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Malaysia’s Vision 2020 and the Role of leadership in Economic Development

Author

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  • Mahmoud Safy Mahmoud
  • Hoda Mitkees

Abstract

Malaysia has adopted several developmental plans since 1969 starting with the New Economic Policy (NEP), passing by the National Development Plan (NDP) and ending with the Vision 2020 adopted in 1991 under the rule of Mahathir Mohammed (1981-2003), whereby Malaysia has aimed to become a developed country by 2020. Looking for the future, Malaysia 2020 should build upon the older developmental plans; however there are some new elements that need to be considered if Malaysia is to continue on its successful developmental path. This paper aims at focusing on the issues that still need to be considered in Vision 2020 from an outsider point of view. This paper addresses the questions of what Malaysia’s economic plans adopted in the past which were able to achieve high economic growth rates while preserving at the same time the social aspects. And the paper focuses on trade policy in Malaysia under Mahathir rule, identifying how was it shaped and how likely it will continue in 2020. The paper identifies the challenges likely to be faced by Malaysia in the coming period and how such issues should be tackled in Vision 2020.

Suggested Citation

  • Mahmoud Safy Mahmoud & Hoda Mitkees, 2017. "Malaysia’s Vision 2020 and the Role of leadership in Economic Development," Asian Social Science, Canadian Center of Science and Education, vol. 13(8), pages 1-49, August.
    • Handle: RePEc:ibn:assjnl:v:13:y:2017:i:8:p:49
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    References listed on IDEAS

    as
    1. Ethan Kaplan & Dani Rodrik, 2002. "Did the Malaysian Capital Controls Work?," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 393-440, National Bureau of Economic Research, Inc.
    2. Simon Johnson & Kalpana Kochhar & Todd Mitton & Natalia Tamirisa, 2007. "Malaysian Capital Controls: Macroeconomics and Institutions," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 529-574, National Bureau of Economic Research, Inc.
    3. Mr. Mahmood Hasan Khan, 2002. "When is Economic Growth Pro-Poor? Experiences in Malaysia and Pakistan," IMF Working Papers 2002/085, International Monetary Fund.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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