CHARTING THE ECONOMY : Early 20th century Malaya and Contemporary Malaysian contrasts
This book charts the course of Malaya’s commodity-dependent economy during the first 40 years of the 20th century while under British colonial control, contrasting that course with the economic growth and development in contemporary Malaysia. It asks: What is the economic legacy of British colonialism in the Malay Peninsula, and how differently has the economy performed under national management? By deriving estimates of Malaya’s GDP and its components for 1900– 1939, and analysing trends and their interrelationships, it deepens understanding of the dynamics of economic performance during these four decades.
The study of long-run economic growth in Malaysia in the 20th century had previously been held back by the absence of comprehensive statistical data on national income before World War II. Yet national income accounts are fundamental for measuring and understanding the anatomy and evolution of economies—and for planning and managing them. Today most countries keep detailed national accounts that are routinely compiled by government statistical agencies. Such accounts provide the evidence base for seriously challenging the prevailing views about the efficiency of markets and laissez-faire economic policy. Klik continue reading HERE