Download: Fast, Fun, Awesome
study in australia
student information in australia
Australian University graduate information
professional networking for australian university students
employment links for australian university students
University quizzes for australian students

How Malaysia’s tiger economy lost its growl

Professor Hal Hill examines what Malaysia can do to kick-start its economy. There is much to admire about Malaysia, in addition to it being arguably the world’s best place to eat. Its development record is admirable. Since Independence in 1957, its per capita income has risen eight-fold.

It has long since left behind its two earlier comparators, Ghana and Sri Lanka. It features prominently and positively in all major international economic comparisons, from the World Bank’s 1993 East Asian Miracle to the 2008 Growth Commission report.

The 2.5 to 3 million migrant workers are there for a good reason – even if they are sometimes subject to abuse, life is a lot better than in their homelands.

As a result of the country’s adept macroeconomic management, it has suffered just one serious economic setback, in 1997-98. That event had its origins at least partly in external factors, and it was promptly overcome, without the ‘assistance’ of the IMF.

The country has managed to avoid the ‘resource curse’, which has bedevilled the majority of resource-rich developing countries. It features well on most comparative rankings, such as the Bank’s Doing Business, and the Global Competitiveness Report.

Along with Singapore, it has enjoyed an early mover advantage from its adoption in the early 1970s of export-oriented industrialisation through foreign direct investment, before it was fashionable to do so.

As a consequence, it is a major player in the global electronics industry. And although inequality remains high, there is no doubt that the bottom 40 per cent of Malaysian citizens have benefitted materially from the country’s economic growth. What’s the economic problem, then? Principally, that the economy has yet to regain the dynamism evident before the 1997-98 Asian financial crisis.

Leave a reply

Feature Research
Controlling fear by modifying DNA

For many people, fear of flying or of spiders skittering across the lounge room floor is more than just a [more]

Kidney disease gene controls cancer highway

University of Queensland researchers have discovered that a gene that causes kidney disease also controls growth of the lymphatic system, [more]

Queensland fraud is a billion dollar business

Queensland businesses could be losing over $12 billion per annum as a result of company fraud according to a recent study [more]

Inside the mind of a burglar

Burglars are opportunistic, generally choose their targets at random and know all the tricks householders try to use as deterrents, [more]

Flight experiment goes boldly forth to advance new technology

A hypersonic flight experiment at eight times the speed of sound, led by a University of Queensland PhD student, has [more]

Pre-drinking alcohol before hitting the nightclubs likely to lead to violence

The increasingly common practice of drinking at home before hitting the nightclubs is the major predictor of people experiencing harm [more]

Research reveals women are more interested in a man’s earning capacity than the size of his wallet

Despite ABBA’s insistence that women long for “money, money, money”, research has found that The Beatles were on the [more]

Challenges still face women seeking seniority in business

Research conducted by the UTS Centre for Corporate Governance underpinning the 2012 Australian Census of Women in Leadership reveals a decade [more]

Swiss Army Knife teeth secret to seal’s success

Biologists have shown how an advanced set of teeth give Antarctic leopard seals the biological tools to feast on prey [more]

Beautiful physics: Tying knots in light

New research published today seeks to push the discovery that light can be tied in knots to the next level. [more]