Using a panel cointegration approach, this study examines the relationship between aggregate consumption and GDP in colonial Malaya (1900–39) and post-independence Malaysia (1970–2009). The findings suggest that private consumption and GDP are cointegrated across the two forty-year periods,...

This paper examines the relationship between stock market and monetary policy. It is noted that the empirical results show that the returns of Dow Jones are leading "causing" variable to the domestic stock market. Exchange rate also plays a significant part, implying to a large extent the high...

This paper examines the notion of sustainability of current account deficit using the consumption smoothing approach model. Empirical evidences suggest that the current account deficits in Indonesia, Malaysia and the Philippines can be explained by the model. Results also show that prior to the...

The objectives of this project are: to investigate determinant factors influencing the real exchange rate fluctuations; to measure the real exchange rate deviation from the equilibrium; and to provide some guidance for policymakers in implementing exchange rate policy. For the empirical study,...