tag:blogger.com,1999:blog-6297413898275266606.post1402881581998756944..comments2024-03-27T18:15:59.096+08:00Comments on Economics Malaysia: Corruption, Crony Capitalism and Growthhishamhhttp://www.blogger.com/profile/06265308095732759923noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-6297413898275266606.post-20415798725696123152020-07-09T18:39:00.537+08:002020-07-09T18:39:00.537+08:00I can think of one reason why neo-liberal ideologu...I can think of one reason why neo-liberal ideologues hated Malaysia: Mahathir did not submit to IMF like Indonesia during the crisis in 97. Nothing much good can be said about the IMF's tactics. Here's a quote from wikipedia: <br />"The end of the IMF agreement with Indonesia was also cemented by longstanding discontent between two parties with the Indonesian government believing MLhttps://www.blogger.com/profile/17253738724204234110noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-6200332684920052312017-02-26T22:55:38.308+08:002017-02-26T22:55:38.308+08:00Most of Asia in the past actually do not subscribe...Most of Asia in the past actually do not subscribe to the laissez faire ideologies of IMF and World Bank that they subscribe. In order for developing countries to catch up to developed countries, most governments were of the opinion that free market policies did not really suit the post-colonial economies which were mostly resource-based, and were driven by colonial enterprises. Private hohttps://www.blogger.com/profile/17988753908738602205noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-38373761600353892242017-02-26T22:39:41.744+08:002017-02-26T22:39:41.744+08:00I think I have said this before in one of the post...I think I have said this before in one of the posts here. But do check out the book edited by Edmund Terence Gomez on Political Business in Asia. Many of the countries in Asia actually have high growth accompanied with high degree of corruption in the 70s to 90s. A lot of the governments in Asia were practicing state-led selective intervention into certain industries and promotes industrial hohttps://www.blogger.com/profile/17988753908738602205noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-13221954729531737422017-02-26T18:36:06.730+08:002017-02-26T18:36:06.730+08:00@Zuo De
Awesome, you're echoing some of my ow...@Zuo De<br /><br />Awesome, you're echoing some of my own thoughts:<br /><br />http://econsmalaysia.blogspot.my/2012/04/nexus-of-corruption-and-higher-income_01.htmlhishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-21292340790100074492017-02-26T18:34:46.175+08:002017-02-26T18:34:46.175+08:00@Fung
Sure there's some impact, but its fairl...@Fung<br /><br />Sure there's some impact, but its fairly minimal and I suspect primarily political and social rather than economic. If it was bigger, nobody would invest in China, for example, yet they still do. If you were right, then we would expect to see systematically slower growth for more corrupt economies, as lower investment reduces potential growth over time. But again, this is nothishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-44712655456291970252017-02-25T14:43:17.262+08:002017-02-25T14:43:17.262+08:00I put on record that I do not like corruption eith...I put on record that I do not like corruption either.<br /><br />But like all things in life, have to learn to live with it.<br /><br />Donald (POTUS) is doing a lot of it now.Zuo Dehttps://www.blogger.com/profile/01581657028981206208noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-54266676916933687712017-02-25T14:41:07.292+08:002017-02-25T14:41:07.292+08:00There is "good" corruption and "bad...There is "good" corruption and "bad" corruption. Alan Beattie "False Economy" explained that Indonesia under a crooked leader prosper while Tanzania stayed poor under an honest one. Like the South Korean leader that had a blacklist against artists is another form of corruption just like cronyism. Whether corruption impede economy is open to debate - I think it is Zuo Dehttps://www.blogger.com/profile/01581657028981206208noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-59353255346372474602017-02-24T16:14:08.912+08:002017-02-24T16:14:08.912+08:00Combining crony with capitalism is misleading and ...Combining crony with capitalism is misleading and gives ammunition to the enemies of market order ... it suggests that cronyism is an outgrowth of the natural operation of capitalism ... however, it is the outcome of incentives created by the political system NOT the economic system ... cronyism works just fine ... or corporatism or rent seeking ... why give aid and comfort to our enemies ... !?!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-10159466029165342422017-02-24T14:18:17.963+08:002017-02-24T14:18:17.963+08:00I think trying to correlate corruption to economic...I think trying to correlate corruption to economic growth is, at best, silly. In fact, I think they have negative correlation. Corruptions would slam the economies into low base and of course they will grow faster eventually when things turn (China, India, ASEAN ex-Singapore, etc.), versus the least corrupt economies that have grown so big and hence they have very little upside over the long termFungnoreply@blogger.com