Browsing by Topic Conventional finance::Economics

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Showing results 74 to 83 of 95
  • recent_ongoing_advances_econometric_methodology_applied_research_mm.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur (2009)

  • Introduction: Conventional regression techniques and non-cointegrated VARs. The following were the major alternative approaches to modeling up until, say, 1990: 1.1 Large scale macro models that typically involve: i. distinguishing exogenous and endogenous variables; ii. imposing restrictions of shortrun dynamics to achieve identification; iii. estimation usually by OLS or IV and are used for simulations. Examples are Fed Reserve Bank Model, Reserve Bank of Australia Model, Chris Murphy Model of Australian economy, London Business School Model, Fair Model of the US economy. 1.2 NonCointegrated VAR Models: Unrestricted, Bayesian and Structural VAR forms: i. Unrestricted VAR is freq...

  • regional_spillovers_economic_growth_neighbouring_countries_matter_sabah_sarawak_baharom.PDF.jpg
  • Journal Article


  • Authors: Habibullah, Muzafar Shah; Awang Marikan, Dayang Affizzah; Puah, Chin Hong; Abdul Hamid, Baharom (2013)

  • The objective of the present paper is to address the question whether the economic development of the neighbouring countries, states or provinces have impacted the states of Sabah and Sarawak or vice versa. Using annual data for the period 1968 to 2003, results indicate that the growth of the state of Sarawak is affected by the growth of Brunei Darussalam, Sabah, West Kalimantan and East Kalimantan and the economy of Sabah is affected by the economies of Brunei, Sarawak and East Kalimantan.

  • social_capital_co2_emission_output_relations_panel_analysis_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Siong, Hook Law (2014)

  • The present paper examines the mitigating effect of social capital on the environmental Kuznets curve (EKC) for CO2 emissions using a panel data of 69 developed and developing countries. Adopting generalised method of moments (GMM) estimators, the paper finds evidence substantiating the presence of EKC. Moreover, the evidence suggests that the pollution costs of economic development tend to be lower in countries with higher social capital reservoir. Surprisingly, there is also evidence to indicate that the income threshold point beyond which CO2 emissions decline is higher in countries with higher social capital. These results are robust to addition of alternative controlled variables...

  • stock_market_development_macroeconomic_performance_thailand_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2011)

  • Rapid development of financial markets particularly stock markets has been a main feature of many emerging markets. The conventionally held view, which has a basis in the seminal work of Schumpeter (1911), is that the stock market development is beneficial to the economy since it provides liquidity and an avenue for risk sharing and diversification, allows efficient allocation of resources to productive investment, reduces information and transaction costs and, consequently allows firms to undertake profitable investments. This view has been supported by various early empirical studies noting a positive relation between stock market development and economic growth. It has also been su...

  • systematic_risk_time_scales_new_evidence_from_application_wavelet_approach_emerging_gulf_stock_markets_masih_etal.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Alzahrani, Mohammed; Al-Titi, Omar (2010-01-01)

  • The paper is the first attempt to estimate systematic risk ‘beta’ at different time scales in the context of the emerging Gulf Cooperation Council (GCC) equity markets by applying a relatively new approach in finance known as wavelet analysis. Our results indicate that on average beta coefficients in all GCC countries show a multiscale tendency. This is consistent with our theoretical expectation that stock market investors have different time horizons due to different trading strategies and that is also reflective of the characteristics of the GCC markets in particular in that they are less developed, less liquid, involve more transaction costs, highly dependent on individual investo...

  • Tax_evasion_tax_burden_and_economic_development_in_Asean_5_baharom.pdf.jpg
  • Journal Article


  • Authors: Din, Badariah H.; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2018)

  • Tax evasion is a crime. Recent estimates registered the loss of tax revenue amounting to USD3.1 trillion or 5.1% of world's GDP. Tax revenue losses have negative consequences to the government ability to fuelled economic growth by providing enough public infrastructure and other services. In this study we have estimated the share of shadow economy to the official economy for five ASEAN economies, namely; Indonesia, Malaysia, the Philippines, Singapore and Thailand for the period 1980-2013 using the MIMIC model. The indexes of the shadow economy from the MIMIC model were then used to calculate the loss in tax revenue as a result of the presence of the shadow economy. We then test the h...

  • technical_efficiency_manufactured_rubber_product_malaysia_stochastic_frontier_analysis_baharom.pdf.jpg
  • Journal Article


  • Authors: Radam, Alias; Ahali, Noor Maliza; Abdul Hamid, Baharom (2012)

  • This paper investigates the technical efficiencies of rubber product manufacturing industry in Malaysia. We employed Stochastic Frontier Analysis (SFA). Secondary data from 313 firms that manufacture rubber product was obtained from the Annual Survey Of Manufacturing Industries 2004 by Department of Statistics Malaysia. Variables that are included in this are such as capital (RM), labor, and energy. Results clearly show that the mean technical efficiency of manufactured rubber product industry in Malaysia is 0.70328 or 70.33 percent. Majority of the firms are also fairly efficient in the use of available resources. Some technical assistance such as training programs for the proprietor...

