Malaysia : Growth, Equity, and Structural Transformation Book

More than three decades of social and economic progress in Malaysia are examined in this fact-filled study. The analysis recounts the country?s initial development strategy, which focused on rural development, human resources, and the infrastructure. A mid-development phase is described, in which the state attempted to modernize commerce and industry by strictly controlling private enterprise and commercial banking and by creating state-owned enterprises to spur investment. The adjustment program Malaysia adopted in response to the disappointing results of too much state control is evaluated. This program included policies that relaxed licensing requirements for industry and introduced new investment incentives to encourage private enterprise. An analysis of Malaysia?s government explains how this multi-ethnic country could engineer such fundamental changes successfully.