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Financialisation and the Malaysian political economy
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Rethel, Lena (2010) Financialisation and the Malaysian political economy. Globalizations, Vol.7 (No.4). pp. 489-506. doi:10.1080/14747731003798476 ISSN 1474-7731.
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Official URL: http://dx.doi.org/10.1080/14747731003798476
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 | ||||
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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 |
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Divisions: | Faculty of Social Sciences > Politics and International Studies | ||||
Journal or Publication Title: | Globalizations | ||||
Publisher: | Routledge | ||||
ISSN: | 1474-7731 | ||||
Official Date: | 2010 | ||||
Dates: |
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Volume: | Vol.7 | ||||
Number: | No.4 | ||||
Number of Pages: | 18 | ||||
Page Range: | pp. 489-506 | ||||
DOI: | 10.1080/14747731003798476 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
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