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Developing with Foreign Investment: Malaysia

Author

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  • Premachandra Athukorala
  • Jayant Menon

Abstract

Abstract Over the past two decades, there has been a decisive shift in trade and industry policy in developing countries (DCs) away from import substitution and towards export‐orientation. As part of this policy shift, an increasing number of DCs have become more receptive to foreign direct investment (FDI). Despite its policy relevance, the literature on the role of FDI in the export expansion of manufactured exports from DCs is sparse. This article attempts to fill this gap through a case study of the role of export‐oriented FDI in Malaysia's rapid industrialisation. The overall conclusion of the article is that export‐oriented FDI has brought significant returns to Malaysia principally because the general economic climate has been favourable for the internationalisation of production for a considerable period of time.

Suggested Citation

  • Premachandra Athukorala & Jayant Menon, 1995. "Developing with Foreign Investment: Malaysia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 28(1), pages 9-22, January.
  • Handle: RePEc:bla:ausecr:v:28:y:1995:i:1:p:9-22
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    File URL: https://doi.org/10.1111/j.1467-8462.1995.tb00873.x
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    Cited by:

    1. T.K. Jayaraman & Baljeet Singh, 2007. "Foreign Direct Investment and Employment Creation in Pacific Island Countries: An Empirical Study of Fiji," Working Papers 3507, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
    2. Prema-Chandra Athukorala & Jayant Menon, 1997. "Export-led Industrialisation, Employment and Equity: The Malaysian Case," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 4(1), pages 63-76.
    3. Goh, Soo Khoon, 2009. "Is Productivity Linked To Wages? An Empirical Investigation in Malaysia," MPRA Paper 18095, University Library of Munich, Germany.
    4. Daina McDonald, 2006. "150 Issues of The Australian Economic Review: The Changing Face of a Journal over Time," Melbourne Institute Working Paper Series wp2006n01, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    5. Menon, Jayant, 2009. "Managing Success in Viet Nam: Macroeconomic Consequences of Large Capital Inflows with Limited Policy Tools," Working Papers on Regional Economic Integration 27, Asian Development Bank.
    6. Vicki Crinis, 2012. "Global Commodity Chains in Crisis : The Garment Industry in Malaysia," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 4(3), pages 61-82, October.
    7. Menon, Jayant, 2009. "Macroeconomic management amid ethnic diversity: Fifty years of Malaysian experience," Journal of Asian Economics, Elsevier, vol. 20(1), pages 25-33, January.
    8. Menon, Jayant, 1998. "Total factor productivity growth in foreign and domestic firms in Malaysian manufacturing," Journal of Asian Economics, Elsevier, vol. 9(2), pages 251-280.
    9. Chakraborty, Debashis & Mukherjee, Jaydeep & Lee, Jaewook, 2016. "Do FDI Inflows influence Merchandise Exports? Causality Analysis on India over 1991-2016," MPRA Paper 74851, University Library of Munich, Germany.
    10. Yip, Paul S.L. & Yao, S.T., 2006. "Removing foreign direct investment's exchange rate risk in developing economies: the case for a foreign exchange custodian board," International Review of Economics & Finance, Elsevier, vol. 15(3), pages 294-315.
    11. Mei Wen, 2007. "Foreign direct investment, regional market conditions and regional development," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 15(1), pages 125-151, January.
    12. repec:ebl:ecbull:v:6:y:2005:i:1:p:1-15 is not listed on IDEAS
    13. Danish Ahmed SIDDIQUI & Mohsin Hasnain AHMAD & Muhammad ASIM, 2013. "The causal relationship between Foreign Direct Investment and Current Account: an empirical investigation for Pakistan economy," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(8(585)), pages 91-106, August.

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