THE ASIAN CRISIS

Indonesia and the IMF compared to Malaysia's state-led recovery

Georgia Lysaght

Research program: Globalisation and International Development

My research compares the long-term impact of Indonesia and Malaysia's recovery programs after the Asian crisis. Specifically, it compares the International Monetary Fund's (IMF) program prescriptions that were applied in Indonesia, to the state-led program that was carried out in Malaysia under then Prime Minister Mahathir. Presently I am exploring the argument that neoliberal economic conditions are desirable for all states regardless of their current economic situation, a view which is held by all major Washington-based international financial institutions. I am also looking at the various forms of opposition both President Suharto and Prime Minister Mahathir faced during 1997 and 1998, and why, in the case of Suharto, this led to his downfall.