Malaysia's Political Economy Politics, Patronage and Profits [Paperback]

This 1997 book uses the concepts of rent and rent-seeking to study Malaysian political economy.This 1997 book uses the concepts of rent and rent-seeking as tools to study the Malaysian political economy, exploring how political patronage influences the accumulation and concentration of wealth. This revised edition examines the impact of the 1997 Asian financial crises on Malaysia's economy.This 1997 book uses the concepts of rent and rent-seeking as tools to study the Malaysian political economy, exploring how political patronage influences the accumulation and concentration of wealth. This revised edition examines the impact of the 1997 Asian financial crises on Malaysia's economy.This 1997 book is an insightful and accessible analysis of contemporary Malaysian business and politics. Using the concepts of rent and rent-seeking as tools to study the Malaysian political economy, the authors explore how political patronage influences the accumulation and concentration of wealth. The book considers the impact of party politics and economic development on the relationship between politics and business in Malaysia, and provides discussions of government-led change in Malaysia's business community, including the emergence of a Malay business class. In this revised edition, the authors examine how the 1997 Asian currency, liquidity and financial crises have impacted on Malaysia's economy. Their discussion canvasses various economic policy responses, including capital control measures, as well the ensuing economic recession and political turmoil.1. Defining the parameters; 2. The colonial legacy; 3. The new economic policy; 4. Privatising state assets; 5. The 'new rich'; 6. Liberalisation after 1990?; 7. Politics, policies and patronage; Afterword: from economic to political crisis.