Browsing by Topic Conventional finance

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Showing results 21 to 30 of 265
  • bank_lending_macroeconomic_conditions_financial_uncertainty_evidence_malaysia_eskandar_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Mohd Rasid, Mohamed Eskandar Shah (2012)

  • In this paper, we examine the interrelations between bank lending, macroeconomic conditions and financial uncertainty for an emerging economy, Malaysia. Adopting time series techniques of cointegration, causality and vector autoregressions (VARs), we arrive at the following main results. We note long run positive relations between real output and both real bank credits and real stock prices. However, with slow adjustment of real output in responses to credit expansion or stock price increase and weak exogeneity of the latter two variables, both credits and stock prices can be persistently higher than their fundamental values. The phenomenon can be detrimental since it heightens market...

  • banking_liquidity_and_stock_market_prices_three_countries_in_ASEAN_tin_ariff_shamsher.pdf.jpg
  • Journal Article


  • Authors: Tin-fah, Chung; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • This paper reports evidence of a banking liquidity impact on stock prices in the three Asean countries. Banking liquidity impacts suggested by Friedman is yet to be fully investigated nor verified despite several attempts. If improved liquidity of banks leads to credit expansion, which in turn leads to more positive net present value projects undertaken by firms, earnings of the latter must go up, and hence the share prices should rise. This link is worth an investigation. According to an influential of the US stock market, up to 52% of share returns are due to changes in the macro economy. Using a 3-equation structural model as well as employing corrections for cross-section dependen...

  • item.jpg
  • Journal Article


  • Authors: V. Rasiah, R. Ratneswary; Abdul Hamid, Baharom; Ow, Wilson Chee Seong; Habibullah, Muzafar Shah (2012)

  • This study uses time-series analysis to investigate the long-run relationships and short-run dynamic interactions between beer consumption and the independent variables of income level (Gross Domestic Product per capita), wealth (proxied by money supply, M2) and total exports in Malaysia over the period 1961 to 2009. The study applies the multivariate cointegration methodology to establish the possible causal relations between these variables. The cointegration test and the vector error correction model demonstrate the evidence of a positive long-run relationship between beer consumption and the income level while wealth and exports have a negative impact on beer consumption in Malays...

  • bivariate_multivariate_tests_money–price_causality_mansur_masih.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Masih, Rumi (1997)

  • This paper is an attempt at re-examining the question of causality between money and prices both in the bivariate and multivariate context of a small developing economy, based on an improved methodology. Pakistan is used as a case study. The study tends to suggest rather strongly that in the case of Pakistan during the period under consideration (1970/71 to 1993/94), contrary to earlier findings, it was price that was the leading variable as the structuralist maintain and not the other way around as the monetarist maintain

  • Bonds_with_index_linked_stochastic_coupons_in_quantum_finance_belal.pdf.jpg
  • Journal Article


  • Authors: Baaquie, Belal E. (2018)

  • An index-linked coupon bond is defined that pays coupons whose values are stochastic, depending on a market defined index. This is an asset class distinct from the existing coupon bonds. The index-linked coupon bond is an example of a sukuk, which is an instrument that implements one of the cornerstones of Islamic finance (Askari et al., 2012): that an investor must share in the risk of the issuer in order to earn profits from the investment. The index-linked coupon bond is defined using the mathematical framework of quantum finance (Baaquie, 2004, 2010). The coupons are stochastic, with the quantum of coupon payments depending on a publicly traded index that is chosen to reflect the ...

  • budget_deficits_Inflation_thirteen_asian_developing_countries_baharom.pdf.jpg
  • Journal Article


  • Authors: Habibullah, Muzafar Shah; Chee, Kok Cheah; Abdul Hamid, Baharom (2011)

  • In this study we attempt to determine the long-run relationship between budget deficit and inflation in thirteen Asian developing countries, namely; Indonesia, Malaysia, the Philippines, Myanmar, Singapore, Thailand, India, South Korea, Pakistan, Sri Lanka, Taiwan, Nepal and Bangladesh. Using annual data for the period 1950-1999 our Granger causality within the error-correction model (ECM) framework suggest that all variables involved (budget deficits, money supply and inflation) are integrated of order one. Our ECM model estimates indicate the existence of a long-run relationship between inflation and budget deficits. Thus, we conclude that budget deficits are inflationary in Asian d...

  • capitalism_morality_and_business_ethics_abbas.JPG.jpg
  • Chapter in Book


  • Authors: Mirakhor, Abbas (2016)

  • In 2012, PM Cameron called for "moral capitalism"; a system based on two pillars: (i) social responsibility of individuals and business; and (ii) inclusion and sharing of the fruits of the economy. Sceptics such as William Bowles termed the call "hypocritical", "empty", "rubbish", and "hot air", as he asked what does moral capitalism really mean? The rich sharing their wealth with the poor? Available in physical copy only (Call Number: HF 5387 M179)

  • causality_between_financial_development_economic_growth_application_vector_error_correction_variance_decomposition_methods_saudi_arabia_masih.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; al-Elg, Ali; Madani, Haider (2007)

  • This article makes an attempt to test the possible directions of causality between financial development and economic growth, which were labelled by Patrick (1966) as the supply-leading and demand-following hypothesis. Saudi Arabia is taken as a case study. The methods applied are the error correction and variance decompositions techniques including the most recently developed ‘long-run structural modelling (LRSM)’ (Pesaran and Shin, 2002), which by imposing exactly identifying and overidentifying restrictions on the cointegrating vector has taken care of a major limitation of the conventional cointegrating estimates in that they were atheoretical in nature. To the best of our knowled...

