In defence of national economic autonomy? Malaysia's response to the financial crisis

In defence of national economic autonomy? Malaysia's response to the financial crisis
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捍卫民族经济自主权?

DOI:
10.1080/095127400363659
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发表时间:
2000
期刊:
The Pacific Review
影响因子:
--
通讯作者:
Helen E. S. Nesadurai
Helen E. S. Nesadurai
中科院分区:
--
文献类型:
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作者:
Helen E. S. Nesadurai

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由于金融危机,一些评论家认为,东亚国家的改革进程是金融市场自律行为的结果,这将导致新自由主义形式的资本主义的出现。然而,马来西亚的经验表明,尽管政府不得不越来越多地适应全球市场,但向新自由主义经济组织形式的发展并非不可避免。在马来西亚,国内政治因素限制了新自由主义调整对策的接受程度。首先,政府需要维持基于种族的分配政策,以国家和政权安全为理由,在物质权利上偏袒马来族。第二,国家并没有完全与一个关键的社会群体隔绝,这个群体是基于种族的分配政策的结果,即精英马来公司群体。第三个原因是经济民族主义,这是马哈蒂尔总理强调建立马来西亚公司和企业集团的国家愿景的一个重要组成部分。至少在所述期间,获得国内调整资金来源和政府权力集中,特别是总理办公室的权力集中,促进了这一捍卫国家经济安排的进程。然而,基于族裔的分配政策的有限自由化并不意味着意识形态和政策议程转向完全接受新自由主义规范和做法。实施资本管制,虽然是作为一项临时措施宣布的,为政府追求其首选的调整路线提供空间,但进一步表明马来西亚对自由市场的承诺是有益的。马来西亚的案例表明,金融危机导致的向新自由主义经济组织形式的转变可能是有限的,并非不可避免。
As a result of the financial crisis, some commentators see the reform process in the East Asian states as an outcome of the disciplining behaviour of financial markets that will lead to the emergence of a neoliberal form of capitalism. The Malaysian experience suggests, however, that progress to neoliberal forms of economic organization will not be inevitable, despite governments having to increasingly accommodate global markets. In Malaysia, the degree to which a neoliberal adjustment response could be embraced was limited by domestic political factors. First, the government needed to maintain the ethnic based distributive policy that favours ethnic Malays with material entitlements for reasons of state and regime security. Second, the state was not wholly insulated from a key social group that emerged as a result of the ethnic-based distributive policy, namely an elite Malay corporate group. A third reason was economic nationalism, a major component of Prime Minister Mahathir's vision for the country that stressed the building up of Malaysian corporations and conglomerates. Access to domestic sources of funds for adjustment and the centralization of power in the government, particularly in the office of the Prime Minister, facilitated this process of defending national economic arrangements, at least during the period in question. The limited liberalization of the ethnic based distributive policy did not, however, imply a shift in the ideological and policy agenda towards complete embrace of neoliberal norms and practices. The imposition of capital controls, although announced as a temporary measure to allow space for the government to pursue its preferred course of adjustment, further indicates that the commitment to free markets in Malaysia is instrumental. The Malaysian case suggests that movement towards neoliberal forms of economic organization as a result of the financial crisis may be limited and is not inevitable.