  • testing_service-led_investment-led_hypothesis_evidence_chindia_baharom.pdf.jpg
  • Journal Article


  • Authors: Abdul Hamid, Baharom; Habibullah, Muzafar Shah; R. C., Royfaizal (2009-03-01)

  • This study examines the meaningful relationship between economic growth, and service sector contribution and domestic investment in two major Asian economies, namely India and China. Autoregressive Distributed Lag (ARDL) bounds testing procedure is employed to analyze the impact of the selected variables namely (1) contribution by the service sector, (2) (4) domestic investment on economic growth and vice versa. The period of interest is 1960-2005 using annual data. The empirical results demonstrate that for the case of India, there is (1) a unidirectional causality from domestic investment to economic growth and (2) from economic growth to services. As for China, only unidirectional ...

  • tests_different_variants_monetary_model_developing_economy_malaysian_experience_pre-_post-crisis_periods_mansur.pdf.jpg
  • Journal Article


  • Authors: Lee, Chin; Azali, M.; Mohammed Masih, Abul Mansur (2009)

  • This study examines the validity of four different variants of the monetary model of exchange rate determination for Malaysia covering both the preand post-crisis periods using the vector error-correction models. The findings demonstrate that for both periods, the variables used are cointegrated. Tests tend to suggest that of the four variants of monetary model, the sticky-price model holds in both periods and the flexible-price model holds only in the post-crisis period. The proportionality between the exchange rate and relative money does not hold in any period. The plotted actual and fitted exchange rates for both sub-samples show that the models are able to track the actual exchan...

  • behaviour_ MENA_oil_non_oil_producing_countries _international_portfolio_optimization_shamser.pdf.jpg
  • Journal Article


  • Authors: Mansourfar, Gholamreza; Ramadili Mohd, Shamsher Mohamad; Hassan, Taufiq (2010)

  • It is well documented in developed economies that portfolio investment across national borders brings benefits of increasing returns and/or reducing risk. Dividing MENA stock markets into two main groups (oil producing and non-oil producing countries), this study examines the potential role of each group in providing diversification benefits for international investors. In addition, the behavior of the long and the short-run Efficient Frontiers (EFs) constructed by each of the sub-groups and the combined MENA markets is explored. Multi-objective international portfolio models are proposed under Mean-Variance and Mean-Lower Partial Moment frameworks, and the Multiple Fitness Function G...

Browsing by Topic Conventional finance::Economics

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 74 to 83 of 95
  • recent_ongoing_advances_econometric_methodology_applied_research_mm.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur (2009)

  • Introduction: Conventional regression techniques and non-cointegrated VARs. The following were the major alternative approaches to modeling up until, say, 1990: 1.1 Large scale macro models that typically involve: i. distinguishing exogenous and endogenous variables; ii. imposing restrictions of shortrun dynamics to achieve identification; iii. estimation usually by OLS or IV and are used for simulations. Examples are Fed Reserve Bank Model, Reserve Bank of Australia Model, Chris Murphy Model of Australian economy, London Business School Model, Fair Model of the US economy. 1.2 NonCointegrated VAR Models: Unrestricted, Bayesian and Structural VAR forms: i. Unrestricted VAR is freq...

  • regional_spillovers_economic_growth_neighbouring_countries_matter_sabah_sarawak_baharom.PDF.jpg
  • Journal Article


  • Authors: Habibullah, Muzafar Shah; Awang Marikan, Dayang Affizzah; Puah, Chin Hong; Abdul Hamid, Baharom (2013)

  • The objective of the present paper is to address the question whether the economic development of the neighbouring countries, states or provinces have impacted the states of Sabah and Sarawak or vice versa. Using annual data for the period 1968 to 2003, results indicate that the growth of the state of Sarawak is affected by the growth of Brunei Darussalam, Sabah, West Kalimantan and East Kalimantan and the economy of Sabah is affected by the economies of Brunei, Sarawak and East Kalimantan.

  • social_capital_co2_emission_output_relations_panel_analysis_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Siong, Hook Law (2014)

  • The present paper examines the mitigating effect of social capital on the environmental Kuznets curve (EKC) for CO2 emissions using a panel data of 69 developed and developing countries. Adopting generalised method of moments (GMM) estimators, the paper finds evidence substantiating the presence of EKC. Moreover, the evidence suggests that the pollution costs of economic development tend to be lower in countries with higher social capital reservoir. Surprisingly, there is also evidence to indicate that the income threshold point beyond which CO2 emissions decline is higher in countries with higher social capital. These results are robust to addition of alternative controlled variables...

  • stock_market_development_macroeconomic_performance_thailand_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2011)

  • Rapid development of financial markets particularly stock markets has been a main feature of many emerging markets. The conventionally held view, which has a basis in the seminal work of Schumpeter (1911), is that the stock market development is beneficial to the economy since it provides liquidity and an avenue for risk sharing and diversification, allows efficient allocation of resources to productive investment, reduces information and transaction costs and, consequently allows firms to undertake profitable investments. This view has been supported by various early empirical studies noting a positive relation between stock market development and economic growth. It has also been su...

