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Malaysia has grown and changed a great deal since it was formed on 16 September 1963. It was then seen as an unlikely nation hastily put together as a federation of British controlled territories in the region. Brunei's refusal to join at the eleventh hour and Singapore's secession before its second birthday only seemed to confirm such doubts.Yet, it has not only survived, but even thrived, often cited as a developing country worthy of emulation. Ruled by the same ruling coalition since the mid-1950s, it has been tempting to emphasize continuities, and there certainly have been many.Looking back at its last half century, this volume first considers changes in development policy in response to national as well as international developments. The remaining three parts consider how public policy has been influenced by and has, in turn, influenced economic distribution, public finance and economic federalism.Besides the familiar focus on ethnic disparities, regional and other distribution issues are considered. The discussion of government taxation as well as spending also focuses on distribution implications. Although constitutionally a federation, Malaysia has been more centralized than most federal states.The way forward requires greater sensitivity to the complex political economy of Malaysia's unlikely, but nonetheless resilient federation and ruling coalition.This book is published and distributed worldwide by World Scientific Publishing Co Pte Ltd except Malaysia.
Economic development in the long run is seen as a process of structural change that is affected by economic growth. Malaysia is one of the middle-income economies that are going through rapid structural change. Since the mid 1980s it has changed to an industrially based economy with large-scale export of electrical and electronic components. However, thirty years after Malaysia's re-distributive policies have been exercised, regional inequality still exists. This book examines the nature and impact of regional policies in relation to the patterns of demographic and economic structural change and in relation to growth, distribution and income disparities across regions in Peninsular Malaysia. The book also explores the degree to which differences in regional manufacturing distribution and concentration have contributed to regional inequality. It concludes with a number of recommendations for regional policies that will reduce this inequality.
Monograph on relations between ethnic group-related economic disparity (racial discrimination) and economic development in Malaysia - examines the historical and theoretical background, nature, causes, extent and trends, compares economic policies before and after 1970, and evaluates possible solutions to reconcile inequality and growth (rural development and urban development policies, industrial policies, agricultural policies, educational policies, etc.). Bibliography pp. 291 to 315, glossary, references and statistical tables.
This study examines the problem of economic distribution - the distribution of economic resources focusing on income, wealth, employment, and education - in developing economies in general and in Peninsular Malaysia in particular. It aims to present a broad theoretical approach in the analysis of economic distribution.
Since the Second World War, surprisingly few developing countries have experienced a truly sustained episode of economic and social convergence towards the structural characteristics of the advanced nations. East Asia has exceeded most regions in its achievement of convergence, and much has been written on comparative industrialization and development in North East Asia. Less discussed is South East Asia and the surprising and inclusive transformation several of its countries has undergone. Development and Distribution focuses on South East Asia and, more specifically, on Malaysia, Indonesia, and Thailand. These three nations have all undergone a major transformation - in a way never anticipated - from being poor, agrarian countries to middle-income countries with developed industrial and manufacturing bases. How did Malaysia, Indonesia, and Thailand achieve such a transformation, and how did they achieve the transformation with a form of economic growth that was driven by structural transformation, but that was 'inclusive'? Given that historically it has been thought that structural transformation tends to push up inequality, whilst inclusive growth necessitates static or even falling inequality, this last point is particularly salient to developing countries. Understanding how the transformation was possible in a relatively small space of time, the extent to which it was inclusive, and the caveats and prospects for South East Asia is thus an area of enquiry significant to all developing countries as they seek economic and social transformation.
Emerging economies, as actively changing societies, invoke questions about the future direction for national and global development as well as equitable economic growth. In this book, the Editors argue that understanding the corporate management ecosystem of emerging economies is key to business success in the globalized economy. Discussing the key attributes of emerging economies (for example, population dynamics, labour and production patterns, employment, and foreign direct investment) and the connection with governance, marketing, innovation management, and supply chain research and practice, the book highlights the distinctiveness of corporate management dynamics in comparison with existing knowledge that is dominated by developed country frameworks. The book offers twenty-one case studies that cover examples of corporate management research and practice in both local and international companies, making this a valuable resource for students, academics and industry stakeholders.
Malaysia was once on the cusp of becoming one of the ‘Asian Tigers’ as a result of the impressively high growth rates recorded in the early 1990s. From 1990 until 1997, the growth rate was above 9 percent per annum on average. This performance came to an end when the economy was struck by the 1997/98 Asian Financial Crisis, the worst economic crisis Malaysia has ever experienced since independence. Things eventually worsened with the onslaught of the 2008/09 Global Financial Crisis, which dragged the Malaysian economy yet into another round of a recession with the growth rate contracting at 1.5 percent in 2009. On hindsight, these two events, which have had a substantial impact on the state of the Malaysian economy, pointed to several urgent calls for economic reforms, such as the need to address structural weaknesses of the economy and to have a growth target which is both sustainable as well as inclusive. When Datuk Seri Najib Razak became the sixth Prime Minister of Malaysia from April 2009 until May 2018, it was clear that a new approach to economic development for Malaysia had to be crafted. Towards this end, he introduced the National Transformation Policy (NTP), so that the economy can be transformed into one that is of high-income and developed status by the year 2020. He also set a new vision for Malaysia, also known as the 2050 National Transformation, or TN50, which is meant to chart a new course for Malaysia to move into the second half of the 21st century. How successful is this transformational agenda? What are the other issues and challenges which need to be addressed? What important lessons can we learn from this transformational journey? This book is an attempt to address these specific questions by assessing Najib’s economic plans, policies, programmes and vision which evolved during the nine years of his term as the sixth Prime Minister of Malaysia.
Economic Development in Ghana and Malaysia investigates why two countries that appeared to be at more or less the same stage of economic development at one point in time have diverged so substantially. At the time of their independence from the UK in 1957, both Ghana and Malaysia were at roughly the same stage of economic development; in fact, Ghana’s real per capita income was slightly ahead of Malaysia’s. Since then, Ghana’s development has been sluggish, while Malaysia’s economy has taken off into sustained growth and today, the real per capita income of Malaysia is about five times that of Ghana. This volume examines the pre-colonial and colonial economies of both countries, and the economic policies pursued after independence. In doing so, it aims to identify policies which might have contributed to Malaysia’s development and those which might have slowed Ghana’s. The authors ask whether lessons can be learned from the successes of countries such as Malaysia. This detailed comparative analysis will be useful to students and researchers of development economics as well as public policy makers in developing countries. It is written in language which makes it accessible to the general reader.