This book examines foreign capital's role in stimulating industrialization. Using both conventional and unconventional approaches, the author finds foreign capital to have played a positive role in Malaysia's industrialization. The branch- and industry-level analyses show generally strong pecuniary effects by foreign capital. Local-dominated branches and industries, however, show strong linkages with the domestic economy. The firm-level analysis tends to reveal strong technological spillovers from foreign capital. The book closes with regulatory prescriptions to enhance positive spillovers.

This book explores the foundation and nature of the relationship between capitalist accumulation and the state in East Asia and Latin America that has profoundly influenced industrialization and macroeconomic performance. Scholars from both sides of the Pacific offer critical perspectives on the differing fates of the two regions, especially over t

This book discusses historically the emergence and contribution of foreign capital in Malaysia's industrial development. After an extensive review of the extant literature on the development implications of foreign direct investment, the book uses different methodologies to evaluate the contribution of foreign capital to industrialization in the country. One chapter discusses using historical work the significance of foreign capital in the emergence of industrialization in colonial Malaya. The book that examines using Kaldor's increasing returns methodology to examine in aggregate terms the significance of manufacturing FDI in the national economy, and in the individual manufacturing industries using trade ratios, productivity and linkage coefficients. The final two analytical chapters uses a novel snowballing data collection methodology to examine pecuniary and technological spillovers from foreign firms onto local firms.

Some of the most successful growth economies in the Pacific Rim have combined protectionist Import Substitution Industrialisation policies with export-oriented policies. This study provides a systematic rethinking of relationships between strategies within the Malaysian context.

This conference proceedings examines whether FDI’s contribution to economic development will respond in a balanced and sustainable way to the aspirations and expectations of host and home countries alike.

This book covers nine countries of ASEAN and the East Asian area, including major Asian countries, and compares their respective policies to attract Foreign Direct Investments (FDI). Through comparative study of FDI promotion policies, this book will give policy makers in the area of FDI promotion an overview and comparison of the FDI policies of other countries. In addition, researchers at graduate, post-graduate or professional level will gain from the econometric methodology and detailed definitions of various spillover effects (horizontal and vertical), which will be beneficial to their research. In addition to FDI policy comparison, this book focuses on the various spillover effects of FDI. It separates it into categories: own productivity effects; intra-industry spillover effects; and inter-industry spillover effects (forward and backward linkage effects). While most other studies have only taken econometric tests on own-productivity and intra-industry spillovers, a key advantage to this book is that it also covers the separate effects of inter-industry linkages. Through policy comparison and econometric tests on various spillover effects on economic growth, employment and exports, this book will give policy makers and researchers an innovative and constructive guide to FDI.

Existing accounts of East Asia’s meteoric growth and structural change has either been explained as one dictated essentially by markets with strong macroeconomic fundamentals, or a consequence of proactive governments. This book departs from such a dichotomy by examining inductively the drivers of the experiences. Given the evolutionary treatment of each economic good and service as different, this book examines technological catch up with a strong focus on the industries contributing significantly to the economic growth of the countries selected in Asia. The evidence produced supports the evolutionary logic of macro, meso and micro interactions between several institutions, depending on the actors involved, structural location and typology of taxonomies and trajectories. The book carefully picks out experiences from the populous economies of China, India and Indonesia, the high income economies of Korea and Taiwan, the middle income economies of Malaysia and Thailand, and the transitional least developed country of Myanmar. Chapters 1-7 of this book were originally published as a special issue of Journal of the Asia Pacific Economy.

This book captures Malaysia's foreign policy over the first fifty years and beyond since the date of the country's formal independence in 1957. The author provides "macro-historical" narratives of foreign policy practices and outcomes over distinct time periods under the tenures of the five prime ministers. One chapter delves into relations with immediate neighbouring states and another chapter analyses the political economy of foreign policy. A postscript deals with the transition of foreign policy beyond the fifth decade. The concluding chapter suggests that Malaysian middlepowermanship has been in the making in foreign policy practice being particularly evident since the Mahathir years. Employing a critical-constructivist approach throughout the study, the author posits that foreign policy should be appreciated as outcomes of socio-political-economic processes embedded within a Malaysian political culture. In terms of broad policy orientations, Malaysian foreign policy over five decades has navigated over the terrains of neutralism, regionalism, globalization and Islamism. However, the critical engagement of civil society in foreign policy construction remains a formidable challenge.

This book presents the future development of Malaysia. It puts together building blocks to achieve a better future. These blocks are poverty and income inequality, population, demography and urbanization, growth and technological progress, education, human capital and skills, finance, labor, the environment, and health care. It examines the reasons for the decline in the agricultural sector with an emphasis on food security. It discusses Malaysia’s economic growth and structural change compared to some of the Northeast East Asian and Southeast Asian countries. It explains the projections of population and demographic change and its bearing on government policies. It evaluates the country’s education sector and discusses the strategies to improve its role in the country further. It argues for replacing ethnic-based approaches with a needs-based system for the future direction to build a plural Malaysia. This insightful book is of interest across several fields, including demography, economic development, and urbanization.