Wednesday, 4 June 2008

Bad Policies Galore

Martin Wolf's latest piece on the FT reviews the newly launched Spence's Growth Report. A very good read overall, but the best part in relation to Malaysia has to be the list of policies to be avoided:

" Particularly welcome is the short list of policies to be avoided. Among them are: subsidising energy (particularly relevant today); using the civil service as employer of last resort; reducing fiscal deficits by cutting spending on infrastructure; providing open-ended protection to specific sectors; using price controls as a way to curb inflation; banning exports, to keep domestic prices low; underinvesting in urban infrastructure; underpaying public servants, such as teachers; and allowing the exchange rate to appreciate too far, too quickly. "

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