The book provides insight into the financial development in Malaysia and conceptualises it as a political process. It echoes a concern in political economy literature, namely the evolving relationship between states and markets, and the supposed retreat or reassertion of the state at a time of increasing (financial) globalisation.

Lena Rethel is Associate Professor of International Political Economy at the University of Warwick.

1. Introduction 2. The Politics of Financial Development 3. The Evolution of Malaysian Capitalism and Financial Policymaking 4. Financial Modernisation and Banking Reform 5. Financial Deepening and the Development of the Capital Market 6. Concluding Remarks