Malaysian Journal of Economic Studies最新文献_第5页

Portfolio Diversification Benefits in Southeast Asian Stock Markets for Turkish Investors 投资组合多元化对土耳其投资者在东南亚股市的好处

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Malaysian Journal of Economic Studies Pub Date : 2020-12-14 DOI: 10.22452/mjes.vol57no2.6

Souhaila Guedira, M. Ariff

引用次数: 1

An Augmented Measurement of the Housing Affordability Cycles in Malaysia 马来西亚住房可负担性周期的扩充测量

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Malaysian Journal of Economic Studies Pub Date : 2020-06-14 DOI: 10.22452/mjes.vol57no1.7

Zhi-Cheng Voon, C. Hooy, Chin-Hong Puah

{"title":"An Augmented Measurement of the Housing Affordability Cycles in Malaysia","authors":"Zhi-Cheng Voon, C. Hooy, Chin-Hong Puah","doi":"10.22452/mjes.vol57no1.7","DOIUrl":"https://doi.org/10.22452/mjes.vol57no1.7","url":null,"abstract":"Malaysia’s property market has been going through a difficult phase as the supply of property stocks are excessive with the demand unable to catch up, and hence, many unsold units remaining on the market. The primary aim of this paper is to develop an index-based housing affordability indicator known as the housing affordability leading index (HALI), which is based on the indicator compilation approach founded by the National Bureau of Economic Research (NBER). The time-varying Markov switching (TVMS) model is then employed to assess the transition probabilities of the constructed housing affordability indicator. The transition probabilities estimate the prospects of the housing affordability condition and how long it will stay in that particular condition before having any major turnover. As the data employed was monthly data from year 2000 to year 2015, the constructed HALI successfully reflects the prior movements of the non-index housing affordability indicator price to income ratios (PIR). The empirical results show that the HALI has an average leading period of 9.5 months when taking the PIR as a benchmark of coincidence indicator for housing affordability movement.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2020-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48614354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Distance to the Frontier and Innovation: The Role of Local Business Environment 前沿距离与创新:地方商业环境的作用

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Malaysian Journal of Economic Studies Pub Date : 2020-06-14 DOI: 10.22452/mjes.vol57no1.2

P. Trang, Vu Hoang Nam

引用次数: 1

Impact of Innovation on Economic Growth: Evidence from Malaysia 创新对经济增长的影响:来自马来西亚的证据

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Malaysian Journal of Economic Studies Pub Date : 2020-06-14 DOI: 10.22452/mjes.vol57no1.6

S. Law, T. Sarmidi, L. Goh

{"title":"Impact of Innovation on Economic Growth: Evidence from Malaysia","authors":"S. Law, T. Sarmidi, L. Goh","doi":"10.22452/mjes.vol57no1.6","DOIUrl":"https://doi.org/10.22452/mjes.vol57no1.6","url":null,"abstract":"This study empirically investigates the effect of innovation on economic growth using the neoclassical economic growth model. Embarking from the traditional labour growth, physical capital and human capital framework, innovation is postulated to be the main driver for robust economic growth. Using time series techniques, we discover very attention-grabbing findings that highlight the impact of innovation on economic growth for Malaysia. First, the innovation measured by the quantity of a total number of a patent application is statistically insignificant. The result is robust for various innovation measurements, including total local patent application and total foreign patent application. Interestingly, switching to total patent grant instead of a total number of patent application (local or foreign), the empirical result shows a significant impact on economic growth. The finding indirectly reveals the crucial impact of quality innovation rather than the quantity concern. Neglecting both quality and the commercialisation process of these new technologies may not solve the rigidity of knowledgecommercialisation paradox. Finally, we test for the prominent institutional quality in mediating economic growth under a knowledge-based economy. The interaction between institutional quality and the total patent grant has significantly accelerated the role of innovation channel to economic growth. The empirical findings imply that inadequacy of innovative technology flow over the long term has a detrimental effect on national innovative capacity. Thus, the innovation-economic growth nexus needs to be complemented with a good institutional quality framework, skilled human capital and broader networking to commercialise the innovative product to ensure that the innovation activities promote economic growth.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2020-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41443890","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 18

Threshold Effect of Institutional Quality and the Validity of Environmental Kuznets Curve 制度质量的阈值效应与环境库兹涅茨曲线的有效性

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Malaysian Journal of Economic Studies Pub Date : 2020-06-14 DOI: 10.22452/mjes.vol57no1.5

T. A. Masron, Y. Subramanian

{"title":"Threshold Effect of Institutional Quality and the Validity of Environmental Kuznets Curve","authors":"T. A. Masron, Y. Subramanian","doi":"10.22452/mjes.vol57no1.5","DOIUrl":"https://doi.org/10.22452/mjes.vol57no1.5","url":null,"abstract":"Using a threshold estimation technique, this study examines the validity of environmental Kuznets curve (EKC) under different institutional quality regimes. A combined set of 99 developed and developing countries over the period from 2008 to 2016 has been chosen to confirm the issue in hand. Adopting panel threshold regression technique by Hansen (1999), the paper finds evidence substantiating the presence of single threshold effect. In general, we find that EKC hypothesis does not hold in the full sample analysis, in which high income fails to bring environmental degradation down. Only in the case of a segregated sample of developed countries, we find that the impact of high income (or income square) on environmental degradation is negative and significant after a certain level of ‘high’ institutional quality has been attained. On the contrary, EKC is found to be invalid, and high income fails to be converted fully to environment-protecting activities in developing countries. Therefore, the effectiveness of income in mitigating environmental issues seems to be dampened by the poor institutional quality in developing countries.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2020-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44434654","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

The International Transmission of Volatility Shocks on an Emerging Economy: The Case of Malaysia 波动冲击对新兴经济体的国际传导:以马来西亚为例

