Download or read book Monetary Influence on Malaysian Economic Activity written by Randall C. Merris and published by . This book was released on 1986 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Crises in Malaysia written by Samuel Bassey Okposin and published by . This book was released on 2000 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study identifies the various economic crises that has plagued Malaysia since 1957. Besides examining theorectical debates and causes of each of these crises, it also discusses the economic impact of each of these crises in relation to the economy and looks at the policy measure adopted for each crisis.
Download or read book Monetary Influences on Malaysian Economic Activity written by Randall C. Merris and published by . This book was released on 1986 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Assessment of Malaysian Monetary Policy During the Global Financial Crisis of 2008 09 written by Mr.Harun Alp and published by International Monetary Fund. This book was released on 2012-01-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malaysia was hit hard by the global financial crisis of 2008-09. Anticipating the downturn that would follow the episode of extreme financial turbulence, Bank Negara Malaysia (BNM) let the exchange rate depreciate as capital flowed out, and preemptively cut the policy rate by 150 basis points. Against this backdrop, this paper tries to quantify how much deeper the recession would have been without the BNM's monetary policy response. Taking the most intense year of the crisis as our baseline (2008:Q4-2009:Q3), counterfactual simulations indicate that rather the actual outcome of a -2.9 percent contraction, growth would have been -3.4 percent if the BNM had not implemented countercyclical and discretionary interest rate cuts. Furthermore, had a fixed exchange rate regime been in place, simulations indicate that output would have contracted by -5.5 percent over the same four-quarter period. In other words, exchange rate flexibility and the interest rate cuts implemented by the BNM helped substantially soften the impact of the global financial crisis on the Malaysian economy. These counterfactual experiments are based on a structural model estimated using Malaysian data.
Download or read book The Growth and Stabilization Properties of Fiscal Policy in Malaysia written by Mr.Sohrab Rafiq and published by International Monetary Fund. This book was released on 2013-06-19 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the size of the fiscal multiplier values generated in Malaysia. The results show that a government spending shock leads to broad positive economic effects. Although, the effectiveness of fiscal policy alters across macroeconomic states. The estimates show that since the Asian financial crisis the medium- and long-run effect of fiscal policy spending has declined. Some of this is down to greater credit availability and less investment spending.
Download or read book Financial Development and Economic Growth in Malaysia written by James B. Ang and published by Routledge. This book was released on 2008-11-25 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is concerned with the role of financial intermediation in economic development and growth in the context of Malaysia. Using an analytical framework, the author investigates the Malaysian economy from 1960 onwards to examine how far financial development has progressed in the course of economic development, and whether it has been instrumental in promoting economic growth. A significant improvement in the Malaysian financial system, coupled with rapid economic growth and a rich history of financial sector reforms, makes Malaysia an interesting case study for this subject. The author shows that some government interventions seem to have impacted negatively on economic growth, whereas repressionist financial policies such as interest rate controls, high reserve requirements and directed credit programmes seem to have contributed positively to financial development. The analysis concludes that financial development leads to higher output growth via promoting private saving and private investment. Shedding light on the evolutionary role of financial system and the interacting mechanisms between financial development and economic growth, this book will be of interest to those interested in economic and financial development, financial liberalization, saving behaviour and investment analysis and Asian Studies.
