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    Is the Lustre Coming off Malaysia’s Shine? Malaysia’s Recent Economic Performance and Prospects for Future Growth

    Lean, Hooi Hooi; Smyth, Russell | June 2016
    Abstract
    This paper reviews the recent economic situation in Malaysia and examines the prospects for future economic growth. The Malaysian economy continues to perform well, although there are risks and uncertainties. There is evidence that economic growth has started to slow recently in response to the falling oil price and low investor confidence. The Ringgit appreciated against the U.S. dollar through to mid-2014, but has subsequently depreciated. The budget deficit has declined in recent years, reflecting fiscal reform and the introduction of the Good and Service Tax (GST). While we express concern about the risks associated with declining commodity prices and uncertainties over capital flows, we conclude that the prospects for continued economic growth in Malaysia are relatively good. In the short-term cheaper crude oil price imports and major public infrastructure investment projects will spur growth. In the longer-term, we emphasize the role of investment in education in moving up the value-added chain into higher value added manufacturing. We also stress that the government must play a key role in restoring investor confidence and reducing ethnic and religion tension, if Malaysia is continue to exhibit strong growth in the longer term.
    Citation
    Lean, Hooi Hooi; Smyth, Russell. 2016. Is the Lustre Coming off Malaysia’s Shine? Malaysia’s Recent Economic Performance and Prospects for Future Growth. © S. Rajaratnam School of International Studies. http://hdl.handle.net/11540/9267.
    Keywords
    Development Economics
    Regional Economic Development
    Economic Impact
    Asian Development Bank
    Development
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Economies in transition
    Economic agreements
    Development indicators
    ADB
    Economic development
    Gross domestic product
    Employment
    Economic forecast
    Economic indicators
    Growth models
    Gross domestic product
    Macroeconomics
    Economic forecast
    Social condition
    Economic dependence
    Economic assistance
    Comparative economics
    Regional economics
    Economic development projects
    Open price system
    Price fixing
    Price regulation
    Consumer price indexes
    Financial crisis
    Labor economics
    Regional economics
    Turnover
    Economic survey
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/9267
    Metadata
    Show full item record
    Thumbnail
    Malaysia-RSIS2016-edited1.pdf (764.9Kb)
    Author
    Lean, Hooi Hooi
    Smyth, Russell
    Theme
    Economics
    Development

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise