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Malaysia NAP: More Shadows than Lights

Author

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  • Ferlito, Carmelo

Abstract

After World War II, and in particular during the 1960s and the 1970s, many developing countries began their industrial revolution path. In particular, most of them followed a path of government-led industrial development, with central planning at the heart of the industrial policy. Such a model is not new in economic history and it is typical of many ‘second-comers’ in the industrialization process. The most famous one is the case of Prussia/Germany: with the Zollverein (1833-34) and after the unification in 1870, it was the government which stimulated the development of a powerful heavy industrial system, following what was preached at the time by Friedrich List. In particular, the key point of List preaching was that second-comers countries need to protect their industrialization process (characterized by infant industries) from foreign competition. According to List, once the protected industries reach an adequate competitive level, protection should be removed and the national companies should face competition in the market, in order to stimulate further technological development. Many second-comers countries embraced this model; however, in most cases they failed to follow the second part of List’s recommendations: opening to the market in a second stage.

Suggested Citation

  • Ferlito, Carmelo, 2015. "Malaysia NAP: More Shadows than Lights," MPRA Paper 67714, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:67714
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    References listed on IDEAS

    as
    1. Jesús Huerta de Soto, 2010. "Socialism, Economic Calculation and Entrepreneurship," Books, Edward Elgar Publishing, number 13905.
    2. Ferlito, Carmelo, 2011. "Garrison's Capital-Based Macroeconomics: The Role of Deficit, Credit Control and Taxation," MPRA Paper 67747, University Library of Munich, Germany.
    3. Phaneuf, Emile & Ferlito, Carmelo, 2014. "On Human Rationality and Government Control," MPRA Paper 67746, University Library of Munich, Germany.
    4. Kaoru Natsuda & John Thoburn, 2014. "How much policy space still exists under the WTO? A comparative study of the automotive industry in Thailand and Malaysia," Review of International Political Economy, Taylor & Francis Journals, vol. 21(6), pages 1346-1377, December.
    5. Ferlito, Carmelo, 2015. "Entrepreneurship: State of grace or human action? Schumpeter’s leadership vs Kirzner’s alertness," MPRA Paper 67694, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East
    • N65 - Economic History - - Manufacturing and Construction - - - Asia including Middle East
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages
    • P47 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Performance and Prospects
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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