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Economic Insecurity in the Malaysian Context

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  • Osberg, L.

Abstract

The abrupt est of rapid economic growth in Malaysia has created a new mood of insecurity. However, "economic insecurity" is rarely discussed in the professional economics literature and has received little emphasis in recent economic policy making in OECD nations. This paper argues that economic insecurity should receive more attention, because it affects social and political stability, and influences individual well-being, personal identity and labor market behavior. As well, the welfare state was largely motivated by a desire to decrease insecurity, but Malaysia has not put in place unemployment insurance or welfare progrmas to mitigate economic insecurity. The paper discusses the differences between "economic insecurity" and "risk", before turning to a discussion of how best to measure economic insecurity.

Suggested Citation

  • Osberg, L., 1998. "Economic Insecurity in the Malaysian Context," Working Papers 18, John Deutsch Institute for the Study of Economic Policy.
    • Handle: RePEc:jdi:wpaper:18
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    Citations

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    Cited by:

    1. Marina Romaguera de la Cruz, 2017. "Economic insecurity in Spain: A multidimensional analysis," Working Papers 448, ECINEQ, Society for the Study of Economic Inequality.
    2. Artjoms Ivlevs, 2014. "Economic Insecurity in Transition: A Primary Commodities Perspective," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 117-140, May.
    3. Celidoni, Martina, 2011. "Vulnerability to poverty: An empirical comparison of alternative measures," MPRA Paper 33002, University Library of Munich, Germany.
    4. Francesca Modena & Concetta Rondinelli & Fabio Sabatini, 2014. "Economic Insecurity and Fertility Intentions: The Case of Italy," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 233-255, May.
    5. Walter Bossert & Conchita D'Ambrosio, 2013. "Measuring Economic Insecurity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 1017-1030, August.
    6. Mariña Fernández Salgado & Francesco Figari & Holly Sutherland & Alberto Tumino, 2014. "Welfare Compensation for Unemployment in the Great Recession," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 177-204, May.
    7. Javier Espinosa & Jorge Friedman & Carlos Yevenes, 2014. "Adverse Shocks and Economic Insecurity: Evidence from Chile and Mexico," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 141-158, May.
    8. Lars Osberg & Andrew Sharpe, 2014. "Measuring Economic Insecurity in Rich and Poor Nations," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 53-76, May.
    9. Watson, Barry & Daley, Angela & Rohde, Nicholas & Osberg, Lars, 2020. "Blown off-course? Weight gain among the economically insecure during the great recession," Journal of Economic Psychology, Elsevier, vol. 80(C).
    10. Nicholas Rohde & Kam Ki Tang & D.S. Prasada Rao, 2014. "Distributional Characteristics of Income Insecurity in the U.S., Germany, and Britain," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 159-176, May.
    11. Cantó, Olga & García-Pérez, Carmelo & Romaguera-de-la-Cruz, Marina, 2020. "The dimension, nature and distribution of economic insecurity in European countries: A multidimensional approach," Economic Systems, Elsevier, vol. 44(3).
    12. Watson, Barry & Osberg, Lars, 2017. "Healing and/or breaking? The mental health implications of repeated economic insecurity," Social Science & Medicine, Elsevier, vol. 188(C), pages 119-127.
    13. Lars Osberg, 2010. "Measuring Economic Insecurity and Vulnerability as Part of Economic Well-Being: Concepts and Context," Working Papers daleconwp2010-04, Dalhousie University, Department of Economics.
    14. Rohde, Nicholas & Tang, Kam Ki & D’Ambrosio, Conchita & Osberg, Lars & Rao, Prasada, 2020. "Welfare-based income insecurity in the us and germany: evidence from harmonized panel data," Journal of Economic Behavior & Organization, Elsevier, vol. 176(C), pages 226-243.

    More about this item

    Keywords

    ECONOMIC DEVELOPMENT ; MALAYSIA ; SOCIAL SECURITY;
    All these keywords.

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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