Economic Insecurity in the Malaysian Context

Lars Osberg

Working Papers from John Deutsch Institute for the Study of Economic Policy

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.

Keywords: ECONOMIC DEVELOPMENT; MALAYSIA; SOCIAL SECURITY (search for similar items in EconPapers)
JEL-codes: E66 O11 O53 (search for similar items in EconPapers)
Pages: 36 pages
Date: 1998
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Citations: View citations in EconPapers (16)

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Working Paper: Economic Insecurity in the Malaysian Context (1999)
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