Private investment in Malaysia has never fully recovered from the impact of the Asian Financial Crisis (AFC). Both domestic and foreign investment have remained lackluster post-AFC; while foreigners continue to shun Malaysia, it seems even domestic investors are fleeing as well, with Malaysia...

Free trade agreements (FTAs) have been proliferating in Asia for more than a decade. International fragmentation of production and the resultant cross-border production networks have been growing for a much longer period. Although FTAs are not necessary for the formation of production networks,...

Private investment in Malaysia has been sluggish since the Asian Financial Crisis. One explanation is that the growing presence of state-owned enterprises (SOEs) or government-linked corporations (GLCs) has been crowding out private investment. For the first time, we provide empirical evidence...