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ID: 098054

Causal relation between life insurance funds and economic growt: evidence form Malaysia / Ching, Kok Sook; Kogid, Mori; Furuoka, Fumitaka

Furuoka, Fumitaka	Journal Article
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Publication

2010.

Key Words

Malaysia ; Economic Growth ; Causality ; Cointegration ; Life Insurance ; Insurance Funds

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ID: 090599

Inflation and economic growth in Malaysia: a threshold regression approach / Munir, Qaiser; Mansur, Kasim; Furuoka, Fumitaka

Furuoka, Fumitaka	Journal Article
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Publication

2009.

Summary/Abstract

This paper examines the issue of the existence of threshold effects in the relationship between inflation rate and growth rate of GDP in the context of Malaysia, using new endogenous threshold autoregressive (TAR) models proposed by Hansen (2000) for estimation and inference. The empirical analysis uses annual data from Malaysia for the period 1970-2005. A specific question addressed in this study was: What is the threshold inflation rate for Malaysia? The findings clearly suggest that one inflation threshold value (i.e., structural break point) exists for Malaysia; and this implies a non-linear relationship between inflation and growth. The estimated threshold regression model suggests 3.89 per cent as the threshold value of inflation rate above which inflation significantly retards growth rate of GDP. In addition, below the threshold level, there is a statistically significant positive relationship between inflation rate and growth. If Bank Negara (Central Bank of Malaysia) pays more attention to the inflation phenomena, then substantial gains can be achieved in low-inflation environment while conducting the new monetary policy.

Key Words

Malaysia - Economic Condition ; Malaysia - Economic Policy ; Inflation Rate ; Economic Growth - Malaysia ; Threshold Model - Malaysia ; Structural Break - Malaysia ;
Inflation - Malaysia

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ID: 143604

Military expenditure and economic development in China: an empirical inquiry / Furuoka, Fumitaka; Oishi, Mikio ; Karim, Mohd Aminul

Karim, Mohd Aminul	Article
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Summary/Abstract

Increases in military spending have a big impact on the socioeconomic conditions in any country. However, there is no consensus as to whether the rising military expenditure is beneficial or detrimental to economic growth. The present study chose China as a case study to empirically examine a complex relationship between military expenditure and economic development. The findings from the Johansen cointegration test indicated that there existed a long-run relationship between China’s military spending and economic growth. Furthermore, the Granger causality test detected a unidirectional causality from economic development to military expenditure. These results were further confirmed by the findings from the impulse response function. This means that China represents an example of a developing economy where the size of military expenditure expands in the process of economic transformation.

Key Words

Economic Development ; Military Expenditure ; China ; O53 ; O1 ; F52

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ID: 069307

Relationship between population and economic growth in Asian ec / Tsen, Wong Hock; Furuoka, Fumitaka

Tsen, Wong Hock	Journal Article
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Publication

2005.

Key Words

ASEAN ; Economy ; Economic Growth ; Asian Economic

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