Malaysia Economic Monitor, June 2013 : Harnessing Natural Resources
Following a strong performance in 2012, Malaysia's economy hit a soft patch in the first quarter of 2013. Economic growth has been supported by the strong, broad-based performance of domestic consumption and investment from public and private...
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| Format: | Economic Updates and Modeling |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/06/17957688/malaysia-economic-monitor-harnessing-natural-resources http://hdl.handle.net/10986/16529 |
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okr-10986-16529 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
ADVANCED ECONOMIES AGRICULTURE ASSET PRICE ASSETS BANKING SECTOR BANKING SYSTEM BENCHMARK BENCHMARK INTEREST RATE BENEFIT ANALYSIS BILLS BONDS BUFFER BUFFERS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GOODS CAPITAL GOODS IMPORTS CAPITAL INFLOWS CAPITAL MARKETS CAPITAL OUTFLOWS CARBON CARBON EMISSIONS CENTRAL BANK CENTRAL BANKS CLIMATE CHANGE COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVENESS CONSOLIDATION CONSUMER DEMAND CONSUMER PRICE INDEX CONSUMER PRICE INFLATION CONSUMPTION EXPENDITURE CONSUMPTION GROWTH CORPORATE INCOME TAXES CPI CURRENCY CURRENCY ASSETS CURRENCY SWAPS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT SURPLUS DEBT DECLINE IN INFLATION DEFICITS DEFORESTATION DEPOSITS DEPRECIATION DEVELOPMENT ECONOMICS DIRECT INVESTMENTS DOMESTIC CONSUMPTION DOMESTIC CURRENCY DOMESTIC DEMAND DOMESTIC DEMAND GROWTH DRAG ON GROWTH DUTCH DISEASE ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC MODEL ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC RESEARCH ELECTRICITY GENERATION ENERGY CONSUMPTION ENERGY DEMAND ENVIRONMENTAL ENVIRONMENTAL CONSERVATION ENVIRONMENTAL MANAGEMENT EQUITY MARKET ERROR CORRECTION MODEL EXCESS CAPACITY EXCHANGE RATES EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORT VOLUMES EXPORTER EXPORTS EXTERNAL DEMAND EXTERNAL FACTORS EXTERNAL SHOCK EXTERNAL SHOCKS FEDERAL RESERVE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STABILITY FISCAL DEFICIT FISCAL POLICY FISCAL POSITION FISHING FIXED CAPITAL FOOD PRICES FORECASTS FOREIGN ASSETS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FORESTRY FREE TRADE FREE TRADE AREA GDP GLOBAL DEMAND GLOBAL ECONOMY GLOBAL LIQUIDITY GNP GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROSS NATIONAL INCOME GROSS NATIONAL PRODUCT GROWTH RATE GROWTH RATES HIGH-INCOME COUNTRIES HOLDINGS IMBALANCES IMPORT IMPORT DEMAND IMPORTS INCOME INCOME GROWTH INDUSTRIALIZATION INFLATION INFLATION RATE INFLATION RATES INTEREST RATE INTERNATIONAL FINANCE INTERNATIONAL RESERVES INTERNATIONAL SETTLEMENTS INTERNATIONAL TRADE INVENTORIES INVESTMENT BANKING INVESTMENT BOOM LABOR COSTS LABOR FORCE LABOR MARKET LABOR MARKETS LAND USE LIQUIDITY LIQUIDITY CONDITIONS LIQUIDITY MANAGEMENT LOOSE MONETARY POLICY LOSS OF COMPETITIVENESS LOW INTEREST RATES M3 MACROECONOMIC MANAGEMENT MACROECONOMIC STABILITY METALS MONETARY AUTHORITIES MONETARY POLICIES MONETARY POLICY MONETARY TRANSACTIONS NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCE NATURAL RESOURCES NET EXPORTS NOMINAL EXCHANGE RATE OIL OIL PRICES OIL REVENUES OIL SECTOR OPEC OPEN ECONOMY OUTPUT GAP PERMANENT INCOME PRICE CONTROLS PRIMARY COMMODITIES PRIVATE CONSUMPTION PRODUCERS PUBLIC INVESTMENT PUBLIC INVESTMENTS PURCHASING POWER PURCHASING POWER PARITY RE-EXPORTS REAL APPRECIATION REAL EFFECTIVE EXCHANGE RATE REAL EFFECTIVE EXCHANGE RATES REAL EXCHANGE RATE REAL GDP REAL GROSS DOMESTIC PRODUCT REAL WAGE GROWTH RECESSION RECYCLING REDUCING EMISSIONS RESOURCE MANAGEMENT REVENUE RECYCLING RISK AVERSION SECURITIES SHORT-TERM EXTERNAL DEBT SLOWDOWN SLOWDOWNS SPARE CAPACITY STRUCTURAL REFORM STRUCTURAL REFORMS SUPPLY SIDE SUPPLY-SIDE SURPLUS TAX TAX REVENUES TERMS OF TRADE TIMBER TOTAL EXPORTS TOTAL IMPORTS TRADE ACCOUNTS TRADE BALANCE TRADE GROWTH TRADE PATTERNS TRADING PARTNERS UNCERTAINTIES UNCERTAINTY UNEMPLOYMENT UNEMPLOYMENT RATE VALUATION WAGES WEALTH WORLD PRICES WORLD TRADE |
