Poverty alleviation strategies and new economic model in Malaysia

Poverty eradication remains high on the national agenda. Malaysia’s seriousness about poverty eradication - one of the millennium development goals - has enabled it to achieve a drastic reduction of the poverty rate from 60% in the 1970s to 3.8% in the 20009. Hard core poverty has been virtually e...

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Main Authors:	Mohamed, Mohd Zin, John Antony, Xavier
Format:	Article
Language:	English
Published:	Academic Research Publishers 2015
Subjects:	H96 Public policy (General), Policy sciences
Online Access:	http://irep.iium.edu.my/43559/ http://irep.iium.edu.my/43559/ http://irep.iium.edu.my/43559/1/IARJEF_Mar2015_Mohd_zin_mohamed_%281%29.pdf

id	iium-43559
recordtype	eprints
spelling	iium-435592017-11-15T00:29:58Z http://irep.iium.edu.my/43559/ Poverty alleviation strategies and new economic model in Malaysia Mohamed, Mohd Zin John Antony, Xavier H96 Public policy (General), Policy sciences Poverty eradication remains high on the national agenda. Malaysia’s seriousness about poverty eradication - one of the millennium development goals - has enabled it to achieve a drastic reduction of the poverty rate from 60% in the 1970s to 3.8% in the 20009. Hard core poverty has been virtually eliminated, declining to 0.7% in 2009. Although the incidence of poverty is low, pockets of poverty exist with high incidence among specific ethnic groups and localities.The New Economic Model (NEM) takes the fight against poverty to even further heights. Unveiled in 2010, the NEM is the roadmap to double Malaysia’s current per capita income of USD 7,000 to USD 15,000-17,000 by 2010 and, thereby, qualify as a high-income country in line with its Vision 2020. This ambition causes the NEM to focus on the lower 40% income households who have experienced a relatively flat income growth rate compared to those in the top 20% and middle 40% households who have enjoyed steep income growth rates over the last three decades. Combining descriptive and analytical methods involving interviews with selected high-level officials directly involved in poverty eradication and secondary data, the paper evaluates Malaysia’s efforts at poverty eradication over the last 50 years. It highlights the approach taken by the NEM in combating poverty. Much of Malaysia’s success has been the result of its macro- and micro-management of poverty eradication. At the macro level, policies and plans spell out the broad strategies to conquer poverty.The determination of poverty eradication as one of the six national key result areas brings poverty eradication under micro scrutiny. Specific policy initiatives and programmes are being implemented to wipe out pockets of poverty.The practical value of this paper is that it offers policy-makers a digest of workable strategies critical success factors in poverty eradication. Academic Research Publishers 2015-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/43559/1/IARJEF_Mar2015_Mohd_zin_mohamed_%281%29.pdf Mohamed, Mohd Zin and John Antony, Xavier (2015) Poverty alleviation strategies and new economic model in Malaysia. International Academic Research Journal of Economics and Finance, 3 (4). pp. 17-31. ISSN 2227-6254 http://acrpub.com/acrpub/acr_html/international%20academic%20research%20journal%20of%20economics%20and%20finance.html
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	H96 Public policy (General), Policy sciences
spellingShingle	H96 Public policy (General), Policy sciences Mohamed, Mohd Zin John Antony, Xavier Poverty alleviation strategies and new economic model in Malaysia
description	Poverty eradication remains high on the national agenda. Malaysia’s seriousness about poverty eradication - one of the millennium development goals - has enabled it to achieve a drastic reduction of the poverty rate from 60% in the 1970s to 3.8% in the 20009. Hard core poverty has been virtually eliminated, declining to 0.7% in 2009. Although the incidence of poverty is low, pockets of poverty exist with high incidence among specific ethnic groups and localities.The New Economic Model (NEM) takes the fight against poverty to even further heights. Unveiled in 2010, the NEM is the roadmap to double Malaysia’s current per capita income of USD 7,000 to USD 15,000-17,000 by 2010 and, thereby, qualify as a high-income country in line with its Vision 2020. This ambition causes the NEM to focus on the lower 40% income households who have experienced a relatively flat income growth rate compared to those in the top 20% and middle 40% households who have enjoyed steep income growth rates over the last three decades. Combining descriptive and analytical methods involving interviews with selected high-level officials directly involved in poverty eradication and secondary data, the paper evaluates Malaysia’s efforts at poverty eradication over the last 50 years. It highlights the approach taken by the NEM in combating poverty. Much of Malaysia’s success has been the result of its macro- and micro-management of poverty eradication. At the macro level, policies and plans spell out the broad strategies to conquer poverty.The determination of poverty eradication as one of the six national key result areas brings poverty eradication under micro scrutiny. Specific policy initiatives and programmes are being implemented to wipe out pockets of poverty.The practical value of this paper is that it offers policy-makers a digest of workable strategies critical success factors in poverty eradication.
format	Article
author	Mohamed, Mohd Zin John Antony, Xavier
author_facet	Mohamed, Mohd Zin John Antony, Xavier
author_sort	Mohamed, Mohd Zin
title	Poverty alleviation strategies and new economic model in Malaysia
title_short	Poverty alleviation strategies and new economic model in Malaysia
title_full	Poverty alleviation strategies and new economic model in Malaysia
title_fullStr	Poverty alleviation strategies and new economic model in Malaysia
title_full_unstemmed	Poverty alleviation strategies and new economic model in Malaysia
title_sort	poverty alleviation strategies and new economic model in malaysia
publisher	Academic Research Publishers
publishDate	2015
url	http://irep.iium.edu.my/43559/ http://irep.iium.edu.my/43559/ http://irep.iium.edu.my/43559/1/IARJEF_Mar2015_Mohd_zin_mohamed_%281%29.pdf
first_indexed	2023-09-18T21:02:04Z
last_indexed	2023-09-18T21:02:04Z
_version_	1777410690029453312

Poverty alleviation strategies and new economic model in Malaysia

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