Browsing by Topic Conventional finance

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 21 to 30 of 265
  • bank_lending_macroeconomic_conditions_financial_uncertainty_evidence_malaysia_eskandar_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Mohd Rasid, Mohamed Eskandar Shah (2012)

  • In this paper, we examine the interrelations between bank lending, macroeconomic conditions and financial uncertainty for an emerging economy, Malaysia. Adopting time series techniques of cointegration, causality and vector autoregressions (VARs), we arrive at the following main results. We note long run positive relations between real output and both real bank credits and real stock prices. However, with slow adjustment of real output in responses to credit expansion or stock price increase and weak exogeneity of the latter two variables, both credits and stock prices can be persistently higher than their fundamental values. The phenomenon can be detrimental since it heightens market...

  • banking_liquidity_and_stock_market_prices_three_countries_in_ASEAN_tin_ariff_shamsher.pdf.jpg
  • Journal Article


  • Authors: Tin-fah, Chung; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • This paper reports evidence of a banking liquidity impact on stock prices in the three Asean countries. Banking liquidity impacts suggested by Friedman is yet to be fully investigated nor verified despite several attempts. If improved liquidity of banks leads to credit expansion, which in turn leads to more positive net present value projects undertaken by firms, earnings of the latter must go up, and hence the share prices should rise. This link is worth an investigation. According to an influential of the US stock market, up to 52% of share returns are due to changes in the macro economy. Using a 3-equation structural model as well as employing corrections for cross-section dependen...

  • item.jpg
  • Journal Article


  • Authors: V. Rasiah, R. Ratneswary; Abdul Hamid, Baharom; Ow, Wilson Chee Seong; Habibullah, Muzafar Shah (2012)

  • This study uses time-series analysis to investigate the long-run relationships and short-run dynamic interactions between beer consumption and the independent variables of income level (Gross Domestic Product per capita), wealth (proxied by money supply, M2) and total exports in Malaysia over the period 1961 to 2009. The study applies the multivariate cointegration methodology to establish the possible causal relations between these variables. The cointegration test and the vector error correction model demonstrate the evidence of a positive long-run relationship between beer consumption and the income level while wealth and exports have a negative impact on beer consumption in Malays...

  • bivariate_multivariate_tests_money–price_causality_mansur_masih.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Masih, Rumi (1997)

  • This paper is an attempt at re-examining the question of causality between money and prices both in the bivariate and multivariate context of a small developing economy, based on an improved methodology. Pakistan is used as a case study. The study tends to suggest rather strongly that in the case of Pakistan during the period under consideration (1970/71 to 1993/94), contrary to earlier findings, it was price that was the leading variable as the structuralist maintain and not the other way around as the monetarist maintain

  • Bonds_with_index_linked_stochastic_coupons_in_quantum_finance_belal.pdf.jpg
  • Journal Article


  • Authors: Baaquie, Belal E. (2018)

  • An index-linked coupon bond is defined that pays coupons whose values are stochastic, depending on a market defined index. This is an asset class distinct from the existing coupon bonds. The index-linked coupon bond is an example of a sukuk, which is an instrument that implements one of the cornerstones of Islamic finance (Askari et al., 2012): that an investor must share in the risk of the issuer in order to earn profits from the investment. The index-linked coupon bond is defined using the mathematical framework of quantum finance (Baaquie, 2004, 2010). The coupons are stochastic, with the quantum of coupon payments depending on a publicly traded index that is chosen to reflect the ...

  • budget_deficits_Inflation_thirteen_asian_developing_countries_baharom.pdf.jpg
  • Journal Article


  • Authors: Habibullah, Muzafar Shah; Chee, Kok Cheah; Abdul Hamid, Baharom (2011)

  • In this study we attempt to determine the long-run relationship between budget deficit and inflation in thirteen Asian developing countries, namely; Indonesia, Malaysia, the Philippines, Myanmar, Singapore, Thailand, India, South Korea, Pakistan, Sri Lanka, Taiwan, Nepal and Bangladesh. Using annual data for the period 1950-1999 our Granger causality within the error-correction model (ECM) framework suggest that all variables involved (budget deficits, money supply and inflation) are integrated of order one. Our ECM model estimates indicate the existence of a long-run relationship between inflation and budget deficits. Thus, we conclude that budget deficits are inflationary in Asian d...

  • capitalism_morality_and_business_ethics_abbas.JPG.jpg
  • Chapter in Book


  • Authors: Mirakhor, Abbas (2016)

  • In 2012, PM Cameron called for "moral capitalism"; a system based on two pillars: (i) social responsibility of individuals and business; and (ii) inclusion and sharing of the fruits of the economy. Sceptics such as William Bowles termed the call "hypocritical", "empty", "rubbish", and "hot air", as he asked what does moral capitalism really mean? The rich sharing their wealth with the poor? Available in physical copy only (Call Number: HF 5387 M179)

  • causality_between_financial_development_economic_growth_application_vector_error_correction_variance_decomposition_methods_saudi_arabia_masih.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; al-Elg, Ali; Madani, Haider (2007)

  • This article makes an attempt to test the possible directions of causality between financial development and economic growth, which were labelled by Patrick (1966) as the supply-leading and demand-following hypothesis. Saudi Arabia is taken as a case study. The methods applied are the error correction and variance decompositions techniques including the most recently developed ‘long-run structural modelling (LRSM)’ (Pesaran and Shin, 2002), which by imposing exactly identifying and overidentifying restrictions on the cointegrating vector has taken care of a major limitation of the conventional cointegrating estimates in that they were atheoretical in nature. To the best of our knowled...