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2016 OECD Economic Surveys: Malaysia 2016

Economic Assessment

image of OECD Economic Surveys: Malaysia 2016

This 2016 OECD Economic Survey of Malaysia examines recent economic developments, policies and prospects. The special chapters cover: Productivity and Inclusive Growth.

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Boosting productivity

Productivity growth is essential to providing sustainable increases in living standards. Malaysia has reached a development stage where growth needs to be driven more by productivity gains than the sheer accumulation of capital and labour inputs. The 11th Malaysia Plan (2016-20) sets an ambitious labour productivity growth target of 3.7% per year, well above than the 2% average growth recorded from 2011 to 2015. Co-ordinated structural reforms will be necessary to achieve the productivity improvements needed to attain high-income country status. Areas where reforms would deliver the greatest boost to productivity include increasing the quality of education and skills training, spurring innovation, adopting information technology more widely, fostering a well-functioning competition policy framework, improving the functioning of the labour market and the regulatory framework for small and medium-sized enterprises, fostering regional integration and raising public sector productivity.

English

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