Forming of human capital in Malaysia

Occupation: Post-graduate student, Institute of Asian and African countries, Lomonosov Moscow State University
Affiliation: МГУ им. М.В.Ломоносова
Address: Russian Federation, Moscow

Journal name

Asia and Africa Today

Edition

Issue 7

Pages

67-72

Abstract

In more than six decades of independent development Malaysia has gone through the difficult path of modernization and industrialization of the economy. Properly implemented reforms and a favorable global situation allowed this country to transform itself from one-sided agrarian and raw material-based economy in the past to the so-called new industrial country. In order to develop further and achieve the status of the economically developed state, Malaysia should adapt to the current situation in the global economy and find additional drivers of growth, the most important of which is the development of human capital. The article is devoted to the consideration of the role of human capital as a key factor in the social and economic development of Malaysia.

In the analysis it is shown that investments in education and human capital development have become a decisive factor in increasing productivity, ensuring the unique competencies and special competitive advantages of Malaysia, as well as allowing the development of high-tech industries with constant growth of value-added production indicators.

The experience of Malaysia has shown that in the context of transition to a new stage of development, it is necessary to strengthen income distribution between the three main ethnic groups which is necessary for building a modern and well-balanced economy. Nevertheless, at the current stage Malaysia has not yet reached the quality of human capital as high as in developed countries but has already managed to move forward along the path of education and quality improvement of work force in general.

Keywords

Malaysia, human capital, knowledge, education, economic growth, labor productivity

Publication date

27.08.2020

Number of characters

17878

Cite

GOST	Kamyshnikova D. Forming of human capital in Malaysia // Asia and Africa Today – 2020. – Issue 7 C. 67-72 [Electronic resource]. URL: https://asaf-today.ru/S032150750010108-0-1 (circulation date: 25.04.2024). DOI: 10.31857/S032150750010108-0
MLA	Kamyshnikova, Daria N. "Forming of human capital in Malaysia." Asia and Africa Today 7 (2020):67-72. DOI: 10.31857/S032150750010108-0
APA	Kamyshnikova D. (2020). Forming of human capital in Malaysia. Asia and Africa Today (7), pp.67-72 DOI: 10.31857/S032150750010108-0

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