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Malaysian Journal of Economic Studies Pub Date : 2019-12-03 DOI: 10.22452/mjes.vol56no2.4

S. Z. Shah, A. Z. Baharumshah, R. Said, Rafiqa Murdipi

引用次数: 2

Determinants of Poverty: A Dynamic Panel Data Analysis with Controls for Income Level and Inequality 贫困的决定因素:包含收入水平和不平等控制的动态面板数据分析

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Malaysian Journal of Economic Studies Pub Date : 2019-12-03 DOI: 10.22452/mjes.vol56no2.3

Kah Wei Leow, E. Tan

引用次数: 6

Hedonic Analysis of the Impact of Flood Events on Residential Property Values in Malaysia: A Study of Willingness to Pay 洪水事件对马来西亚住宅物业价值影响的分形分析：支付意愿研究

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Malaysian Journal of Economic Studies Pub Date : 2019-06-10 DOI: 10.22452/MJES.VOL56NO1.4

N. Ismail, M. Karim, B. Hasan-Basri

{"title":"Hedonic Analysis of the Impact of Flood Events on Residential Property Values in Malaysia: A Study of Willingness to Pay","authors":"N. Ismail, M. Karim, B. Hasan-Basri","doi":"10.22452/MJES.VOL56NO1.4","DOIUrl":"https://doi.org/10.22452/MJES.VOL56NO1.4","url":null,"abstract":"The effect of flooding on residential property values (RPV) is a major concern to all property buyers and owners. Although numerous studies have already discussed the risk of devaluation of those properties situated in flood prone areas, those that focused on the impact of flooding on residential properties in Malaysia are still limited. This paper extends existing literature by also estimating consumers’ willingness to pay for flood control measures to reduce the flood risk in Malaysia. Using the hedonic pricing model (HPM), our results suggest that the market value of urban and rural residential properties significantly decreases by 18.5 percent and 13.6 percent due to flooding, respectively. The result also shows that, respondents who are risk averse are willing to pay 35.4 percent more for flood control measures to reduce impact of flood risk compared to those who are risk takers. The results of this study can help property owners to understand the factors that contribute to property devaluation due to flooding. This study also proposes flood insurance programmes to be implemented as flooding is a major concern to real property owners.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2019-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46801145","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Determinants of Well-being for Developing and Developed Countries and their Role in Policy-making: A Panel Data Analysis 发展中国家和发达国家福祉的决定因素及其在政策制定中的作用：面板数据分析

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Malaysian Journal of Economic Studies Pub Date : 2019-06-10 DOI: 10.22452/MJES.VOL56NO1.5

J. Ng, Santha Vaithilingam, Jing Moon Chua

{"title":"Determinants of Well-being for Developing and Developed Countries and their Role in Policy-making: A Panel Data Analysis","authors":"J. Ng, Santha Vaithilingam, Jing Moon Chua","doi":"10.22452/MJES.VOL56NO1.5","DOIUrl":"https://doi.org/10.22452/MJES.VOL56NO1.5","url":null,"abstract":"The gross domestic product has been the traditional indicator used to measure economic growth, with almost every country having national policies that are growth-centric in nature. Underlying this practice is the assumption that higher income levels precede higher levels of utility, or well-being. However, the Easterlin paradox discovered by Easterlin in the 1970s contradicts this economic assumption and has subsequently ignited interest in the study of subjective well-being and its determinants. Using the countries’ responses to the life satisfaction question in the World Values Survey as the measure of subjective well-being over a period of time, this study utilises panel data techniques to identify the key determinants of life satisfaction for developing and developed countries. The study also determines the relative importance of these key determinants for the two groups of countries. The findings of this study show that the determinants of life satisfaction differ across developed and developing countries, with religiosity being the only common determinant. The policy implications of these findings are discussed.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2019-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45424251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Efficiency, Asset Quality and Stability of the Banking Sector in Malaysia 马来西亚银行业的效率、资产质量和稳定性

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Malaysian Journal of Economic Studies Pub Date : 2019-06-10 DOI: 10.22452/MJES.VOL56NO1.6

M. Ariff, F. Shawtari

{"title":"Efficiency, Asset Quality and Stability of the Banking Sector in Malaysia","authors":"M. Ariff, F. Shawtari","doi":"10.22452/MJES.VOL56NO1.6","DOIUrl":"https://doi.org/10.22452/MJES.VOL56NO1.6","url":null,"abstract":"Malaysia practices a dual banking system, where conventional banks coexist with Islamic banks. While conventional banks are well established, Islamic banks are growing rapidly. Since Islamic banks consist of two types, namely stand-alone or wholesome Islamic banks and Islamic subsidiaries of conventional banks, it would be revealing to examine if Islamic subsidiaries of conventional banks differ from standalone Islamic banks in terms of efficiency, stability and assets quality. A few studies in the literature that examine the issue have focused on comparisons between Islamic banks and conventional banks, with no consideration given to the differentiation between the two categories of Islamic banks. In this paper, we attempt to examine the differences among the players in the banking sector in Malaysia. This paper extends the traditional analysis of conventional versus Islamic banks to comparisons between stand-alone Islamic banks and Islamic subsidiaries of conventional banks. Using dynamic panel data “generalized methods of moments” (GMM), the study reports that there are differences among different types of banks, viz. conventional banks, Islamic subsidiaries of conventional parents, and stand-alone Islamic banks. It shows that Islamic subsidiaries of conventional banks perform better than stand-alone Islamic banks as well as their own conventional parents. Furthermore, the results show that Islamic subsidiaries are more stable in term of their financing income compared to the rest of the banks, while the stand-alone banks have lower asset quality in comparison with both Islamic subsidiaries and their parents.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2019-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41495931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 7