Responding to the Asian Financial Crisis: Malaysian Capital Controls and Their Implications for Tourism

摘要

The Asian financial crisis has had an impact on both the Malaysian economy and its tourism industry. This paper summarizes recent developments and critically examines the capital controls imposed as part of the government S response strategy and their consequences. Issues addressed relate to the relationship between economic movements and tourism with a conclusion that recovery of the tourism sector is likely to be hindered by current economic policy unless sound strategies are put in place in the process.