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Focusing on Malaysia's shifting economic profile and position, this book offers new insights and perspectives to scholars and researchers on a range of new developments impacting on growth, such as the effects of the digital economy on job creation and the threats of environmental degradation and trade protectionism.
Charting the Economy assesses the course of Malayas commodity-dependent economy during the first 40 years of the 20th century under British colonial control, contrasting it with economic growth and development in contemporary Malaysia. Drawing on archival documents to derive estimates of Malayas GDP and analysing trends, it breaks new ground in understanding the dynamics of economic performance. In the first half of the 20th century, the Malay Peninsula, like much of Southeast Asia, was under colonial rule. Colonialism facilitated the control of lands, institutions and peoples, as well as the exploitation of natural resources. Malayas economy was largely agrarian, supported by two primary commodity pillarstin and rubberproduced to meet the needs of the industries and people in Europe and North America. Sultan Nazrin Shah eloquently articulates how the economy rode a commodity roller-coaster. Being small and open, it was exceedingly vulnerable to external cyclical shocksWorld War I (19141918), the Roaring Twenties (19201929), and the Great Depression (19291932)which were the main causes of economic booms and busts. This book makes a compelling case that the colonial laissez-faire economic system worked well for the agency houses that repatriated huge profits but paid small dividends to the masses. Development was highly uneven, with growth and prosperity concentrated in and benefiting the Peninsulas west coast states, where most of the tin mines and rubber plantations were located. After independence, national control over economic management was accompanied by a long-term vision for a socially just nation. Real GDP growth in post-independence Malaysia brought rapid advances in standards of living.
This pioneering volume develops an institutionalist analysis of Malaysias post-colonial economy by exploring the political economy of development and particularly the interface between economics and law. The various authors show that economic policy initiatives in Malaysia have often been accompanied by corresponding legislative and regulatory reforms intended to create an appropriate legal environment, and that economic problems or crises arising from earlier policies have led to major legislative innovations.
This book considers crucial changes to Malaysian economic areas and social well-being. The chapters cover diverse industries such as IT, green technology, retailing, banking, tourism and hospitality, education, logistics, finance, banking, and many others.
The authors review the direction of politics after Prime Minister Mahathir, as well as exploring Malaysia's foreign, education, and labour policies. They canvass the idea of a "new Malay", better adapted to modern society, investigate the position of the Chinese, examine the struggle for women's rights within the religious framework of Islam, and discuss the contributions of Malaysian NGOs to ongoing changes. They finally draw together crucial issues facing Malaysia in the 21st century.
This book uses the concepts of rent and rent-seeking to study Malaysian political economy.
This book examines the national automotive policy in Malaysia to help readers gain an understanding of the country’s industrial policy-making processes. Addressing a gap in analysis of the political economy of the national automotive policy, the research presented combines the new institutional theory and the developmental state approach to provide new insights into elite policymakers’ measures to shield domestic automotive enterprises from pro-market reforms. The formation of the national car project marks a turning point for Malaysia's industrial development as a country, which it envisions will lead to it becoming a major player in the global automotive market. However, the domestic institutional factors embedded in ethno-economic interests and patronage constrain national car-makers, limiting their potential to grow, and instead causing a slowdown in the industry. Allowing readers to understand the background to Malaysia’s heavy industrialisation programme and the birth of its national car projects, this book critically discusses the significance of institutional context in policy outcomes, and highlights how institutions and policies have impact growth or decline. It is a valuable resource relevant to analysts, researchers and students who are interested in the political economy of the national industrial policy and automotive industry in Malaysia and beyond.
Like many other countries, Malaysia was hit hard by the COVID-19 pandemic starting in early 2020. Its past policy prudence has allowed Malaysia to react swiftly and boldly to the public health and economic crisis.
This book sheds new light on the evolutionary role of financial system and the interacting mechanisms between financial development and economic growth in the context of Malaysia.
An Economic History of Malaysia, c.1800-1990 , provides the first general history of the Malaysian economy over the past two centuries, including a survey of the pre-colonial era. A unique feature is that it integrates the historical experiences of Peninsular Malaysia, Sabah and Sarawak as a case study in the onset of modern economic growth. Particular attention is paid to explaining Malaysia's signal success in achieving a relatively smooth shift away from the primary commodity export economy of the colonial period to near-NIC status by 1990.