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Introduction

In: Restructuring the Malaysian Economy

Author

Listed:
  • Robert E. B. Lucas

    (Boston University)

  • Donald Verry

    (University College London)

Abstract

Malaysia’s economic performance must be judged a remarkable success story. In terms of economic growth the record is enviable. Malaysia’s growth in income per person has been amongst the highest in the world over the last twenty-five years. Growth of course is not everything, and Malaysia more than many countries judges her performance against the yardstick of non-growth objectives. Since the emergence of racial conflict in 1969 the achievement of national unity has been an overriding goal. As enshrined in the New Economic Policy (NEP) this goal has been pursued by a two-pronged approach, designed to eradicate poverty, irrespective of race, and to restructure society so as to eliminate the identification of race with economic function and geographical location. Naturally these objectives cannot be, and obviously have not been, pursued to the exclusion of economic growth. Poverty elimination and restructuring are usually more easily achieved in the context of a growing rather than a stagnant economy.

Suggested Citation

  • Robert E. B. Lucas & Donald Verry, 1999. "Introduction," Palgrave Macmillan Books, in: Restructuring the Malaysian Economy, chapter 0, pages 1-2, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-27451-2_1
    DOI: 10.1007/978-1-349-27451-2_1
    as

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