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Macroeconomic Perspectives of the Malaysian Economy

In: Alternative Perspectives in Third-World Development

Author

Listed:
  • M. Zainudin Saleh

Abstract

The high growth achieved by Malaysia in the 1970s continued into the early 1980s. The recovery from recession in the mid-1980s had led the country out of its worst growth period since Independence. The main impetus came from rapid expansion of the export-oriented industrial sector and strong manufactured exports. Along with growth and low inflation, national consumption and investment increased and the current account of the balance of payments recorded a surplus. Private investment expanded rapidly in industrial activities, notably in manufacturing, construction, petroleum exploration and production as well as export-oriented industries. The development policy is to strengthen further the internal resilience and competitiveness. Policies and strategies to sustain the momentum of rapid growth would continue to be implemented to meet the country’s objective of growth with equity in line with the national aspiration of a caring industrialised society.

Suggested Citation

  • M. Zainudin Saleh, 1996. "Macroeconomic Perspectives of the Malaysian Economy," Palgrave Macmillan Books, in: Masudul Alam Choudhury & Uzir Abdul Malik & Mohammad Anuar Adnan (ed.), Alternative Perspectives in Third-World Development, chapter 3, pages 29-55, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24853-7_3
    DOI: 10.1007/978-1-349-24853-7_3
    as

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