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The 1997-98 financial crisis in Malaysia: causes, response, and results – A Rejoinder

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Keywords
  • F31 - Foreign Exchange
  • F39 - Other

Abstract

This rejoinder refutes the comments of Mohamed Ariff and Faiz Mohammad on the author’s article: The 1997-98 Financial Crisis in Malaysia: Causes, Response, and Results”, published in the Islamic Economic Studies, Vol. 9 No. 2, 2002. My basic difference with the reviewers is this: they maintain that weaknesses of the sort piling up in the economy over the years invited currency attack, while I have reasons to believe that it came to Malaysia independently of her fundamental, rather eroded them in its aftermath. This rejoinder provides further evidence on why I stick to this position regardless of the reviewers’ comments.

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