Structural Transformation and Economic Resilience: The Case of Malaysia

Cassey Lee

No DP-2024-02, Working Papers from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: Exports have been a critical source for the resilience of the Malaysian economy during the COVID-19 pandemic and post-pandemic period. Long-term structural change in intersectoral production networks could have reduced this resilience. Stronger domestic intersectoral linkages and declining participation in backward global value chain participation are likely to reduce the impact of positive export shocks on the country’s economy. The services sector has become increasing important over time. Consumption in the services sector is clearly an important driver of growth. A positive export shock is enhanced by higher domestic intersectoral linkages in the services sector but not in manufacturing

Keywords: structural change; exports; macroeconomic fluctuations (search for similar items in EconPapers)
JEL-codes: E32 F14 L16 (search for similar items in EconPapers)
Date: 2024-05-07
New Economics Papers: this item is included in nep-sea
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