Foreign Investment and Industrialization in Malaysia: Exports, Employment and Spillovers*

Prema‐chandra Athukorala · Jayant Menon

49 citations0/0 files storedAsian Economic Journal

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International Business and FDI Global trade and economics Economic Zones and Regional Development

Abstract

Over the past two decades, there has been a decisive shift in trade and industry policy in developing countries (DCs) away from import substitution and towards export‐orientation. As part of this policy shift, an increasing number of DCs have become more receptive to foreign direct investment (FDI). Despite its policy relevance, the literature on the role of FDI in export expansion, employment generation and spillovers in DCs is sparse. This paper attempts to fill this gap through a case study of the role of export‐oriented FDI in Malaysia's rapid industrialization. The overall conclusion of the paper is that export‐oriented FDI has brought significant returns to Malaysia principally because the general economic climate has been favourable for the internationalization of production for a considerable period of time.

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References

1994The East Asian miracle: economic growth and public policy 1993Proceedings of the World Bank annual conference on development economics 1992 1992Two Strategies for Economic Development: Using Ideas and Producing Ideas 1996The Political Economy of International Trade 1990The political economy of international trade 1992World Investment Report 1992 1995World Investment Report 1995 1992Marketing Manufactured Exports from Developing Countries: Learning Sequences and Public Support*

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2000The Contribution of Foreign Direct Investment to Growth and Stability: A Post-Crisis ASEAN-5 Review 2012British Government, British Businesses, and the Indigenization Exercise in Post-Independence Nigeria 2012Are trade spillover effects on East Asian economic growth productivity driven?

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