FinObservatory

Crisis atlas / MYS / 1997–2002

Malaysia, 1997–2002

One crisis episode: distinct crisis years merged across gaps of up to two non-crisis years. Types, source agreement, and macro context are drawn from the union of five primary chronologies.

BankingCurrency

Crisis years in this episode

Every distinct (year, type) event inside the 1997–2002 window, with the chronologies flagging it and the count of agreeing sources. Start-year sources (GMD, JST) mark only the first year, so agreement falls in the continuation years.

  1. 1997
    Bankinggmd, laeven_valencia, rr3 sources
    Currencyrr1 source
  2. 1998
    Bankinglaeven_valencia, rr2 sources
    Currencygmd, laeven_valencia2 sources
  3. 1999
    Bankinglaeven_valencia, rr2 sources
  4. 2000
    Bankingrr1 source
  5. 2001
    Bankingrr1 source
  6. 2002
    Bankingrr1 source

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Laeven-Valencia banking-crisis detail

Episode-level fiscal cost and output loss from the systemic banking crises database. Fiscal cost is the gross outlay of banking-sector rescues; output loss is the cumulative deviation of real GDP from its pre-crisis trend, both as a percent of GDP.

Banking episode 1997–1999
16.4%
Fiscal cost, % of GDP
31.4%
Output loss, % of GDP
1999
Episode end year

Source: Laeven & Valencia (2026), IMF WP/26/94, Systemic Banking Crises Database 1970-2025 Methodology

Macro context, 19902009

Seven years either side of the episode. Each panel has its own scale; the crisis window is shaded. Only indicators with data for Malaysia in this window are shown. Bank credit growth (year over year in total loans) is available for the 18 Jordà-Schularick-Taylor advanced economies.

Inflation (% y/y)
0246199019972009
Real GDP growth (% y/y)
-1001020199019972009
Policy rate (%)
0510199019972009
Govt debt (% of GDP)
0255075199019972009
Unemployment (%)
0246199019972009
Current account (% of GDP)
-1001020199019972009

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 (credit) Real GDP growth is derived as the year-over-year change in real GDP; current account and government debt are percent of GDP; policy rate is the central-bank rate; bank credit growth is the year-over-year change in JST total loans. Methodology

How each source dates this episode

The chronologies disagree on start years and durations. This table is generated from the event rows, not curated: it lists, per crisis type, which source flags which years inside the window.

Banking
  • Global Macro Database1997
  • Laeven-Valencia1997, 1998, 1999
  • Reinhart-Rogoff1997, 1998, 1999, 2000, 2001, 2002
Currency
  • Reinhart-Rogoff1997
  • Global Macro Database1998
  • Laeven-Valencia1998

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Documented policy responses

3 interventions from the Metrick-Schmelzing banking-crisis database whose recorded year falls inside this episode window (1997–2002). Each row is one documented government or central-bank action, tagged with the database’s own intervention categories and short code, under the crisis code it assigns. Matching is exact: same country, intervention year inside the window. The database’s global-crisis rows (no country) are never matched here.

MYS-1997Malaysia
  1. Early 1998GuaranteesAG
  2. Early 1998LendingBBEL
  3. Jun-1998Asset managementBBAM

Source: Metrick-Schmelzing Banking-Crisis Interventions Database (Yale Program on Financial Stability) Cite as: Metrick, Andrew, and Paul Schmelzing, "Banking-Crisis Interventions Across Time and Space," working paper, 2024 (dataset consulted 2026-07-10). License: Creative Commons attribution. Methodology

Policy-response case studies (external)

For qualitative accounts of how authorities intervened in systemic crises, see the Yale Program on Financial Stability New Bagehot Project, a library of financial-crisis intervention case studies. It is a separate qualitative resource; no specific case is asserted to match this episode.