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Summary
Summary
This volume explores Malaysian business in the era that began with the Asian financial crisis of 1997-1999. The contributions, by a broad range of international experts, are informed by a wish to identify what Malaysia needs to do to sustain economic growth, remain internationally competitive and further social stability in the post-crisis period.
Malaysia's unconventional response to the crisis suggests that its business community has developed a new level of confidence in its ability to adopt and sustain innovative policies even when these strategies challenge the international financial community. This response is perceived as evidence that Malaysian business has indeed entered a new era characterised by a high level of confidence in the nation's capacity to weather the external periodic shocks that are a feature of the current wave of globalisation. The book argues that there are grounds for optimism in this regard while recognising that the true test will occur when Malaysia is compelled to confront a major decline in its international export markets brought on by a truly major crisis such as an OECD-wide recession.
Business scholars and professionals as well as readers interested in Asian business and economics will find this volume informative.
Author Notes
Edited by Chris Nyland, Professor, Department of Management, Faculty of Business and Economics, Wendy Smith, formerly Senior Lecturer in Management and Director, Centre for Malaysian Studies, Russell Smyth, Senior Lecturer, Department of Economics and Marika Vicziany, Professor of Asian Political Economy and Director, Monash Asia Institute, Monash University, Australia
Table of Contents
List of figures | p. vii |
List of tables | p. ix |
List of contributors | p. xiii |
Preface | p. xvii |
1. Economic and social adjustment in Malaysia in the 'new' business era | p. 1 |
2. Malaysian export competitiveness compared with the dynamic Asian economies: past performance and prospects for the next millennium | p. 11 |
3. Australian business attitudes to Malaysia | p. 29 |
4. Transaction costs of cross-cultural exchange: Evidence from Australia-Malaysia case studies | p. 51 |
5. Japanese electronics firms in Malaysia: After the financial crisis | p. 67 |
6. The importance of size in the growth and performance of the electrical industrial machinery and apparatus industry in Malaysia | p. 81 |
7. Sustaining the growth effects of foreign investment: The case of multinational subsidiaries in Malaysia | p. 99 |
8. Market performance and the speed of the invisible hand: The case of Malaysian manufacturing | p. 113 |
9. A comparison of business process re-engineering with other management techniques in Malaysia | p. 129 |
10. Tour guide training: Lessons for Malaysia about what works and what's needed | p. 149 |
11. Economic growth, international competitiveness and public service moral values: A study of Penang Island Municipal Council officers | p. 163 |
12. Globalisation and labour in Malaysia | p. 179 |
13. Islamic identity and work in Malaysia: Islamic work ethics in a Japanese joint venture in Malaysia | p. 189 |
14. The 1997-98 financial crisis in Malaysia and its social impact: Some lessons | p. 203 |
15. What determines the long-run movements of the Malaysian ringgit? | p. 215 |
16. Returns to liquidity on KLOFFE (Kuala Lumpur Options and Financial Futures Exchange) | p. 233 |
17. 'Asian values', moral communities and resistance in contemporary Malaysian politics | p. 245 |
Index | p. 261 |