Foreign Capital and Industrialization in Malaysia
This text examines foreign capital's role in stimulating industrialization. Using both conventional and unconventional approaches, the book shows how foreign capital has played a positive role in Malaysia's industrialization. The branch- and industry-level analyses show generally strong pecuniary effects by foreign capital. Local-dominated branches and industries, however, show strong linkages with the domestic economy. The firm-level analysis tends to reveal strong technological spillovers from foreign capital. The study ends with regulatory prescriptions to enhance positive spillovers.