Assoc. Prof. Dr. Baharom Abdul Hamid
Qualification: Ph.D.in Economics, Universiti Putra Malaysia (UPM), Malaysia. (2012)
Fields/Area of Specialization: Applied Macroeconomics, with strong interest in Economics of Crime;Natural Disaster;Military Expenditure
Prof. Baharom A. Hamid graduated with a PhD (Economics) from Universiti Putra Malaysia in 2012. He is an active researcher focusing on applied macro studies on non-niche economic areas and new horizons of research in applied economics, with strong interest in Economics of Crime, Natural Disaster and Military Expenditure. He is currently the Director for Research Management Centre (RMC).

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Showing results 1 to 10 of 70
  • is_the_regime_of_risk_transfer_sustainable_abbas_adam_ginanjar_baharom.pdf.jpg
  • Journal Article


  • Mirakhor, Abbas; Ng, Adam Boon Ka; Dewandaru, Ginanjar; Abdul Hamid, Baharom (2017)

  • In a risk transfer and shifting financial systems, an interest rate based debt contract is an "impossible contract," since, under the axioms of conventional economics, the borrower has an incentive not to repay the loan. Such impossible contract is made possible by creating a virtual world of certainty through mechanisms such as collateral requirements and an edifice of legal, administrative, policy incentive mechanisms that include positive and negative enforcements that protect the creditor. The society has to bear huge costs to make them possible. Risk sharing has the potential to enhance efficiency as each party to contracts has "skin-in-the-game", thus eliminating or minimizing the principal-agent problem. Participants in a contract of an economic undertaking ca...

  • IF_Hub_Issue_3_Mitigating_the_size_of_shadow_economy_Baharom.pdf.jpg
  • Newsletter & Bulletin


  • Abdul Hamid, Baharom (2017)

  • Shadow economy and tax evasion are two inseparable phenomena. The existence of the former suggests the present of the latter and vice versa. The presence of shadow economy reduces the tax base and thereby eventually reduces government tax revenue. Since the activity of the shadow economy is excluded from the official gross domestic product (GDP) statistics, thus, official GDP statistics will provide wrong indicators for macroeconomic policy decisions. On the other hand, tax evasion is a growing concern to the government as the tax revenue loss has serious economic consequences. By evading taxes the government is deprived from providing adequate financing for public services, infrastructure, human capital development, best health care services and other facilities that would benefit the ...

  • item.jpg
  • Chapter in Book


  • Abdul Hamid, Baharom; Najibullah, Syed; Habibullah, Muzafar Shah (2017)

  • The study aims to address marketing effectiveness of both Islamic banks and conventional banks (CBs) by using a modified "chain-of-effect" framework. Against current literature, which is based on customer surveys, reports do not include marketing activities by the Islamic banks (IB); this study adopts a bank perspective to explore the IB's behavior in this regard. Applying fixed-effect panel regression on the quarterly data of five IBs and five CBs in Malaysia, the study aims to explore the influence of marketing efforts on performance...

  • dynamic_heterogeneous_panel_estimation_impact_income_inflation_happiness_stock_returns_baharom.pdf.jpg
  • Journal Article


  • Abdul Hamid, Baharom; Habibullah, Muzafar Shah; Rasiah, Ratneswary (3-2016)

  • This study examines the long-run relationships and short-run dynamic interactions between stock returns and its determinants comprising of GDP per capita, inflation and happiness, over the period 1973 to 2012. The study applies the dynamic heterogenous panel estimation techniques of Mean Group (MG), Pooled Mean Group (PMG) and Dynamic Fixed Effects (DFE) to analyse a set of macro panel data on selected OECD countries to establish the possible causal relations between these variables. The theoretical framework of this study is based on the stock returns theories of Present Value Model/Discounted Cash Flows and “Risk-as-feelings” Theory. The results of this study show evidence that income has a favourable impact on stock returns, while inflation dampens stock returns. Interestingly, the s...

  • are_shadow_economy_matter_tourism_International_evidence_baharom.pdf.jpg
  • Journal Article


  • Din, Badariah H.; Habibullah, Muzafar Shah; Abdul Hamid, Baharom; Saari, M. D. (2016)

  • The present study attempts to investigate whether shadow economy and the tourism sector are related. In the European countries, Schneider reported that 20 to 25 per cent of the shadow economy is represented in the tourism-related industries – wholesale and retail, automotive and motorcycle sales and maintenance; transportation, storage and communications; and hotels and restaurants. For the tourism sector, the services given by operators (unregistered and/or underreporting) operate in the shadow economy will ultimately wiped off the map of high quality tourist destinations and destroyed the development of the tourism industry itself. This study examines the short-run and long-run relationships between international tourism receipts and shadow economy for 149 countries over the period 19...

