Chapter

Competitive Industrialization with Natural Resource Abundance: Malaysia

Mahani. Zainal Abidin

in Resource Abundance and Economic Development

Published in print October 2004 | ISBN: 9780199275786
Published online April 2005 | e-ISBN: 9780191602160 | DOI: http://dx.doi.org/10.1093/0199275785.003.0009

Series: WIDER Studies in Development Economics

Competitive Industrialization with Natural Resource Abundance: Malaysia

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This chapter examines the main differences between the development of Malaysia and that of other small resource-abundant countries that did not achieve competitive industrialisation. It discusses the high growth of Malaysian investment, public sector contribution to total investment, Malaysia’s open trade regime, industrial policy that fostered competitive industrialisation, and the accumulation of human capital. It reviews Malaysia’s capacity to manage external and internal shocks without experiencing a growth collapse.

Keywords: Malaysia; economic development; competitive industrialisation; natural-resource abundance; external shock; internal shock

Chapter.  6790 words.  Illustrated.

Subjects: Economic Development and Growth

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