The study seeks to examine the impact of financial deregulation on the money demand in Malaysia and the implication of altered money demand pattern on the Malaysian monetary conduct. It also attempts to investigate the currency substitution effect as result of the financial market development...

The paper investigates the importance of external factors in the domestic interest rate determination process and measures the openness and adjustment speed of Malaysian financial market. It also seeks to capture the effects of the Asian Financial Crisis 1997 (AFC) and the Malaysian government...