  • shadow_economy_and_financial_sector_development_in_Malaysia_muzafar_badariah_yusof_baharom.pdf.jpg
  • Journal Article


  • Habibullah, Muzafar Shah; Din, Badariah H.; Saari, M. Yusof; Abdul Hamid, Baharom (2016)

  • This paper explores the link between the shadow economy and financial sector development in Malaysia for the period 1971-2013. We calculate the size of the shadow economy by using the modified-cash-deposits-ratio approach recently developed by Pickhardt and Sardia (2011). We investigate the contention made by Blackburn et al. (2012) that financial sector development can mitigate shadow economy, higher level of financial sector development lead to lower level of shadow economy. Our results show that there is a non-linear long-run relationship between shadow economy and financial sector development in Malaysia, an inverted-U shape curve, suggesting that at lower (higher) level of financial sector development commensurate with higher (lower) level of the shadow economy. One policy implicat...

  • good_governance_crime_rates_malaysia_baharom.pdf.jpg
  • Journal Article


  • Habibullah, Muzafar Shah; Din, Badariah H.; Abdul Hamid, Baharom (2016)

  • Purpose – The purpose of this paper is to relate the quality of governance with crime in Malaysia. The study also identifies the best good governance tool to fight against crime in Malaysia. Design/methodology/approach – The study uses time-series data on crime rates and six measures of governance: voice and accountability, political stability, government effectiveness, regulatory quality, rule of law and control of corruption. In this study the authors employed the popular autoregressive distributed lagged modeling approach to estimate the long-run model of crime and governance. Findings – The authors test the hypothesis that good governance lowers crime rates (total crime, violent and property crimes). The results suggest a negative relationship between crime rates and good g...

  • item.jpg
  • Journal Article


  • Mohd Tahir, Hirnissa; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2016)

  • This paper examines the causality between military expenditures and economic growth for twenty selecteddeveloping countries. In this paper we test for Granger long-run causality employing the Panel Error-Correction Model (ECM) framework using annual data for the period 1970 to 2005. Military expenditure is measured using the logarithm of the ratio of military expenditures to gross domestic product (milex); while economic growth is proxied by the logarithm of real GDP per capita (rgdppc). Causation (as well as cointegration) is inferred from milex to rgdppc, in a panel setting using the Pooled Mean Group (PMG) estimator proposed by Pesaran et al. (1999) when the Error-Correction (ECM) term is significant in an equation with rgdppc as dependent variable. On the other hand, Granger causali...

  • financial_risk_exposures_airlines_industry_evidence_Cathay_Pacific_Airways_China_Airlines_baharom.pdf.jpg
  • Journal Article


  • Yashoda, Yasmin; Abdul Hamid, Baharom; Habibullah, Muzafar Shah (2016)

  • This study explores the long run and dynamic relationships between the stock price of Cathay Pacific Airways and China Airlines against key determinants of financial risks exposure confronting the airline industry, which include interest-rate, exchange rate and fuel price risk exposures for the period of January 1996 to December 2011. The (Johansen & Juselius, 1990) cointegration technique was employed to detect any long time trending relationship followed Vector Error Correction Model (VECM) and Vector Auto-Regression (VAR). The generalised forecast error variance decomposition and the generalised impulse response function were employed to comprehend the effects of theses financial risk exposures. Our empirical results suggest that exchange rate movements have a substantial impact,...

  • malaysia_us_trade_question_sustainability_correct_policy_baharom_2015.pdf.jpg
  • Industry Article


  • Abdul Hamid, Baharom; Habibullah, Muzafar Shah (2015-09-30)

  • The on-off-on again-off again Malaysia-US Free Trade Agreement (MUSFTA) is a proposed treaty between Malaysia and the United States of America. Initial negotiations, in fact started way back in 2005 and as all other Free Trade Agreements (FTAs), the treaty aims to liberalise each other markets to parties of the agreement and directly encourage trade between the two countries. Malaysia has a commendable and enviable economic growth and development. Our macroeconomic policies have always been designed to create a more liberalized and fair international trade environment. Though Malaysia continues to accord high priority to the rule-based multilateral trading system under the World Trade Organisation (WTO), Malaysia is also pursuing regional and bilateral trading arrangements to complement...

