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Product Overview

This case series brings to life a dramatic juncture in the modern economic history of Malaysia. The Asian Financial Crisis, triggered by the devaluation of the Thai baht in July 1997, required a policy response by the Malaysian leadership. The cases highlight the decision of Prime Minister Mahathir to impose capital controls and limit economic austerity, a policy mix which defied conventional wisdom espoused by the leaders from many developed countries. This defiant move followed a series of economic development initiatives instituted by Dr. Mahathir that promoted rapid economic growth and economic equality across ethnic groups. The cases permit an exploration of leadership at a country-level, as well as allow students to explore the interplay between exchange rate regimes and capital control policies on a technical level. This case series is intended for use in courses covering the political economy as it relates to the business environment. When used with the technical note, these cases are appropriate for international economics or finance courses.