OECD Economics Department Working Papers

ISSN: 
1815-1973 (online)
http://dx.doi.org/10.1787/18151973
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Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.

The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.

 

Malaysia’s economic success story and challenges You or your institution have access to this content

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Author(s):
Vincent Koen1, Hidekatsu Asada1, Stewart Nixon1, Mohamed Rizwan Habeeb Rahuman1, Mohd Arif, A.Z.1
Author Affiliations
  • 1: OECD, France

31 Jan 2017
Bibliographic information
No.:
1369
Pages:
52
http://dx.doi.org/10.1787/cf7fddf2-en

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Malaysia has sustained over four decades of rapid, inclusive growth, reducing its dependence on agriculture and commodity exports to become a more diversified, modern and open economy. GDP per capita is now higher than in a number of OECD economies, while poverty and income inequality have declined considerably. Growth has also been remarkably resilient in the face of external shocks. Going forward, the Malaysian government's 11th Malaysia Plan (2016-20) emphasises the need for greater inclusiveness. Continued, gradual fiscal consolidation is a key policy priority, building on earlier energy and food subsidy rationalisation and on the introduction of a goods and services tax. So is continued prudent monetary and financial policy. Further reforms are needed for Malaysia to become a high-income nation around 2020: productivity growth needs to be reinvigorated through various structural reforms while growth needs to become more inclusive.
Keywords:
fiscal consolidation, productivity, competition, education, ASEAN, employment, commoditities, monetary policy
JEL Classification:
  • E20: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy / General
  • E50: Macroeconomics and Monetary Economics / Monetary Policy, Central Banking, and the Supply of Money and Credit / General
  • F1: International Economics / Trade
  • G15: Financial Economics / General Financial Markets / International Financial Markets
  • G3: Financial Economics / Corporate Finance and Governance
  • H11: Public Economics / Structure and Scope of Government / Structure, Scope, and Performance of Government
  • H20: Public Economics / Taxation, Subsidies, and Revenue / General
  • H30: Public Economics / Fiscal Policies and Behavior of Economic Agents / General
  • H50: Public Economics / National Government Expenditures and Related Policies / General
  • H60: Public Economics / National Budget, Deficit, and Debt / General
  • I0: Health, Education, and Welfare / General
  • O1: Economic Development, Innovation, Technological Change, and Growth / Economic Development
  • O40: Economic Development, Innovation, Technological Change, and Growth / Economic Growth and Aggregate Productivity / General
  • P48: Economic Systems / Other Economic Systems / Political Economy ; Legal Institutions ; Property Rights ; Natural Resources ; Energy ; Environment ; Regional Studies
 
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