Impact Of New Economic Policy In Malaysia Journal

Economic policy should now shift gears to focus on boosting the economy via proactive fiscal stimulus.

Impact of new economic policy in malaysia journal. Revisiting the debate malaysian journal of economic studies ol. The aim of this paper is to discuss the issues concerning the new economic policy nep of malaysia. It is argued that neither of the above arguments are helpful in understanding the nep s impact. 1 2016 53 this paper aims to revisit the latter debate while also touching on distribution insofar as it affects growth.

It sought to eradicate poverty and restructure society to eliminate the identification of race with economic function in order to create the conditions for national unity. The new economic policy and the differential economic performance of the races in west malaysia in nash manning ed economic performance in malaysia. However it was based on an apparent paradox the use of ethnic preference to promote national unity. Even though the policy has ended nearly 20 years to date the issues of unequal treatments felt by the non bumiputeras and power struggle are still debatable.

The economic and political perspectives. It was implemented in 1971 in the aftermath of the 1969 racial riots and the period set for the implementation of nep was 1971 1990. Malaysia s new economic policy growth and distribution. In a simple definition the new economic policy is malaysia s socioeconomic affirmative action plan.

The original policy sought to eradicate poverty and achieve economic parity among the country s various ethnic communities. The new economic policy 1970 1990 in malaysia. The overriding objective of the nep was stated as national unity. For more than 40 years the new economic policy and its successor programs have shaped malaysia s socioeconomic development and the allocation of political power.

Regardless the outcry it is undeniable that the nep has great significant on putting the economic and social balance between ethnics. Malaysia s new economic policy nep was announced in 1970 as part of a package of measures introduced after the political crisis of may 1969. International journal of law and social sciences 2 2 12 17. The new media and malaysian politics in historical perspective.

Development and alternative consiousness. Although the new policies have put far greater emphasis on achieving rapid growth industrialization and structural change there is the widespread perception that public policy is still dominated by the nep s interethnic economic policies especially wealth redistribution or restructuring targets.