Enhancing Institutions and Improving Regulation: The Malaysian Case

The micro foundations of macroeconomic growth are well-recognised, and even at the policy level in Malaysia there is ample evidence that the political leadership accepts the need for microeconomic reform. The privatisation initiative that was undertaken in the late 1980s is a milestone in microeconomic reform in Malaysia, and while it points to the recognition of the need for micro reform, it also bares the glaring necessity for institutional structures that can support microeconomic reform.