Economic Growth and Development in Malaysia : Policy Making and Leadership
Malaysia is a multiethnic, upper-middle-income country that has relied heavily on income from its natural resources to engineer successful diversification into manufacturing and sharply increased incomes for all ethnic groups. This paper examines t...
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| Format: | Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/183111468050085348/Economic-growth-and-development-in-Malaysia-policy-making-and-leadership http://hdl.handle.net/10986/28046 |
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okr-10986-28046 |
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oai_dc |
| repository_type |
Digital Repository |
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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 |
ABUSES ACCOUNTING AGRICULTURAL OUTPUT AGRICULTURE ASSETS BIDDING BINDING CONSTRAINT BINDING CONSTRAINTS BONDS BUSINESS APPLICATION BUSINESS APPLICATIONS CAPITAL FORMATION CAPITAL MARKETS CITIZENSHIP CLIMATE CHANGE COAL COMMERCIAL BANKING COMMODITIES COMMODITY COMMODITY EXPORT COMMODITY PRICES COMMUNICATIONS TECHNOLOGY COMPARATIVE ADVANTAGE CONDOMS CONFIDENTIALITY CORPORATE OWNERSHIP CORRUPTION CRIMES CRONYISM CURRENT POPULATION DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPMENT PLANS DEVELOPMENT POLICIES DEVELOPMENT POLICY DEVELOPMENT PROJECTS DEVELOPMENT STRATEGY DIGITAL SIGNATURE DISADVANTAGED GROUPS DIVESTMENT DOMESTIC ECONOMY ECONOMIC CHANGES ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC POLICY REFORM ENGINEERING GOODS ETHNIC GROUPS EXPORT GROWTH EXPORT MARKET EXPORT PROCESSING ZONES EXPORTS FAMILY MEMBERS FEDERAL GOVERNMENT FERTILITY FERTILITY LEVELS FINANCIAL CRISIS FISCAL POLICIES FOOD PRICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN GOVERNMENTS FOREIGN INVESTORS FORESTRY FREE TRADE FUTURE GROWTH GDP GLOBALIZATION GOOD GOVERNANCE GOVERNMENT BUDGET GOVERNMENT GUARANTEES GOVERNMENT PROGRAMS GOVERNMENT SECURITY GROSS NATIONAL INCOME IMMIGRANT IMMUNITY IMPORTANT POLICY INCOME INCOME TAX INCOMES INDIGENOUS GROUPS INDUSTRIAL DEVELOPMENT INDUSTRIALIZATION INITIATIVE INTERNATIONAL COMPETITION INTERNATIONAL ECONOMY INTERNATIONAL TRADE JOB CREATION JOINT VENTURE JUDICIAL SYSTEM JUDICIARY JURISDICTION LABOR COSTS LABOR FORCE LAWS LEADERSHIP LEGAL STATUS MANUFACTURING INDUSTRIES METALS MINISTER MINISTERS MOBILE PHONES MODERNIZATION MONOPOLIES MULTINATIONAL MULTINATIONAL CORPORATIONS NATIONAL COUNCIL NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL OUTPUT NATIONAL POLICY NATURAL RESOURCES NDP OIL OUTSOURCING PARLIAMENTARY SEATS PATRONAGE POLICE POLICY CHANGE POLICY INSTRUMENTS POLICY LEVEL POLICY MAKERS POLITICAL ECONOMY POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL PARTY POLITICAL SYSTEM POLITICIANS POPULATION GROWTH PRACTITIONERS PRICE INCREASES PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE MARKET PRIVATIZATION PROCUREMENT PRODUCERS PRODUCTION COSTS PROGRESS PURCHASING POWER PURCHASING POWER PARITY RACE RELATIONS RADIO RAPID GROWTH RAPID INDUSTRIALIZATION RATE OF GROWTH REGULATORY ENVIRONMENT REGULATORY FRAMEWORK RESPECT RULE OF LAW RURAL AREAS SAVINGS SENSITIVE ISSUES SIGNIFICANT POLICY SMALLHOLDERS SMART CARDS SOCIAL POLICIES STATE GOVERNMENT STATE GOVERNMENTS STATE POLICIES STRUCTURAL CHANGE SUPPLY SHORTAGES TAX TAX CREDITS TAX REVENUES TECHNOLOGY TRANSFERS TELECOMMUNICATIONS TERMS OF TRADE TERRORIST TOTAL COSTS TOTAL OUTPUT TRADITIONAL VALUES TRAINING CENTERS TRANSPORTATION URBAN AREAS URBANIZATION VALUATION VALUE ADDED VALUE ADDED VALUEADDED VOLATILITY VOTERS WAR WEALTH |