| spellingShingle |
ADVANCED ECONOMIES AGRICULTURE ASSET PRICE ASSETS BANKING SECTOR BANKING SYSTEM BENCHMARK BENCHMARK INTEREST RATE BENEFIT ANALYSIS BILLS BONDS BUFFER BUFFERS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GOODS CAPITAL GOODS IMPORTS CAPITAL INFLOWS CAPITAL MARKETS CAPITAL OUTFLOWS CARBON CARBON EMISSIONS CENTRAL BANK CENTRAL BANKS CLIMATE CHANGE COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVENESS CONSOLIDATION CONSUMER DEMAND CONSUMER PRICE INDEX CONSUMER PRICE INFLATION CONSUMPTION EXPENDITURE CONSUMPTION GROWTH CORPORATE INCOME TAXES CPI CURRENCY CURRENCY ASSETS CURRENCY SWAPS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT SURPLUS DEBT DECLINE IN INFLATION DEFICITS DEFORESTATION DEPOSITS DEPRECIATION DEVELOPMENT ECONOMICS DIRECT INVESTMENTS DOMESTIC CONSUMPTION DOMESTIC CURRENCY DOMESTIC DEMAND DOMESTIC DEMAND GROWTH DRAG ON GROWTH DUTCH DISEASE ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC MODEL ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC RESEARCH ELECTRICITY GENERATION ENERGY CONSUMPTION ENERGY DEMAND ENVIRONMENTAL ENVIRONMENTAL CONSERVATION ENVIRONMENTAL MANAGEMENT EQUITY MARKET ERROR CORRECTION MODEL EXCESS CAPACITY EXCHANGE RATES EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORT VOLUMES EXPORTER EXPORTS EXTERNAL DEMAND EXTERNAL FACTORS EXTERNAL SHOCK EXTERNAL SHOCKS FEDERAL RESERVE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STABILITY FISCAL DEFICIT FISCAL POLICY FISCAL POSITION FISHING FIXED CAPITAL FOOD PRICES FORECASTS FOREIGN ASSETS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FORESTRY FREE TRADE FREE TRADE AREA GDP GLOBAL DEMAND GLOBAL ECONOMY GLOBAL LIQUIDITY GNP GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROSS NATIONAL INCOME GROSS NATIONAL PRODUCT GROWTH RATE GROWTH RATES HIGH-INCOME COUNTRIES HOLDINGS IMBALANCES IMPORT IMPORT DEMAND IMPORTS INCOME INCOME GROWTH INDUSTRIALIZATION INFLATION INFLATION RATE INFLATION RATES INTEREST RATE INTERNATIONAL FINANCE INTERNATIONAL RESERVES INTERNATIONAL SETTLEMENTS INTERNATIONAL TRADE INVENTORIES INVESTMENT BANKING INVESTMENT BOOM LABOR COSTS LABOR FORCE LABOR MARKET LABOR MARKETS LAND USE LIQUIDITY LIQUIDITY CONDITIONS LIQUIDITY MANAGEMENT LOOSE MONETARY POLICY LOSS OF COMPETITIVENESS LOW INTEREST RATES M3 MACROECONOMIC MANAGEMENT MACROECONOMIC STABILITY METALS MONETARY AUTHORITIES MONETARY POLICIES MONETARY POLICY MONETARY TRANSACTIONS NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCE NATURAL RESOURCES NET EXPORTS NOMINAL EXCHANGE RATE OIL OIL PRICES OIL REVENUES OIL SECTOR OPEC OPEN ECONOMY OUTPUT GAP PERMANENT INCOME PRICE CONTROLS PRIMARY COMMODITIES PRIVATE CONSUMPTION PRODUCERS PUBLIC INVESTMENT PUBLIC INVESTMENTS PURCHASING POWER PURCHASING POWER PARITY RE-EXPORTS REAL APPRECIATION REAL EFFECTIVE EXCHANGE RATE REAL EFFECTIVE EXCHANGE RATES REAL EXCHANGE RATE REAL GDP REAL GROSS DOMESTIC PRODUCT REAL WAGE GROWTH RECESSION RECYCLING REDUCING EMISSIONS RESOURCE MANAGEMENT REVENUE RECYCLING RISK AVERSION SECURITIES SHORT-TERM EXTERNAL DEBT SLOWDOWN SLOWDOWNS SPARE CAPACITY STRUCTURAL REFORM STRUCTURAL REFORMS SUPPLY SIDE SUPPLY-SIDE SURPLUS TAX TAX REVENUES TERMS OF TRADE TIMBER TOTAL EXPORTS TOTAL IMPORTS TRADE ACCOUNTS TRADE BALANCE TRADE GROWTH TRADE PATTERNS TRADING PARTNERS UNCERTAINTIES UNCERTAINTY UNEMPLOYMENT UNEMPLOYMENT RATE VALUATION WAGES WEALTH WORLD PRICES WORLD TRADE World Bank Malaysia Economic Monitor, June 2013 : Harnessing Natural Resources |
| geographic_facet |
East Asia and Pacific Malaysia |
| description |
Following a strong performance in 2012,
Malaysia's economy hit a soft patch in the first
quarter of 2013. Economic growth has been supported by the
strong, broad-based performance of domestic consumption and
