Titlebook: Restructuring the Malaysian Economy; Development and Huma Robert E. B. Lucas,Donald Verry Book 1999 Robert E. B. Lucas and Donald Verry 199

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The Malaysian Education and Training Systemsdentify how the strengths and weaknesses of the country’s skill generation mechanisms have contributed to or held back Malaysia’s growth and whether the human resource base of the economy is in good shape to contribute to the next phase of the country’s development.

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Services, the remainder of services contributed 32 per cent of GDP and provided 35 per cent of total employment in 1993. This follows a decade and a half in which employment growth in services (excluding government services) exceeded that in either manufacturing or agriculture and related activities, as may

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The Short Run: The Rise and Decline of Unemploymenty and passively unemployed — averaged 6.5 per cent and did not fall below 5 per cent. Moreover unemployment was slow to recover from the high point of 8.3 per cent during the recession in 1986. Only in the early 1990s did the unemployment rate finally achieve consistently low rates.

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Summing up outset of this volume. It is a story of rapid growth combined with equity. In summing up, this chapter serves only to reiterate some of the more important themes underlying this transformation, turning first to growth and the development strategy, then to human resources, equity and restructuring.

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