Assoc. Prof. Dr. Baharom Abdul Hamid
author picture
Qualification: Ph.D.in Economics, Universiti Putra Malaysia (UPM), Malaysia. (2012)
Fields/Area of Specialization: Applied Macroeconomics, with strong interest in Economics of Crime;Natural Disaster;Military Expenditure
Prof. Baharom A. Hamid graduated with a PhD (Economics) from Universiti Putra Malaysia in 2012. He is an active researcher focusing on applied macro studies on non-niche economic areas and new horizons of research in applied economics, with strong interest in Economics of Crime, Natural Disaster and Military Expenditure. He is currently the Director for Research Management Centre (RMC).
Showing results 1 to 10 of 70
  • is_the_regime_of_risk_transfer_sustainable_abbas_adam_ginanjar_baharom.pdf.jpg
  • Journal Article


  • Mirakhor, Abbas; Ng, Adam Boon Ka; Dewandaru, Ginanjar; Abdul Hamid, Baharom (2017)

  • In a risk transfer and shifting financial systems, an interest rate based debt contract is an "impossible contract," since, under the axioms of conventional economics, the borrower has an incentive not to repay the loan. Such impossible contract is made possible by creating a virtual world of certainty through mechanisms such as collateral requirements and an edifice of legal, administrative, policy incentive mechanisms that include positive and negative enforcements that protect the creditor. The society has to bear huge costs to make them possible. Risk sharing has the potential to enhance efficiency as each party to contracts has "skin-in-the-game", thus eliminating or minimizing the principal-agent problem. Participants in a contract of an economic undertaking ca...

  • IF_Hub_Issue_3_Mitigating_the_size_of_shadow_economy_Baharom.pdf.jpg
  • Newsletter & Bulletin


  • Abdul Hamid, Baharom (2017)

  • Shadow economy and tax evasion are two inseparable phenomena. The existence of the former suggests the present of the latter and vice versa. The presence of shadow economy reduces the tax base and thereby eventually reduces government tax revenue. Since the activity of the shadow economy is excluded from the official gross domestic product (GDP) statistics, thus, official GDP statistics will provide wrong indicators for macroeconomic policy decisions. On the other hand, tax evasion is a growing concern to the government as the tax revenue loss has serious economic consequences. By evading taxes the government is deprived from providing adequate financing for public services, infrastructure, human capital development, best health care services and other facilities that would benefit the ...

  • item.jpg
  • Chapter in Book


  • Abdul Hamid, Baharom; Najibullah, Syed; Habibullah, Muzafar Shah (2017)

  • The study aims to address marketing effectiveness of both Islamic banks and conventional banks (CBs) by using a modified "chain-of-effect" framework. Against current literature, which is based on customer surveys, reports do not include marketing activities by the Islamic banks (IB); this study adopts a bank perspective to explore the IB's behavior in this regard. Applying fixed-effect panel regression on the quarterly data of five IBs and five CBs in Malaysia, the study aims to explore the influence of marketing efforts on performance...

  • dynamic_heterogeneous_panel_estimation_impact_income_inflation_happiness_stock_returns_baharom.pdf.jpg
  • Journal Article


  • Abdul Hamid, Baharom; Habibullah, Muzafar Shah; Rasiah, Ratneswary (3-2016)

  • This study examines the long-run relationships and short-run dynamic interactions between stock returns and its determinants comprising of GDP per capita, inflation and happiness, over the period 1973 to 2012. The study applies the dynamic heterogenous panel estimation techniques of Mean Group (MG), Pooled Mean Group (PMG) and Dynamic Fixed Effects (DFE) to analyse a set of macro panel data on selected OECD countries to establish the possible causal relations between these variables. The theoretical framework of this study is based on the stock returns theories of Present Value Model/Discounted Cash Flows and “Risk-as-feelings” Theory. The results of this study show evidence that income has a favourable impact on stock returns, while inflation dampens stock returns. Interestingly, the s...

  • are_shadow_economy_matter_tourism_International_evidence_baharom.pdf.jpg
  • Journal Article


  • Din, Badariah H.; Habibullah, Muzafar Shah; Abdul Hamid, Baharom; Saari, M. D. (2016)

  • The present study attempts to investigate whether shadow economy and the tourism sector are related. In the European countries, Schneider reported that 20 to 25 per cent of the shadow economy is represented in the tourism-related industries – wholesale and retail, automotive and motorcycle sales and maintenance; transportation, storage and communications; and hotels and restaurants. For the tourism sector, the services given by operators (unregistered and/or underreporting) operate in the shadow economy will ultimately wiped off the map of high quality tourist destinations and destroyed the development of the tourism industry itself. This study examines the short-run and long-run relationships between international tourism receipts and shadow economy for 149 countries over the period 19...

