Forging Economic Stability through Peace Economics: An Experience of Malaysia

Abstract

This paper expounds on the role of peace economics in forging economic stability, drawing insights from the Malaysian experience. With an emphasis on the interconnectedness among economic stability, Islamic perspective and peaceful coexistence, the study delves into how peace economics can contribute to sustainable economic growth and societal harmony. Focusing on Malaysia's unique context, characterised by its diverse cultural fabric and multiethnic society, this paper highlights the significance of peace economics in promoting inclusive development and mitigating potential sources of conflict. Through an analysis of key economic policies and practices, the study sheds light on how peace economics has shaped Malaysia's journey towards fostering economic stability and social cohesion. This study employed a qualitative approach that involves an in-depth examination of relevant data and a comprehensive exploration of the implications of peace economics on Malaysia's economic landscape. The findings underscore the pivotal role of peace economics in facilitating a conducive environment for sustained economic prosperity and fostering resilience in the face of socio-economic challenges.