Malaysia growth in GDP per capita decent, not spectacular : Harvard professor

KUALA LUMPUR: Malaysia's growth rate in GDP per capita over the years, is decent but not spectacular, said Professor Dwight H Perkins, Harold Hitchings Burbank Professor of Political Economy and Emeritus in the Faculty of Art and Sciences of Harvard University.

He was speaking at a special lecture entitled "Understanding Malaysia's Growth Rate in comparison with the rest of East Asia" held in University Malaya earlier today.

According to Dwight, Malaysia has achieved a steady growth of 3-4% between 1960 and 2015, which he said is a comfortable position for the country in the next 30 years.

However, Malaysia has to strive towards becoming a more innovative society and not only rely on foreign direct investors for innovation, in order to maintain its steady growth level, he said at a public lecture called Understanding Malaysia's Growth Rate in Comparison with the rest of East Asia.

Dwight said reforms in the education system and immigration policies are crucial for Malaysia if it were to remain in this comfortable position.

On the overall performance of Malaysia, he said it has only achieved an average growth level when compared to its Asean neighbours. Malaysia, however has chartered unparalleled success when compared to Latin American or African countries.