Globalisation and Deglobalisation- Malaysia

7 Pages Posted: 13 Feb 2019

Date Written: December 21, 2018

Abstract

Malaysia’s integration into global value chains has played a crucial role in the recent development of the economy, helping to promote its diversification into higher value added and services-based manufacturing. Globalisation has also enabled technological advances and higher investment. This has led to faster income growth, particularly for capital owners and highly skilled workers. However, Malaysia is also now faced with new issues, such as a heavier reliance on foreign workers and heightened vulnerability from global developments. In particular, Malaysia also faces challenges posed by highly volatile capital flows. Moving forward, the global economy will inevitably become more interconnected. The policy imperative is to develop a labour force that is able to respond quickly to changing global demands, strengthen economic fundamentals to protect economic resilience and continuously implement structural reforms to future-proof the economy.

Full Publication: Globalisation and Deglobalisation

Keywords: Globalisation, regional integration, global value chain, trade openness, technological advancement, flexible labour market, international policy cooperation, financial integration, trade protectionism

JEL Classification: F60, F62, F63, F66, F68

Suggested Citation

, Central Bank of Malaysia, Globalisation and Deglobalisation- Malaysia (December 21, 2018). BIS Paper No. 100n, Available at SSRN: https://ssrn.com/abstract=3332071

Central Bank of Malaysia (Contact Author)

Central Bank of Malaysia

Jalan Dato' Onn
P.O. Box 10922
Kuala Lumpur, 50929
Malaysia

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