The role of government and governance in economic development : the Malaysian experiences

Abstract

This paper examines the role of government and governance in economic development in Malaysia. Malaysia represents a developing country that has successfully achieves an impressive and sustained rate of economic growth in the last thirty years. The study focuses on the impact of government and governance economic programs and policies on various sectors over time. Specifically, it examines the relationship between government policies and economic performance in Malaysia since independence in 1957. It seeks to answer and analyze to what extend, and how the Malaysian economy has successfully met the challenges of the economic scenarios, including more recently, the Asian crises and the most widely spoken of globalization. The contributions of this study, which consists of a comprehensive analysis of the role of government and governance in promoting economic development, are multifaceted. They include how government and good governance affected the economy through its fiscal and monetary policies. It also contains review of the many developmental lessons derived from the Malaysian experience.