Abstract

The administrations in Indonesia, Malaysia, and Thailand have all put in place economic policies designed to increase growth, reduce poverty, and improve governance. In Thailand, the government is taking a more activist role, a change from the previous, more hands-off approach. In both Indonesia and Malaysia, new policies reduce the activist role of the state, creating greater predictability and transparency. Better governance remains a key to growth, with many reforms within governments' reach. While many of the policies focus on the medium term, there is an acceptance of the need for prudent short-term management. The open question is whether progress on structural changes can persist when the short-term macroeconomic picture becomes more challenging.

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