  • systematic_risk_time_scales_new_evidence_from_application_wavelet_approach_emerging_gulf_stock_markets_masih_etal.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Alzahrani, Mohammed; Al-Titi, Omar (2010-01-01)

  • The paper is the first attempt to estimate systematic risk ‘beta’ at different time scales in the context of the emerging Gulf Cooperation Council (GCC) equity markets by applying a relatively new approach in finance known as wavelet analysis. Our results indicate that on average beta coefficients in all GCC countries show a multiscale tendency. This is consistent with our theoretical expectation that stock market investors have different time horizons due to different trading strategies and that is also reflective of the characteristics of the GCC markets in particular in that they are less developed, less liquid, involve more transaction costs, highly dependent on individual investo...

  • Tax_evasion_tax_burden_and_economic_development_in_Asean_5_baharom.pdf.jpg
  • Journal Article


  • Authors: Din, Badariah H.; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2018)

  • Tax evasion is a crime. Recent estimates registered the loss of tax revenue amounting to USD3.1 trillion or 5.1% of world's GDP. Tax revenue losses have negative consequences to the government ability to fuelled economic growth by providing enough public infrastructure and other services. In this study we have estimated the share of shadow economy to the official economy for five ASEAN economies, namely; Indonesia, Malaysia, the Philippines, Singapore and Thailand for the period 1980-2013 using the MIMIC model. The indexes of the shadow economy from the MIMIC model were then used to calculate the loss in tax revenue as a result of the presence of the shadow economy. We then test the h...

  • technical_efficiency_manufactured_rubber_product_malaysia_stochastic_frontier_analysis_baharom.pdf.jpg
  • Journal Article


  • Authors: Radam, Alias; Ahali, Noor Maliza; Abdul Hamid, Baharom (2012)

  • This paper investigates the technical efficiencies of rubber product manufacturing industry in Malaysia. We employed Stochastic Frontier Analysis (SFA). Secondary data from 313 firms that manufacture rubber product was obtained from the Annual Survey Of Manufacturing Industries 2004 by Department of Statistics Malaysia. Variables that are included in this are such as capital (RM), labor, and energy. Results clearly show that the mean technical efficiency of manufactured rubber product industry in Malaysia is 0.70328 or 70.33 percent. Majority of the firms are also fairly efficient in the use of available resources. Some technical assistance such as training programs for the proprietor...

  • testing_service-led_investment-led_hypothesis_evidence_chindia_baharom.pdf.jpg
  • Journal Article


  • Authors: Abdul Hamid, Baharom; Habibullah, Muzafar Shah; R. C., Royfaizal (2009-03-01)

  • This study examines the meaningful relationship between economic growth, and service sector contribution and domestic investment in two major Asian economies, namely India and China. Autoregressive Distributed Lag (ARDL) bounds testing procedure is employed to analyze the impact of the selected variables namely (1) contribution by the service sector, (2) (4) domestic investment on economic growth and vice versa. The period of interest is 1960-2005 using annual data. The empirical results demonstrate that for the case of India, there is (1) a unidirectional causality from domestic investment to economic growth and (2) from economic growth to services. As for China, only unidirectional ...

  • tests_different_variants_monetary_model_developing_economy_malaysian_experience_pre-_post-crisis_periods_mansur.pdf.jpg
  • Journal Article


  • Authors: Lee, Chin; Azali, M.; Mohammed Masih, Abul Mansur (2009)

  • This study examines the validity of four different variants of the monetary model of exchange rate determination for Malaysia covering both the preand post-crisis periods using the vector error-correction models. The findings demonstrate that for both periods, the variables used are cointegrated. Tests tend to suggest that of the four variants of monetary model, the sticky-price model holds in both periods and the flexible-price model holds only in the post-crisis period. The proportionality between the exchange rate and relative money does not hold in any period. The plotted actual and fitted exchange rates for both sub-samples show that the models are able to track the actual exchan...

  • behaviour_ MENA_oil_non_oil_producing_countries _international_portfolio_optimization_shamser.pdf.jpg
  • Journal Article


  • Authors: Mansourfar, Gholamreza; Ramadili Mohd, Shamsher Mohamad; Hassan, Taufiq (2010)

  • It is well documented in developed economies that portfolio investment across national borders brings benefits of increasing returns and/or reducing risk. Dividing MENA stock markets into two main groups (oil producing and non-oil producing countries), this study examines the potential role of each group in providing diversification benefits for international investors. In addition, the behavior of the long and the short-run Efficient Frontiers (EFs) constructed by each of the sub-groups and the combined MENA markets is explored. Multi-objective international portfolio models are proposed under Mean-Variance and Mean-Lower Partial Moment frameworks, and the Multiple Fitness Function G...