This article argues that better informed insights into the benefits and repercussions of the form of development of East Asian economies could be obtained when the theoretical perspectives from two different bodies of literature are employed collectively. If the concepts from the discipline of political economy, specifically the body of literature dealing with the developmental state now commonly deployed in analyses of East Asian economies, is used in combination with concepts from the literature on business history based on the work of Alfred Chandler, the reasons for the rise and fall of major enterprises in East Asia can be better understood. A case study of enterprise and economic development in Malaysia is presented to substantiate this argument.
AbstractThis paper assesses the patterns of financing of political parties and elections in Malaysia. The poor regulation of the activities of parties and of all forms of political elections has contributed to allegations of covert funding of politicians, from both Malaysian and foreign sources. Since parties have grossly unequal access to funds, this has led to unfairness in federal and state elections. This paper also deals with two fundamental issues in the financing of politics. First, Malaysia is one of very few countries where parties own corporate enterprises, a trend known as ‘political business’. Second, money-based factionalism, known as ‘money politics’, is threatening the existence of parties and undermining public confidence in government leaders. Party factionalism is based not on ideological differences but on which political leader has the greatest capacity to distribute funds to capture grassroots-level support. Two core issues contribute to the extensive monetization of politics. First, existing disclosure requirements do not adequately restrict the covert funding of politics or ensure electoral fair play. Second, public institutions that oversee electoral competition are not sufficiently autonomous to act without favour. Finally, this paper reviews the levels of transparency built into current legislation, the pattern of financing of parties and electoral campaigns, and the relevant regulatory bodies’ institutional capacity to ensure fairness and accountability during elections. The paper proposes legislative and institutional reforms to ensure electoral fairness, within and between parties.
This article reviews theoretical perspectives about the development of ethnic Chinese-owned enterprises in two major sets of literature. The first school is one that adopts culture as the primary explanatory tool for the dynamism of Chinese enterprise. The second school employs the concept of transnationalism, which has served to create a link between identity and capitalism, to analyse Chinese entrepreneurship. Both sets of literature argue that common ethnic identity facilitates the creation of business networks, which explains the rise of 'Chinese capitalism'. This study questions the foundations of these theoretical arguments by tracing the evolution of family firms and by employing the concept of 'generational change'.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.