The Asian Crisis, the IMF and Dr Mahathir, Intereconomics 34:4, 1999.
Wengel, J. ter
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In the 1997-8 Asian crisis, the IMF's strategy was to impose deflationary measures on Thailand and Korea. With the help of the dependent-economy model it is found that this strategy was unnecessarily restrictive and that Malaysia's solution of introducing temporary capital controls was not necessarily a bad idea.