Charting the Economy by Sultan Nazrin Shah

Charting the Economy by Sultan Nazrin Shah

Charting the Economy assesses the course of Malayas commodity-dependent economy during the first 40 years of the 20th century under British colonial control, contrasting it with economic growth and development in contemporary Malaysia. Drawing on archival documents to derive estimates of Malayas GDP and analysing trends, it breaks new ground in understanding the dynamics of economic performance. In the first half of the 20th century, the Malay Peninsula, like much of Southeast Asia, was under colonial rule. Colonialism facilitated the control of lands, institutions and peoples, as well as the exploitation of natural resources. Malayas economy was largely agrarian, supported by two primary commodity pillarstin and rubberproduced to meet the needs of the industries and people in Europe and North America. Sultan Nazrin Shah eloquently articulates how the economy rode a commodity roller-coaster. Being small and open, it was exceedingly vulnerable to external cyclical shocksWorld War I (19141918), the Roaring Twenties (19201929), and the Great Depression (19291932) which were the main causes of economic booms and busts. This book makes a compelling case that the colonial laissez-faire economic system worked well for the agency houses that repatriated huge profits but paid small dividends to the masses. Development was highly uneven, with growth and prosperity concentrated in and benefiting the Peninsulas west coast states, where most of the tin mines and rubber plantations were located. After independence, national control over economic management was accompanied by a long-term vision for a socially just nation. Real GDP growth in post-independence Malaysia brought rapid advances in standards of living.

Sultan Nazrin Shah

Sultan Nazrin Shah is the Ruler of Perak, and the Deputy Yang di-Pertuan Agong of Malaysia. He is Chancellor of the University of Malaya. He is an Honorary Fellow of Worcester College, Oxford, and of Magdalene College and St Edmund's College, both Cambridge. Sultan Nazrin Shah has a PhD in Political
Economy and Government from Harvard University.

SKU	Unavailable
ISBN 13	9789834720148
ISBN 10	9834720149
Title	Charting the Economy
Author	Sultan Nazrin Shah
Condition	Unavailable
Binding Type	Hardback
Publisher	Oxford University Press,South East Asia
Year published	2017-09-14
Number of pages	0
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.