Open AccessAnalysing the Economic Performance and Projecting for Future: The Case of Malaysia
Author(s) -
C. A. Malarvizhi,
M Chitra
Publication year - 2020
Publication title -
shanlax international journal of economics (online)
Language(s) - English
Resource type - Journals
ISSN - 2582-0192
DOI - 10.34293/economics.v8i3.3222
Subject(s) - globalization , earnings , foreign direct investment , agrarian society , agrarian system , independence (probability theory) , economics , economy , agriculture , business , economic system , market economy , macroeconomics , geography , statistics , mathematics , accounting , archaeology
After Independence, Malaysia had originally started with a focus on diversifying agricultural exports by growing and strengthening its export earnings and income. This approach was pursued as a reliable economic development strategy. However, with the resulting rapid development, the country transited from an agrarian economy to a manufacturing-centric economy.Considering the diverse trends of Malaysia’s economy due to the globalization and privatization, this study aims to analyze the past trends of the economy and mainly concentrate on the current and future scenario in this country. By following a historical research method and by considering the economic data sets for the period of 2005-2016, this paper finds that the impact of globalization, the impact of enterprise privatization on economic growth, job creation, and on FDI inflow, vary significantly over ten years under consideration.