Economic Reforms in the Aftermath of Regime Change in Malaysia

Abstract

AbstractThe 14th general election in May 2018 brought about an unexpected change in political rule in Malaysia for the first time since the country's independence in 1957. In its first year of rule, the new Pakatan Harapan‐led government implemented several populist economic policies that were drawn from its election manifesto. While these policies may have moderated populist politics to some extent, they have also weakened the government's fiscal capacity. Ethnic fragmentation and a strengthened opposition alliance have also made it difficult for the new government to implement its ambitious institutional reform agenda.