As Malaysia's government responded to the 1997-98 financial crisis, the global financial community criticised its measures as bail outs for politically-influential corporate interests. This book examines the Asian crisis and government policy responses, with emphasis on capital controls as well as corporate, bank and debt restructuring exercises.
As Malaysia's government responded to the 1997-98 financial crisis, the global financial community criticised its measures as bail outs for politically-influential corporate interests. This book examines the Asian crisis and government policy responses, with emphasis on capital controls as well as corporate, bank and debt restructuring exercises.
This book attempts to understand economic developments in Malaysia in the early and mid-Eighties, focusing on growth, balance of payments, fiscal and debt trends. They are all seen against global trends, earlier developments in the Malaysian economy and other changes in Malaysian society.
In this endnote address delivered at the 11th General Assembly of CODESRIA, held in Maputo in 2005, Sundaram notes that over three decades of economic stagnation, contraction and increased poverty have taken a huge toll on Africa's economic, social and political fabric; and pro-active efforts are urgently required in order to build new capacities and capabilities for development. He argues that much of the ostensible conventional wisdom regarding African development and poverty is often both erroneous and harmful; and calls for greater 'policy space' for African governments to choose or design their own development strategies, as well as implement more appropriate development policies. (This dual language edition is in both English and French).
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.
The role of ethnic Chinese business in Southeast Asia in catalyzing economic development has been hotly debated - and often misunderstood - throughout cycles of boom and bust. This book critically examines some of the key features attributed to Chinese business: business-government relations, the family firm, trust and networks, and supposed 'Asian' values. The in-depth case studies that feature in the book reveal considerable diversity among these firms and the economic and political networks in which they manoeuvre. With contributions from leading scholars and under the impressive editorship of Jomo and Folk, Ethnic Business is a well-written, important contribution to not only students of Asian business and economics, but also professionals with an interest in those areas.
In this first critical, multidisciplinary assessment of recent privatization in a developing country, the contributors offer valuable lessons for the comparative study of denationalization and related public policy options. After an introductory survey, the volume presents broad perspectives on the context, formulation, and adjustment of privatization policy in Malaysia. The contributors review the distributional implications of specific privatizations for the public interest as well as for consumer and employee welfare. The book concludes with an examination of the economic, political, and cultural impacts of the privatization of physical infrastructure, telecommunications, and television programming.
This volume, and its companion, Industrial Technology Development in Malaysia, examine and evaluate Malaysian industrialization in terms of its experience of and prospects for industrial technology development. The focus is on role played by state-sponsored innovation in the process economic development and in the context of national development strategies. Technology, Competitiveness and the State, provides a valuable analysis of the technological development of a Newly Industrializing Country and reflects on whether existing development strategies can be maintained in the wake of the financial crises sweeping the East Asian economies.
This is the first book to look at labor in Malaysian services, and also the first to use the labor market segmentation approach to study Malaysian labor. As in most other countries, the services sector has long accounted for more of the labor force than manufacturing in Malaysia. Studies of those working in services in developing countries have tended to focus on the public sector and, in recent decades, the informal sector. This study of workers in services also covers those in private enterprises, both modern (e.g. financial services) and traditional (e.g. transportation services). This study also looks more generally at Malaysian labor market segmentation, especially at ethnicity and gender. Of particular importance are the impact of structural change in the economy and the interaction between these processes and the labor market on job and pay opportunities.
This 1997 book is an insightful and accessible analysis of contemporary Malaysian business and politics. Using the concepts of rent and rent-seeking as tools to study the Malaysian political economy, the authors explore how political patronage influences the accumulation and concentration of wealth. The book considers the impact of party politics and economic development on the relationship between politics and business in Malaysia, and provides discussions of government-led change in Malaysia's business community, including the emergence of a Malay business class. In this revised edition, the authors examine how the 1997 Asian currency, liquidity and financial crises have impacted on Malaysia's economy. Their discussion canvasses various economic policy responses, including capital control measures, as well the ensuing economic recession and political turmoil.
In this endnote address delivered at the 11th General Assembly of CODESRIA, held in Maputo in 2005, Sundaram notes that over three decades of economic stagnation, contraction and increased poverty have taken a huge toll on Africa's economic, social and political fabric; and pro-active efforts are urgently required in order to build new capacities and capabilities for development. He argues that much of the ostensible conventional wisdom regarding African development and poverty is often both erroneous and harmful; and calls for greater 'policy space' for African governments to choose or design their own development strategies, as well as implement more appropriate development policies. (This dual language edition is in both English and French).
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.
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