Malaysia: An 'Asian Tiger' Reawakens
On May 9, 2018, in an extraordinary upset, Mahathir Mohamad again became Malaysia’s Prime Minister. Najib Razak, who had headed the government since 2009, had been swept up in the 1MDB scandal—perhaps the biggest state-corruption incident in history. Although Malaysia’s growth had remained solid since the financial crisis, the scandal undermined the budget, the country’s debt position, and foreigners’ willingness to invest. What was it in the history, culture, and institutional structure of the country that had allowed 1MDB to happen. And could the 93-year-old Mahathir get the country back on track?
Keywords: Government and Politics; Crime and Corruption; Financial Crisis; Business and Government Relations; Economy; Leading Change; Malaysia;
Citation:
Vietor, Richard. "Malaysia: An 'Asian Tiger' Reawakens." Harvard Business School Case 719-073, June 2019. View Details