Anis Suriati Ahmad, Zuriadah Ismail, Anuar Sarun, Nurhanie Mahjom
The political economy of Malaysia is largely shaped by its historical context, which deliberately retained race-based social order in its developmental agendas. The historical context and prevailing social conflict resulting from colonial policy placed potentially problematic restraints on the hegemonic social order and functioning but Malaysia’s ability in assimilating hegemonic discourse into the Malaysian political economy requires further investigation. This study examines the governance and regulatory reform within the Malaysian socio-economic, political and historical domain. It can be observed that the development of nation-building saw an odd blend of policies; a highly interventionist developmental state to ensure a smooth implementation of the Bumiputera affirmative policy and the neo-liberal agendas which favoured capital accumulation.