hassan bin Sulaiman at the Bank's annual dinner on Saturday, 20 November 1999.
In the light of financial liberalisation and reforms since the 1980s, the financial system in the country has undergone significant structural developments. During this period, the economy also experienced two recessions. A mere update of the fourth edition of the Money and Banking in Malaysia (1959-1994) for the 40th anniversary would not do justice in explaining these structural developments. Hence, the Central Bank has chosen instead to publish this new book in conjunction with the 40th anniversary of the Bank. This book presents a description and analysis of the significant structural changes in the financial system and the economy during the past decade, a period which was marked by significant changes and challenges, and aptly described as a decade of change.
This book focuses on developments since the end of the last recession until the present, i.e. covering the period 1988 to 1999. This period was chosen as it captures a full business cycle of the Malaysian economy, from the economic recovery from the 1985 recession followed by the years of strong growth to the Asian financial crisis and the current economic recovery.
The book also focuses on the role and contribution of the Bank in managing the economy and the financial system. Major changes occurred during this period, which influenced the development of the financial system and the economy throughout the decade. This book, therefore, highlights how in the light of these changes, the conduct of policy by the Bank has changed and how the Bank's scope of work has evolved in order to fulfil its objectives more effectively. It also presents the philosophy and rationale of the Bank's policies, as well as the Bank's vision in promoting the further development of the financial sector.
The contents of the book are summarised as follows:
Part I: The Economy and the Financial System
This part introduces the readers to the Malaysian economy and the role of the financial system in the economy. It provides an overview of the developments and structural changes in the economy during the last decade. The role of the financial system in the economy is analysed in the context of the increased globalisation and liberalisation that has taken place. The role of the financial sector in the payments system is also discussed.
Part II: Bank Negara Malaysia
This part explains the role played by the Bank in developing the financial system and the economy. It highlights changes in the conduct of policy of the Bank as well as the evolution of the scope of the Bank's work given the developments in the domestic economy, and the implications of the increased globalisation and liberalisation on the domestic financial system.
Part III. Monetary and Financial Stability
The principal functions of the Bank in terms of the conduct of monetary policy and the management of the financial system to maintain monetary and financial stability is covered in this part. The chapters discussed the philosophy and rationale of policies undertaken by the Bank in performing these functions. A significant portion is devoted to the role of the Bank in managing the banking system, the insurance sector and in developing Islamic banking and takaful.
Part IV: Financial Markets
This part focuses on the developments and structural changes that have taken place in the financial markets. It discusses the role of the Bank in promoting the development of the financial markets. Insights on the future development of the markets from the Bank's perspective are also highlighted.
Part V: Financial Institutions and Offshore Centre
This part covers mainly the institutional aspects of the development of the financial sector. It describes the performance and operations of banking institutions, the insurance industry and other non-bank financial institutions during the decade. In this context, the chapters focus on the challenges and developments in each group of institutions as they adjusted and responded to the structural changes that occurred in the economy. It also includes a chapter on the development of the Labuan International Offshore Financial Centre
Part VI: Management of the Economy During the Asian Crisis
The Asian Crisis was indeed the most prominent event of the decade. A whole chapter has been devoted to analyse the impact of the crisis on the financial sector and the economy in addition to a comprehensive review of Malaysia's policy responses. It also includes a brief review of the current debate on the causes of the crisis, and the efforts towards a new international financial architecture.
SYNOPSIS: This book focusses on developments since the end of the last recession until the present i.e. covering the period 1988 to 1999. This period was chosen as it captures a full business cycle of the Malaysian economy, from the economic recovery from the 1985 recession followed by the years of strong growth to the Asian financial crisis and the current economy recovery.
LanguageStock Ref.Price (RM)*English (Soft Cover)
ISBN: 983-9586-28-9DCES25.00English (Hard Cover)DCEH35.00Malay (Soft Cover)
ISBN: 983-9586-27-0PDMS25.00Malay (Hard Cover)PDMH35.00* Price not inclusive of postage
PRESS RELEASE: To commemorate the 40th anniversary of Bank Negara Malaysia as the nation's monetary authority, the Bank has published a book entitled "The Central Bank and the Financial System in Malaysia - A Decade of Change". The book was launched by the Governor, Y. Bhg. Tan Sri Dato' Seri Ali Abul Hassan bin Sulaiman at the Bank's annual dinner on Saturday, 20 November 1999.
In the light of financial liberalisation and reforms since the 1980s, the financial system in the country has undergone significant structural developments. During this period, the economy also experienced two recessions. A mere update of the fourth edition of the Money and Banking in Malaysia (1959-1994) for the 40th anniversary would not do justice in explaining these structural developments. Hence, the Central Bank has chosen instead to publish this new book in conjunction with the 40th anniversary of the Bank. This book presents a description and analysis of the significant structural changes in the financial system and the economy during the past decade, a period which was marked by significant changes and challenges, and aptly described as a decade of change.
This book focuses on developments since the end of the last recession until the present, i.e. covering the period 1988 to 1999. This period was chosen as it captures a full business cycle of the Malaysian economy, from the economic recovery from the 1985 recession followed by the years of strong growth to the Asian financial crisis and the current economic recovery.
The book also focuses on the role and contribution of the Bank in managing the economy and the financial system. Major changes occurred during this period, which influenced the development of the financial system and the economy throughout the decade. This book, therefore, highlights how in the light of these changes, the conduct of policy by the Bank has changed and how the Bank's scope of work has evolved in order to fulfil its objectives more effectively. It also presents the philosophy and rationale of the Bank's policies, as well as the Bank's vision in promoting the further development of the financial sector.
The contents of the book are summarised as follows:
Part I: The Economy and the Financial System
This part introduces the readers to the Malaysian economy and the role of the financial system in the economy. It provides an overview of the developments and structural changes in the economy during the last decade. The role of the financial system in the economy is analysed in the context of the increased globalisation and liberalisation that has taken place. The role of the financial sector in the payments system is also discussed.
Part II: Bank Negara Malaysia
This part explains the role played by the Bank in developing the financial system and the economy. It highlights changes in the conduct of policy of the Bank as well as the evolution of the scope of the Bank's work given the developments in the domestic economy, and the implications of the increased globalisation and liberalisation on the domestic financial system.
Part III. Monetary and Financial Stability
The principal functions of the Bank in terms of the conduct of monetary policy and the management of the financial system to maintain monetary and financial stability is covered in this part. The chapters discussed the philosophy and rationale of policies undertaken by the Bank in performing these functions. A significant portion is devoted to the role of the Bank in managing the banking system, the insurance sector and in developing Islamic banking and takaful.
Part IV: Financial Markets
This part focuses on the developments and structural changes that have taken place in the financial markets. It discusses the role of the Bank in promoting the development of the financial markets. Insights on the future development of the markets from the Bank's perspective are also highlighted.
Part V: Financial Institutions and Offshore Centre
This part covers mainly the institutional aspects of the development of the financial sector. It describes the performance and operations of banking institutions, the insurance industry and other non-bank financial institutions during the decade. In this context, the chapters focus on the challenges and developments in each group of institutions as they adjusted and responded to the structural changes that occurred in the economy. It also includes a chapter on the development of the Labuan International Offshore Financial Centre
Part VI: Management of the Economy During the Asian Crisis
The Asian Crisis was indeed the most prominent event of the decade. A whole chapter has been devoted to analyse the impact of the crisis on the financial sector and the economy in addition to a comprehensive review of Malaysia's policy responses. It also includes a brief review of the current debate on the causes of the crisis, and the efforts towards a new international financial architecture.