[0]https://www.tandfonline.com/doi/full/10.1080/03086534.2013.7 https://www.tandfonline.com/doi/full/10.1080/03086534.2013.7... Although the Malaysian economy

[0]https://www.tandfonline.com/doi/full/10.1080/03086534.2013.7 https://www.tandfonline.com/doi/full/10.1080/03086534.2013.7... Although the Malaysian economy and population were much larger than Singapore's, as the international financial and commercial centre for the Malaysian peninsula and with per capita income more than twice that of Malaysia, we might expect ex ante that Singapore would be in a strong position to determine the arrangements. But contemporary views were more optimistic about the development of the Malaysian economy than that of Singapore in the late 1960s. In addition, Malaysia had already developed a central bank, which placed it in a more powerful position to lead the discussions on monetary reform. Ultimately, Singapore's distrust of the Malaysian administration led to the abandonment of the efforts at continuing the monetary integration of the two territories.