Growth without private investment: what happened in Malaysia and can it be fixed?

摘要: Private investment in Malaysia has never fully recovered from the impact of Asian Financial Crisis (AFC). Both domestic and foreign have remained lackluster post-AFC; while foreigners continue to shun Malaysia, it seems even investors are fleeing as well, with having become a net exporter capital since 2005. continues grow but, without private investment, is unlikely break out middle-income trap. The crucial questions are: what happened can be fixed? We argue that malaise attributed two inter-related factors: (i) distortions introduced by New Economic Policy (NEP) its reincarnates, (ii) widespread presence overbearing influence government-linked corporations (GLCs) deter new investment. While impacts both factors may been masked during heady days leading up AFC, this no longer case current competitive environment where residency options for capi...