The Distribution of the Benefits

Abstract

Per capita GDP in Malaysia rose from $1828 in 1950 to $3088 (1985 international dollars) in 1973, the period in which the foundations of rapid development were laid, and then to $5775 in 1990. The annual rate of growth in these two periods was 2.2 per cent and 3.8 per cent respectively. In the first period the performance was relatively modest, surpassed easily in Southeast Asia by Singapore (7.1 per cent) and Thailand (3.8 per cent), with Indonesia and the Philippines only slightly better (2.4 per cent). In the second period, however, only Singapore (6 per cent) and Thailand (5.2 per cent) achieved faster growth (Table 7.2 above).