Download or read book Currency Turmoil and the Malaysian Economy written by and published by . This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Evaluating the Malaysian Economy 2009 2018 Growth Development and Policies UUM Press written by Irwan Shah Zainal Abidin and published by UUM Press. This book was released on 2020-03-01 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malaysia was once on the cusp of becoming one of the ‘Asian Tigers’ as a result of the impressively high growth rates recorded in the early 1990s. From 1990 until 1997, the growth rate was above 9 percent per annum on average. This performance came to an end when the economy was struck by the 1997/98 Asian Financial Crisis, the worst economic crisis Malaysia has ever experienced since independence. Things eventually worsened with the onslaught of the 2008/09 Global Financial Crisis, which dragged the Malaysian economy yet into another round of a recession with the growth rate contracting at 1.5 percent in 2009. On hindsight, these two events, which have had a substantial impact on the state of the Malaysian economy, pointed to several urgent calls for economic reforms, such as the need to address structural weaknesses of the economy and to have a growth target which is both sustainable as well as inclusive. When Datuk Seri Najib Razak became the sixth Prime Minister of Malaysia from April 2009 until May 2018, it was clear that a new approach to economic development for Malaysia had to be crafted. Towards this end, he introduced the National Transformation Policy (NTP), so that the economy can be transformed into one that is of high-income and developed status by the year 2020. He also set a new vision for Malaysia, also known as the 2050 National Transformation, or TN50, which is meant to chart a new course for Malaysia to move into the second half of the 21st century. How successful is this transformational agenda? What are the other issues and challenges which need to be addressed? What important lessons can we learn from this transformational journey? This book is an attempt to address these specific questions by assessing Najib’s economic plans, policies, programmes and vision which evolved during the nine years of his term as the sixth Prime Minister of Malaysia.
Download or read book The Distributional Consequences of Monetary Policy written by Ilker Domaç and published by World Bank Publications. This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers in Malaysia should weigh the distributional consequences of policy actions. They should also consider measures to alleviate the disproportionate impact that market imperfections have on small and medium-size industries.
Download or read book Financial Development and Economic Growth in Malaysia written by James B. Ang and published by Routledge. This book was released on 2008-11-25 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds new light on the evolutionary role of financial system and the interacting mechanisms between financial development and economic growth in the context of Malaysia.
Download or read book Money Influence on Malaysian Economic Activities written by Randall C. Merris and published by . This book was released on 1986 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Issues and Challenges in the Malaysian Economy written by Mohd Fahmee Ab Hamid and published by Emerald Group Publishing. This book was released on 2019-11-06 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on Malaysia's shifting economic profile and position, this book offers new insights and perspectives to scholars and researchers on a range of new developments impacting on growth, such as the effects of the digital economy on job creation and the threats of environmental degradation and trade protectionism.
Download or read book An Economic History of Malaysia c 1800 1990 written by John Drabble and published by Springer. This book was released on 2000-05-15 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Economic History of Malaysia, c.1800-1990 , provides the first general history of the Malaysian economy over the past two centuries, including a survey of the pre-colonial era. A unique feature is that it integrates the historical experiences of Peninsular Malaysia, Sabah and Sarawak as a case study in the onset of modern economic growth. Particular attention is paid to explaining Malaysia's signal success in achieving a relatively smooth shift away from the primary commodity export economy of the colonial period to near-NIC status by 1990.
Download or read book Econometric Analysis of Malaysian Monetary Policy written by Mala Raghavan and published by . This book was released on 2010 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the years, many economies around the world have evolved in line with globalization and liberalization processes and have witnessed widespread changes in their conduct of monetary policy and the choice of monetary policy regimes. These processes have opened up new avenues and increased opportunities for financial market developments with greater financial integration and strong capital flows. The changing economic and financial environments have made modelling monetary policy and the identification of monetary policy shocks very challenging, particularly in small emerging open economies. To date, not much research work has been carried out on these economies, and this thesis attempts to fill this gap by addressing the problems associated with modelling monetary policy and the complexities involved in estimating monetary policy shocks and impulse response functions.In this thesis, we investigate the monetary transmission mechanism of the Malaysian economy, which provides an interesting case study to examine the effects of monetary policy on the real sectors of the economy under different exchange rate regimes. Malaysia adopted a managed float exchange rate regime prior to the 1997 Asian financial crisis and subsequently a pegged (to US dollar) exchange rate