| spellingShingle |
ABUSES ACCOUNTING AGRICULTURAL OUTPUT AGRICULTURE ASSETS BIDDING BINDING CONSTRAINT BINDING CONSTRAINTS BONDS BUSINESS APPLICATION BUSINESS APPLICATIONS CAPITAL FORMATION CAPITAL MARKETS CITIZENSHIP CLIMATE CHANGE COAL COMMERCIAL BANKING COMMODITIES COMMODITY COMMODITY EXPORT COMMODITY PRICES COMMUNICATIONS TECHNOLOGY COMPARATIVE ADVANTAGE CONDOMS CONFIDENTIALITY CORPORATE OWNERSHIP CORRUPTION CRIMES CRONYISM CURRENT POPULATION DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPMENT PLANS DEVELOPMENT POLICIES DEVELOPMENT POLICY DEVELOPMENT PROJECTS DEVELOPMENT STRATEGY DIGITAL SIGNATURE DISADVANTAGED GROUPS DIVESTMENT DOMESTIC ECONOMY ECONOMIC CHANGES ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC POLICY REFORM ENGINEERING GOODS ETHNIC GROUPS EXPORT GROWTH EXPORT MARKET EXPORT PROCESSING ZONES EXPORTS FAMILY MEMBERS FEDERAL GOVERNMENT FERTILITY FERTILITY LEVELS FINANCIAL CRISIS FISCAL POLICIES FOOD PRICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN GOVERNMENTS FOREIGN INVESTORS FORESTRY FREE TRADE FUTURE GROWTH GDP GLOBALIZATION GOOD GOVERNANCE GOVERNMENT BUDGET GOVERNMENT GUARANTEES GOVERNMENT PROGRAMS GOVERNMENT SECURITY GROSS NATIONAL INCOME IMMIGRANT IMMUNITY IMPORTANT POLICY INCOME INCOME TAX INCOMES INDIGENOUS GROUPS INDUSTRIAL DEVELOPMENT INDUSTRIALIZATION INITIATIVE INTERNATIONAL COMPETITION INTERNATIONAL ECONOMY INTERNATIONAL TRADE JOB CREATION JOINT VENTURE JUDICIAL SYSTEM JUDICIARY JURISDICTION LABOR COSTS LABOR FORCE LAWS LEADERSHIP LEGAL STATUS MANUFACTURING INDUSTRIES METALS MINISTER MINISTERS MOBILE PHONES MODERNIZATION MONOPOLIES MULTINATIONAL MULTINATIONAL CORPORATIONS NATIONAL COUNCIL NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL OUTPUT NATIONAL POLICY NATURAL RESOURCES NDP OIL OUTSOURCING PARLIAMENTARY SEATS PATRONAGE POLICE POLICY CHANGE POLICY INSTRUMENTS POLICY LEVEL POLICY MAKERS POLITICAL ECONOMY POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL PARTY POLITICAL SYSTEM POLITICIANS POPULATION GROWTH PRACTITIONERS PRICE INCREASES PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE MARKET PRIVATIZATION PROCUREMENT PRODUCERS PRODUCTION COSTS PROGRESS PURCHASING POWER PURCHASING POWER PARITY RACE RELATIONS RADIO RAPID GROWTH RAPID INDUSTRIALIZATION RATE OF GROWTH REGULATORY ENVIRONMENT REGULATORY FRAMEWORK RESPECT RULE OF LAW RURAL AREAS SAVINGS SENSITIVE ISSUES SIGNIFICANT POLICY SMALLHOLDERS SMART CARDS SOCIAL POLICIES STATE GOVERNMENT STATE GOVERNMENTS STATE POLICIES STRUCTURAL CHANGE SUPPLY SHORTAGES TAX TAX CREDITS TAX REVENUES TECHNOLOGY TRANSFERS TELECOMMUNICATIONS TERMS OF TRADE TERRORIST TOTAL COSTS TOTAL OUTPUT TRADITIONAL VALUES TRAINING CENTERS TRANSPORTATION URBAN AREAS URBANIZATION VALUATION VALUE ADDED VALUE ADDED VALUEADDED VOLATILITY VOTERS WAR WEALTH Aznam Yusof, Zainal Bhattasali, Deepak Economic Growth and Development in Malaysia : Policy Making and Leadership |
| geographic_facet |
East Asia and Pacific Malaysia |
| relation |
Commission on Growth and Development Working Paper;No. 27 |
| description |
Malaysia is a multiethnic,
upper-middle-income country that has relied heavily on
income from its natural resources to engineer successful
diversification into manufacturing and sharply increased
incomes for all ethnic groups. This paper examines the role
of the policy-making process and national leadership in
effecting this structural change and growth with equity. It
discusses the government's role in transforming