investment from public and private sources. The acceleration
of investment growth has been a key feature of the recent
growth trend. Public and private consumption has also
underpinned growth. Accommodative fiscal and monetary
policies have supported both higher (real) household incomes
and sustained credit growth, which along with firm labor
markets provided a solid backdrop for consumption growth
even as agricultural commodity prices declined. Despite
significant expenditure overruns, the government met its
fiscal deficit target for 2012. Supply-side factors kept
inflation subdued amidst robust domestic demand. Monetary
authorities emphasized macro-prudential regulation as the
policy interest rate continued to be pulled in two
directions. Malaysia is likely to continue posting solid
growth rates in 2013 and 2014. Growth in 2013 is projected
to come at 5.1 percent, supported by the strong momentum in
investment growth, still-accommodative fiscal and monetary
policies, higher household income due to tight labor
markets, and modest improvement in the export sector. The
sustainability of Malaysia's favorable near-term
prospects into 2015 and beyond continues to hinge on the
implementation of structural reforms. Having a rigorous
investigation of the effectiveness of various tax incentives
across different industries, and comparing the benefits with
the costs in foregone revenues, will provide important
lessons, to Malaysia and other countries, of the appropriate
role for fiscal incentives in horizontal diversification. |
| format |
Economic & Sector Work :: Economic Updates and Modeling |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Malaysia Economic Monitor, June 2013 : Harnessing Natural Resources |
| title_short |
Malaysia Economic Monitor, June 2013 : Harnessing Natural Resources |
| title_full |
Malaysia Economic Monitor, June 2013 : Harnessing Natural Resources |
| title_fullStr |
Malaysia Economic Monitor, June 2013 : Harnessing Natural Resources |
| title_full_unstemmed |
Malaysia Economic Monitor, June 2013 : Harnessing Natural Resources |
| title_sort |
malaysia economic monitor, june 2013 : harnessing natural resources |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2013/06/17957688/malaysia-economic-monitor-harnessing-natural-resources http://hdl.handle.net/10986/16529 |
| _version_ |
1764433936435380224 |
| spelling |
okr-10986-165292021-04-23T14:03:31Z Malaysia Economic Monitor, June 2013 : Harnessing Natural Resources World Bank ADVANCED ECONOMIES AGRICULTURE ASSET PRICE ASSETS BANKING SECTOR BANKING SYSTEM BENCHMARK BENCHMARK INTEREST RATE BENEFIT ANALYSIS BILLS BONDS BUFFER BUFFERS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GOODS CAPITAL GOODS IMPORTS CAPITAL INFLOWS CAPITAL MARKETS CAPITAL OUTFLOWS CARBON CARBON EMISSIONS CENTRAL BANK CENTRAL BANKS CLIMATE CHANGE COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVENESS CONSOLIDATION CONSUMER DEMAND CONSUMER PRICE INDEX CONSUMER PRICE INFLATION CONSUMPTION EXPENDITURE CONSUMPTION GROWTH CORPORATE INCOME TAXES CPI CURRENCY CURRENCY ASSETS CURRENCY SWAPS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT SURPLUS DEBT DECLINE IN INFLATION DEFICITS DEFORESTATION DEPOSITS DEPRECIATION DEVELOPMENT ECONOMICS DIRECT INVESTMENTS DOMESTIC CONSUMPTION DOMESTIC CURRENCY DOMESTIC DEMAND DOMESTIC DEMAND GROWTH DRAG ON GROWTH DUTCH DISEASE ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC MODEL ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC RESEARCH ELECTRICITY GENERATION ENERGY CONSUMPTION ENERGY DEMAND ENVIRONMENTAL ENVIRONMENTAL CONSERVATION ENVIRONMENTAL MANAGEMENT EQUITY MARKET ERROR CORRECTION MODEL EXCESS CAPACITY EXCHANGE RATES EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORT VOLUMES EXPORTER EXPORTS EXTERNAL DEMAND EXTERNAL FACTORS EXTERNAL SHOCK EXTERNAL SHOCKS FEDERAL RESERVE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STABILITY FISCAL DEFICIT FISCAL POLICY FISCAL