This book explores privatization in Malaysia, focusing in particular on how political constraints resulted in the failure of four major privatizations: the national sewerage company (IWK), Kuala Lumpur Light Rail Transit (LRT), national airline (MAS), and national car company (Proton).
In this first critical, multidisciplinary assessment of recent privatization in a developing country, the contributors offer valuable lessons for the comparative study of denationalization and related public policy options. After an introductory survey, the volume presents broad perspectives on the context, formulation, and adjustment of privatization policy in Malaysia. The contributors review the distributional implications of specific privatizations for the public interest as well as for consumer and employee welfare. The book concludes with an examination of the economic, political, and cultural impacts of the privatization of physical infrastructure, telecommunications, and television programming.
The future of construction industry in a globalized, borderless, technology-driven decade is based upon a number of drivers. The book is written to provide a platform for analysis of the construction industry on some governance and economic issues deemed important and can affect the way construction industry will develop and grow in a particular country, particularly Malaysia. The reference to Malaysia may be similar to some but not all countries. The topics covered include governance, role of state and international organizations, innovations, markets and privatizations as well as sustainability. The book should be a basis for future works or research in some of the areas discussed and should provide a specific reading for students at postgraduate and undergraduate levels. Universiti Sains Malaysia, Penerbit Universiti Sains Malaysia
This paper discusses how Malaysia can better protect itself from future shocks and avoid another crisis while it seeks to regain its position as one of the fastest growing economies in the world. To these ends, its strategy should include continued structural reforms to achieve healthy balance sheets of the banking and corporate sectors; further deregulation to promote competition and efficiency; and consistent macroeconomic policies to maintain financial stability and sustainable fiscal and external positions. Malaysia's economic structure and performance were relatively strong prior to the crisis. Malaysia’s initial low level of short-term external debt enabled it to maintain foreign reserves at a reasonably high level, and this contributed to relatively robust external and domestic confidence early on in the crisis. As a consequence of financial vigilance exercised through prudential regulation of capital movements, the exposure of the financial and corporate systems was contained. Stock market capitalization in Malaysia grew to an extremely high level prior to the crisis, reflecting both the fast expansion of the capital market and liberal capital account regime.
This volume has 18 papers on the theoretical and practical aspects of privatization and deregulation in the sectors of public utilities, telecommunications and public transport, and on the implications of these policies for the capital market and industrial relations.
Derived from the renowned multi-volume International Encyclopaedia of Laws, this book provides ready access to legislation and practice concerning the environment in Malaysia. A general introduction covers geographic considerations, political, social and cultural aspects of environmental study, the sources and principles of environmental law, environmental legislation, and the role of public authorities. The main body of the book deals first with laws aimed directly at protecting the environment from pollution in specific areas such as air, water, waste, soil, noise, and radiation. Then, a section on nature and conservation management covers protection of natural and cultural resources such as monuments, landscapes, parks and reserves, wildlife, agriculture, forests, fish, subsoil, and minerals. Further treatment includes the application of zoning and land-use planning, rules on liability, and administrative and judicial remedies to environmental issues. There is also an analysis of the impact of international and regional legislation and treaties on environmental regulation. Its succinct yet scholarly nature, as well as the practical quality of the information it provides, make this book a valuable resource for environmental lawyers handling cases affecting Malaysia. Academics and researchers, as well as business investors and the various international organizations in the field, will welcome this very useful guide, and will appreciate its value in the study of comparative environmental law and policy.
Privatization raises problems of equity, can lead to greater inequality and changes in market structure. These issues are explored across a broad range of countries by contributors who have a wide experience of privatization.
This book considers the many facets of the privatization process in advanced industrialised countries, along with the marketization of Eastern Europe, and the pressures on developing countries to adopt privatization as the route to growth.
This pioneering volume develops an institutionalist analysis of Malaysias post-colonial economy by exploring the political economy of development and particularly the interface between economics and law. The various authors show that economic policy initiatives in Malaysia have often been accompanied by corresponding legislative and regulatory reforms intended to create an appropriate legal environment, and that economic problems or crises arising from earlier policies have led to major legislative innovations.