  • shadow_economy_and_financial_sector_development_in_Malaysia_muzafar_badariah_yusof_baharom.pdf.jpg
  • Journal Article


  • Habibullah, Muzafar Shah; Din, Badariah H.; Saari, M. Yusof; Abdul Hamid, Baharom (2016)

  • This paper explores the link between the shadow economy and financial sector development in Malaysia for the period 1971-2013. We calculate the size of the shadow economy by using the modified-cash-deposits-ratio approach recently developed by Pickhardt and Sardia (2011). We investigate the contention made by Blackburn et al. (2012) that financial sector development can mitigate shadow economy, higher level of financial sector development lead to lower level of shadow economy. Our results show that there is a non-linear long-run relationship between shadow economy and financial sector development in Malaysia, an inverted-U shape curve, suggesting that at lower (higher) level of financial sector development commensurate with higher (lower) level of the shadow economy. One policy implicat...

  • good_governance_crime_rates_malaysia_baharom.pdf.jpg
  • Journal Article


  • Habibullah, Muzafar Shah; Din, Badariah H.; Abdul Hamid, Baharom (2016)

  • Purpose – The purpose of this paper is to relate the quality of governance with crime in Malaysia. The study also identifies the best good governance tool to fight against crime in Malaysia. Design/methodology/approach – The study uses time-series data on crime rates and six measures of governance: voice and accountability, political stability, government effectiveness, regulatory quality, rule of law and control of corruption. In this study the authors employed the popular autoregressive distributed lagged modeling approach to estimate the long-run model of crime and governance. Findings – The authors test the hypothesis that good governance lowers crime rates (total crime, violent and property crimes). The results suggest a negative relationship between crime rates and good g...

  • item.jpg
  • Journal Article


  • Mohd Tahir, Hirnissa; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2016)

  • This paper examines the causality between military expenditures and economic growth for twenty selecteddeveloping countries. In this paper we test for Granger long-run causality employing the Panel Error-Correction Model (ECM) framework using annual data for the period 1970 to 2005. Military expenditure is measured using the logarithm of the ratio of military expenditures to gross domestic product (milex); while economic growth is proxied by the logarithm of real GDP per capita (rgdppc). Causation (as well as cointegration) is inferred from milex to rgdppc, in a panel setting using the Pooled Mean Group (PMG) estimator proposed by Pesaran et al. (1999) when the Error-Correction (ECM) term is significant in an equation with rgdppc as dependent variable. On the other hand, Granger causali...

  • financial_risk_exposures_airlines_industry_evidence_Cathay_Pacific_Airways_China_Airlines_baharom.pdf.jpg
  • Journal Article


  • Yashoda, Yasmin; Abdul Hamid, Baharom; Habibullah, Muzafar Shah (2016)

  • This study explores the long run and dynamic relationships between the stock price of Cathay Pacific Airways and China Airlines against key determinants of financial risks exposure confronting the airline industry, which include interest-rate, exchange rate and fuel price risk exposures for the period of January 1996 to December 2011. The (Johansen & Juselius, 1990) cointegration technique was employed to detect any long time trending relationship followed Vector Error Correction Model (VECM) and Vector Auto-Regression (VAR). The generalised forecast error variance decomposition and the generalised impulse response function were employed to comprehend the effects of theses financial risk exposures. Our empirical results suggest that exchange rate movements have a substantial impact,...

  • malaysia_us_trade_question_sustainability_correct_policy_baharom_2015.pdf.jpg
  • Industry Article


  • Abdul Hamid, Baharom; Habibullah, Muzafar Shah (2015-09-30)

  • The on-off-on again-off again Malaysia-US Free Trade Agreement (MUSFTA) is a proposed treaty between Malaysia and the United States of America. Initial negotiations, in fact started way back in 2005 and as all other Free Trade Agreements (FTAs), the treaty aims to liberalise each other markets to parties of the agreement and directly encourage trade between the two countries. Malaysia has a commendable and enviable economic growth and development. Our macroeconomic policies have always been designed to create a more liberalized and fair international trade environment. Though Malaysia continues to accord high priority to the rule-based multilateral trading system under the World Trade Organisation (WTO), Malaysia is also pursuing regional and bilateral trading arrangements to complement...