By Mohammad Anuar Adnan, Masudul Alam Choudhury, Uzir Abdul Malik
The Malaysian financial system is constructing speedy in the context of accelerating globalization. The booklet analyses intensive Malaysia's guidelines aimed toward selling foreign alternate, fiscal progress and social welfare. It additionally reports Malaysia's place within the Southeast Asia quarter and in an international context. This research types the root for the formula of an alternate improvement approach, whose objective is generating a being concerned civil society and embellishing the overall welfare of the inhabitants whereas constructing the financial system.
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Additional resources for Alternative Perspectives in Third-World Development: The Case of Malaysia
Its total imports are now about RM20 billion and still increasing. With Malaysian society growing in size and becoming more educated, knowledgeable and affluent, and enjoying higher standards of living, we expect changes to take place not only in terms of the quantity and variety of goods and services demanded but also in terms of quality. The pressure to improve on quality comes both from the demanding buyers and the more open competition from abroad. The bottom line is the ability to invest, to compete and to remain competitive.
There was a direct government participation in the management of the economy in order to reduce poverty and to restructure the society in favour of the Bumiputeras (mainly the indigenous Malays). But from the early 19808 onwards, with the significant decline in world economic growth, the failures of many state enterprises and burdened by a fast growing public debt, the government shifted towards more flexible administrative guidance. ' concepts. 24 Malaysia's Economic Performance Despite the shift in the role of the government as against the market and the private sector, the public sector continues to be an important provider of employment and income, a producer of goods and services , an investor of capital and a manager of the economy .
Consequently, the government was able to alIocate additional resources in absolute terms, amounting to RM104 billion under the Sixth Malaysia Plan (1991-5). INDUSTRIAL DEVELOPMENT The rapid growth achieved in the 1970s had transformed the Malaysian economy from one dominated by the agricultural sector to one with the industrial sector, particularly manufacturing, playing an increasingly important role. 6 and 29 per cent. Furthermore, the manufacturing sector was increasingly driven by export-led growth rather than import substitution.
Alternative Perspectives in Third-World Development: The Case of Malaysia by Mohammad Anuar Adnan, Masudul Alam Choudhury, Uzir Abdul Malik