corporate ownership patterns while nurturing industrial
enterprises into niche products within complex value-added
chains. At the same time, the paper underscores the
difficulties and costs of attempting to move into areas
where an economy has no strong advantages, in this case
heavy industries. Privatization is seen to have been a
powerful tool for expanding private enterprise despite
limited entrepreneurial skills, but it is questionable as a
sustainable strategy; the aggressive formation of new firms
seems to offer better long-term prospects. An appropriate
regime of policy making and implementation is required,
characterized by political determination, stability, high
attention to growth with equity, experimentation, and an
ability to learn through implementation, both at home and
from the experience of others. These are key factors
accounting for the relative success of Malaysia. Nothing in
the Malaysian experience suggests that it is possible or
desirable to undertake reforms serially; in fact, the
evidence suggests that the "reform cluster"
approach to policy implementation is more effective because
it addresses several coordination problems at the same time. |
| format |
Working Paper |
| author |
Aznam Yusof, Zainal Bhattasali, Deepak |
| author_facet |
Aznam Yusof, Zainal Bhattasali, Deepak |
| author_sort |
Aznam Yusof, Zainal |
| title |
Economic Growth and Development in Malaysia : Policy Making and Leadership |
| title_short |
Economic Growth and Development in Malaysia : Policy Making and Leadership |
| title_full |
Economic Growth and Development in Malaysia : Policy Making and Leadership |
| title_fullStr |
Economic Growth and Development in Malaysia : Policy Making and Leadership |
| title_full_unstemmed |
Economic Growth and Development in Malaysia : Policy Making and Leadership |
| title_sort |
economic growth and development in malaysia : policy making and leadership |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/183111468050085348/Economic-growth-and-development-in-Malaysia-policy-making-and-leadership http://hdl.handle.net/10986/28046 |
| _version_ |
1764466025934356480 |
| spelling |
okr-10986-280462021-04-23T14:04:46Z Economic Growth and Development in Malaysia : Policy Making and Leadership Aznam Yusof, Zainal Bhattasali, Deepak ABUSES ACCOUNTING AGRICULTURAL OUTPUT AGRICULTURE ASSETS BIDDING BINDING CONSTRAINT BINDING CONSTRAINTS BONDS BUSINESS APPLICATION BUSINESS APPLICATIONS CAPITAL FORMATION CAPITAL MARKETS CITIZENSHIP CLIMATE CHANGE COAL COMMERCIAL BANKING COMMODITIES COMMODITY COMMODITY EXPORT COMMODITY PRICES COMMUNICATIONS TECHNOLOGY COMPARATIVE ADVANTAGE CONDOMS CONFIDENTIALITY CORPORATE OWNERSHIP CORRUPTION CRIMES CRONYISM CURRENT POPULATION DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPMENT PLANS DEVELOPMENT POLICIES DEVELOPMENT POLICY DEVELOPMENT PROJECTS DEVELOPMENT STRATEGY DIGITAL SIGNATURE DISADVANTAGED GROUPS DIVESTMENT DOMESTIC ECONOMY ECONOMIC CHANGES ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC POLICY REFORM ENGINEERING GOODS ETHNIC GROUPS EXPORT GROWTH EXPORT MARKET EXPORT PROCESSING ZONES EXPORTS FAMILY MEMBERS FEDERAL GOVERNMENT FERTILITY FERTILITY LEVELS FINANCIAL CRISIS FISCAL POLICIES FOOD PRICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN GOVERNMENTS FOREIGN INVESTORS FORESTRY FREE TRADE FUTURE GROWTH GDP GLOBALIZATION GOOD GOVERNANCE GOVERNMENT BUDGET GOVERNMENT GUARANTEES GOVERNMENT PROGRAMS GOVERNMENT SECURITY GROSS NATIONAL INCOME IMMIGRANT IMMUNITY IMPORTANT POLICY INCOME