GROWTH, POLICYMAKING, TRADE AND ECONOMIC DEVELOPMENT IN MALAYSIA

For the period between 1957 and 1997, Malaysia’s development is analysed to determine the roles of inputs, planning, trade and government intervention in economic activity. Foreign investment is also analysed. During this period, by international standards, growth that Malaysia experienced was impressive. This growth was achieved through a policy framework that used government planning and investment in conjunction with incentives for the private sector. A unique feature of Malaysia’s planning was its call for social justice to advance the economic interest of its less economically privileged population. By adopting amalgam of development strategies and policies, policymakers were successful in improving the socio-economic status of the majority of the Malaysian population.