Malaysia: Industrial Success and the Role of Government

Sanjaya Lall

Chapter 6 in Learning from the Asian Tigers, 1996, pp 148-165 from Palgrave Macmillan

Abstract: Abstract The Malaysian economy has been one of the best performers in the developing world over the past twenty-five years. Malaysian GDP grew at an annual rate of 6.7 per cent during 1971–90, led by a manufacturing sector that expanded at 10.3 per cent. Performance was even stronger in the early part of the 1990s, when the economy grew at 8.1 per cent per annum and the manufacturing sector at 12.3 per cent, the highest rate of industrial growth in Asia with the exception of China. This industrial performance led to a massive structural transformation of the economy, with the share of manufacturing in GDP rising from 14 per cent in 1971 to 30 per cent in 1993, and that of traditional sectors (agriculture and mining) declining from 43 to 24 per cent.1 This impressive performance has two quite distinct segments — the export of manufactured products and production for the domestic market.

Keywords: Industrial Policy; Heavy Industry; Import Substitution; Export Growth; Export Sector (search for similar items in EconPapers)
Date: 1996
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DOI: 10.1057/9780230389892_6

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