INCOME TAX INCOMES INDIGENOUS GROUPS INDUSTRIAL DEVELOPMENT INDUSTRIALIZATION INITIATIVE INTERNATIONAL COMPETITION INTERNATIONAL ECONOMY INTERNATIONAL TRADE JOB CREATION JOINT VENTURE JUDICIAL SYSTEM JUDICIARY JURISDICTION LABOR COSTS LABOR FORCE LAWS LEADERSHIP LEGAL STATUS MANUFACTURING INDUSTRIES METALS MINISTER MINISTERS MOBILE PHONES MODERNIZATION MONOPOLIES MULTINATIONAL MULTINATIONAL CORPORATIONS NATIONAL COUNCIL NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL OUTPUT NATIONAL POLICY NATURAL RESOURCES NDP OIL OUTSOURCING PARLIAMENTARY SEATS PATRONAGE POLICE POLICY CHANGE POLICY INSTRUMENTS POLICY LEVEL POLICY MAKERS POLITICAL ECONOMY POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL PARTY POLITICAL SYSTEM POLITICIANS POPULATION GROWTH PRACTITIONERS PRICE INCREASES PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE MARKET PRIVATIZATION PROCUREMENT PRODUCERS PRODUCTION COSTS PROGRESS PURCHASING POWER PURCHASING POWER PARITY RACE RELATIONS RADIO RAPID GROWTH RAPID INDUSTRIALIZATION RATE OF GROWTH REGULATORY ENVIRONMENT REGULATORY FRAMEWORK RESPECT RULE OF LAW RURAL AREAS SAVINGS SENSITIVE ISSUES SIGNIFICANT POLICY SMALLHOLDERS SMART CARDS SOCIAL POLICIES STATE GOVERNMENT STATE GOVERNMENTS STATE POLICIES STRUCTURAL CHANGE SUPPLY SHORTAGES TAX TAX CREDITS TAX REVENUES TECHNOLOGY TRANSFERS TELECOMMUNICATIONS TERMS OF TRADE TERRORIST TOTAL COSTS TOTAL OUTPUT TRADITIONAL VALUES TRAINING CENTERS TRANSPORTATION URBAN AREAS URBANIZATION VALUATION VALUE ADDED VALUE ADDED VALUEADDED VOLATILITY VOTERS WAR WEALTH Malaysia is a multiethnic, upper-middle-income country that has relied heavily on income from its natural resources to engineer successful diversification into manufacturing and sharply increased incomes for all ethnic groups. This paper examines the role of the policy-making process and national leadership in effecting this structural change and growth with equity. It discusses the government's role in transforming corporate ownership patterns while nurturing industrial enterprises into niche products within complex value-added chains. At the same time, the paper underscores the difficulties and costs of attempting to move into areas where an economy has no strong advantages, in this case heavy industries. Privatization is seen to have been a powerful tool for expanding private enterprise despite limited entrepreneurial skills, but it is questionable as a sustainable strategy; the aggressive formation of new firms seems to offer better long-term prospects. An appropriate regime of policy making and implementation is required, characterized by political determination, stability, high attention to growth with equity, experimentation, and an ability to learn through implementation, both at home and from the experience of others. These are key factors accounting for the relative success of Malaysia. Nothing in the Malaysian experience suggests that it is possible or desirable to undertake reforms serially; in fact, the evidence suggests that the "reform cluster" approach to policy implementation is more effective because it addresses several coordination problems at the same time. 2017-08-28T21:04:57Z 2017-08-28T21:04:57Z 2008 Working Paper http://documents.worldbank.org/curated/en/183111468050085348/Economic-growth-and-development-in-Malaysia-policy-making-and-leadership http://hdl.handle.net/10986/28046 English en_US Commission on Growth and Development Working Paper;No. 27 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research East Asia and Pacific Malaysia |