POSITION FISHING FIXED CAPITAL FOOD PRICES FORECASTS FOREIGN ASSETS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FORESTRY FREE TRADE FREE TRADE AREA GDP GLOBAL DEMAND GLOBAL ECONOMY GLOBAL LIQUIDITY GNP GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROSS NATIONAL INCOME GROSS NATIONAL PRODUCT GROWTH RATE GROWTH RATES HIGH-INCOME COUNTRIES HOLDINGS IMBALANCES IMPORT IMPORT DEMAND IMPORTS INCOME INCOME GROWTH INDUSTRIALIZATION INFLATION INFLATION RATE INFLATION RATES INTEREST RATE INTERNATIONAL FINANCE INTERNATIONAL RESERVES INTERNATIONAL SETTLEMENTS INTERNATIONAL TRADE INVENTORIES INVESTMENT BANKING INVESTMENT BOOM LABOR COSTS LABOR FORCE LABOR MARKET LABOR MARKETS LAND USE LIQUIDITY LIQUIDITY CONDITIONS LIQUIDITY MANAGEMENT LOOSE MONETARY POLICY LOSS OF COMPETITIVENESS LOW INTEREST RATES M3 MACROECONOMIC MANAGEMENT MACROECONOMIC STABILITY METALS MONETARY AUTHORITIES MONETARY POLICIES MONETARY POLICY MONETARY TRANSACTIONS NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCE NATURAL RESOURCES NET EXPORTS NOMINAL EXCHANGE RATE OIL OIL PRICES OIL REVENUES OIL SECTOR OPEC OPEN ECONOMY OUTPUT GAP PERMANENT INCOME PRICE CONTROLS PRIMARY COMMODITIES PRIVATE CONSUMPTION PRODUCERS PUBLIC INVESTMENT PUBLIC INVESTMENTS PURCHASING POWER PURCHASING POWER PARITY RE-EXPORTS REAL APPRECIATION REAL EFFECTIVE EXCHANGE RATE REAL EFFECTIVE EXCHANGE RATES REAL EXCHANGE RATE REAL GDP REAL GROSS DOMESTIC PRODUCT REAL WAGE GROWTH RECESSION RECYCLING REDUCING EMISSIONS RESOURCE MANAGEMENT REVENUE RECYCLING RISK AVERSION SECURITIES SHORT-TERM EXTERNAL DEBT SLOWDOWN SLOWDOWNS SPARE CAPACITY STRUCTURAL REFORM STRUCTURAL REFORMS SUPPLY SIDE SUPPLY-SIDE SURPLUS TAX TAX REVENUES TERMS OF TRADE TIMBER TOTAL EXPORTS TOTAL IMPORTS TRADE ACCOUNTS TRADE BALANCE TRADE GROWTH TRADE PATTERNS TRADING PARTNERS UNCERTAINTIES UNCERTAINTY UNEMPLOYMENT UNEMPLOYMENT RATE VALUATION WAGES WEALTH WORLD PRICES WORLD TRADE Following a strong performance in 2012, Malaysia's economy hit a soft patch in the first quarter of 2013. Economic growth has been supported by the strong, broad-based performance of domestic consumption and investment from public and private sources. The acceleration of investment growth has been a key feature of the recent growth trend. Public and private consumption has also underpinned growth. Accommodative fiscal and monetary policies have supported both higher (real) household incomes and sustained credit growth, which along with firm labor markets provided a solid backdrop for consumption growth even as agricultural commodity prices declined. Despite significant expenditure overruns, the government met its fiscal deficit target for 2012. Supply-side factors kept inflation subdued amidst robust domestic demand. Monetary authorities emphasized macro-prudential regulation as the policy interest rate continued to be pulled in two directions. Malaysia is likely to continue posting solid growth rates in 2013 and 2014. Growth in 2013 is projected to come at 5.1 percent, supported by the strong momentum in investment growth, still-accommodative fiscal and monetary policies, higher household income due to tight labor markets, and modest improvement in the export sector. The sustainability of Malaysia's favorable near-term prospects into 2015 and beyond continues to hinge on the implementation of structural reforms. Having a rigorous investigation of the effectiveness of various tax incentives across different industries, and comparing the benefits with the costs in foregone revenues, will provide important lessons, to Malaysia and other countries, of the appropriate role for fiscal incentives in horizontal diversification. 2014-01-08T22:33:28Z 2014-01-08T22:33:28Z 2013-06 http://documents.worldbank.org/curated/en/2013/06/17957688/malaysia-economic-monitor-harnessing-natural-resources http://hdl.handle.net/10986/16529 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Malaysia |