Rethel, Lena. (2010) Financialisation and the Malaysian political economy. Globalizations, Vol.7 (No.4). pp. 489-506. ISSN 1474-7731

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Abstract

This paper argues that taking a short-term look at Malaysia's response to the financial crisis of 1997–1998 does not adequately assess the socio-economic transformation that was propagated by the crisis. Most importantly, it falls short of accounting for the shift from a bank-based to a capital market-based financial system that occurred in post-crisis Malaysia and the ensuing increasing financialisation of Malaysian capitalism. This shift has significantly affected both corporate and individual financial cultures and led to the emergence of a new politics of debt. It coincides with rising levels of household indebtedness. Moreover, it has set in motion a metamorphosis of the institutions set up to govern Malaysian capitalism.

Item Type:	Journal Article
Subjects:	J Political Science > JC Political theory J Political Science > JQ Political institutions (Asia, Africa, Australia, Pacific Area, etc.) J Political Science > JZ International relations
Divisions:	Faculty of Social Sciences > Politics and International Studies
Journal or Publication Title:	Globalizations
Publisher:	Routledge
ISSN:	1474-7731
Date:	2010
Volume:	Vol.7
Number:	No.4
Number of Pages:	18
Page Range:	pp. 489-506
Identification Number:	10.1080/14747731003798476
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
URI:	http://wrap.warwick.ac.uk/id/eprint/43057

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