The Economy: The Encyclopedia of Malaysia

This volume provides an in-depth insight into the dramatic transformation of Malaysia from an agrarian economy at Independence in 1957 into a diverse and thriving manufacturing- and servicebased economy in 2006. The volume begins with an overview of Malaysia’s economic history, covering the evolution of economic policies from post-Independence to 1970, the formulation of the seminal New Economic Policy (1.971-90), the balanced growth thrusts of the 1990s and finally the shift towards a knowledge-based economy in the 21st century. An extensive analysis of the various sectors of the economy follows. The rapid growth and modernization of the Malaysian economy is documented, beginning with the natural resources and agricultural sectors and moving into the manufacturing sector. The services and financial sectors are then explored, focusing on the development of key sub-sectors. The volume proceeds with a discussion of the infrastructure which supports Malaysia’s economy, and the stable social framework that sustains its human resources. The volume concludes by examining the macroeconomic policies implemented by various governmental bodies and agencies, and Malaysia’s position in the rapidly globalizing world economy.