regime following the crisis. The specific aims of this research are: (i) To establish the necessary identification conditions to uncover Malaysian monetary policy shocks; (ii) To examine whether or not the identified model can resolve economic puzzles commonly found in monetary policy empirical literature; (iii) To evaluate the effectiveness of monetary policies on price levels and economic activities during the pre- and post-1997 Asian financial crisis periods; and (iv) To assess the strength of various monetary transmission channels such as interest rates, monetary aggregates, credits, asset prices and exchange rates in propagating monetary policy shocks under different exchange rate regimes.To achieve the above aims, we employ three different modelling strategies: (i) the vector autoregressive (VAR); (ii) the structural vector autoregressive (SVAR); and (iii) the vector autoregressive moving average (VARMA) models. The traditional VAR approach is used as a first step to conduct some preliminary analysis, and to develop and analyze the effects of Malaysian monetary policy. Subsequently, the SVAR models are used to address issues concerning the contemporaneous relationships between Malaysian macroeconomic variables and policy instruments. We establish identification restrictions that are broadly consistent with economic theory and stylized facts that are evident in prior empirical research findings. One of the important characteristics of our identified SVAR model is the set of foreign block exogeneity restrictions which we impose to reflect the fact that small open economies do not influence large economies. Further, under the managed and pegged exchange rate systems, we uncover the importance of various monetary channels through which monetary policy shocks affect the Malaysian economy.The VARMA models are found to be superior to the VAR-type models for forecasting economic and financial variables. However, VARMA models are rarely used in empirical studies of monetary policy analysis. We are among the first to apply this methodology to investigate the responses of Malaysian variables to various monetary shocks and to assess whether they are consistent with prior theoretical expectations and stylized facts. The attractiveness of the VARMA model is that its impulse response functions reveal the expected monetary policy effects on the Malaysian economy, particularly in the postcrisis period under the pegged exchange rate system. On the other hand, the VAR and SVAR models fail to generate reliable impulse responses in some cases.The overall results suggest that the crisis, and a subsequent major shift in the exchange rate regime, have affected the Malaysian monetary transmission mechanism. Malaysian domestic variables are more sensitive and volatile to both domestic and foreign monetary shocks under the managed float exchange rate system than under the fixed exchange rate system. Hence, it is apparent that the stringent capital control measures undertaken by the government in the post-crisis period have insulated the Malaysian economy to some extent against foreign shocks and have provided the desired monetary autonomy. Considering some disparities in the effects of monetary policy on the Malaysian economy during the pre- and post-crisis periods, it is essential that policy makers understand how the economic transformation, the openness of the economy and the growing integration with external economies affects the nature of the monetary transmission mechanism. Inour investigations, we uncover how various transmission channels work and we believe the outcome of our study can help the Malaysian Central Bank to steer the economy in the right direction, so that monetary policy can still remain an effective policy measure in achieving sustainable economic growth and price stability. In addition, the methodologies used in this thesis and the empirical findings will also enhance future research on similar small emerging open economies in devising appropriate monetary policy strategies under different policy regimes.
Download or read book Malaysian Eclipse written by Jomo Kwame Sundaram and published by Palgrave MacMillan. This book was released on 2001 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text examines the Malaysian economic crisis of 1997-98. It deals with both the roots of the crisis and the recovery process and also gives an account of what went wrong with one of Asia's most dynamic economies.
Download or read book The Influence of Monetary and Fiscal Policies on Economic Activity written by San Yee Liew and published by . This book was released on 1995 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Malaysia written by Mr.Yougesh Khatri and published by International Monetary Fund. This book was released on 2001-08-27 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses how Malaysia can better protect itself from future shocks and avoid another crisis while it seeks to regain its position as one of the fastest growing economies in the world. To these ends, its strategy should include continued structural reforms to achieve healthy balance sheets of the banking and corporate sectors; further deregulation to promote competition and efficiency; and consistent macroeconomic policies to maintain financial stability and sustainable fiscal and external positions. Malaysia's economic structure and performance were relatively strong prior to the crisis. Malaysia’s initial low level of short-term external debt enabled it to maintain foreign reserves at a reasonably high level, and this contributed to relatively robust external and domestic confidence early on in the crisis. As a consequence of financial vigilance exercised through prudential regulation of capital movements, the exposure of the financial and corporate systems was contained. Stock market capitalization in Malaysia grew to an extremely high level prior to the crisis, reflecting both the fast expansion of the capital market and liberal capital account regime.
