Secure formal institutions

political constraints on government behavior.

secure formal institutions:
legal system
property rights
tax system
finance system

Secure formal institutions
Most significant facilitators of economic
dynamism, secure formal institution got 37.5%.
Most significant obstacles of economic
dynamism, insecure formal institution got 47%.
Government should fight against corruption.
The degree of influence of Secure formal
institutions on the economic dynamism of
developing countries is 6,71, which is the 3
rd

highest factor.
Secure formal institutions in Malaysia
Legal system:
The legal system and its laws follow closely English
Common law principals and also apply judgments and
decisions by the English Courts in deciding a case.
property rights:
Intellectual property protection in Malaysia comprises
of:
Patents
Trademarks
Industrial designs

Secure formal institutions in Malaysia
tax system:
The self-assessment system was implemented for companies,
sole proprietor, partnerships, cooperatives and salaried
groups.
The assessment of income tax is based on a current year
basis.
finance system:
financial system comprises of a diversified range of
institutions to serve the more varied and complex needs of
the domestic economy.
The financial system consists of the conventional financial
system and the Islamic financial system which co-exists and
operates in parallel.


References
http://www.esri.ie/
http://www.prd.uth.gr/
http://www.eraconsumer.org/
http://www.mida.gov.my/
http://ideas.repec.org/
http://www.kehakiman.gov.my/