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Long-Term Growth in Malaysia: AN Application of Endogenous Neoclassical Growth Model
Jurnal Ekonomi Malaysia
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| Title |
Long-Term Growth in Malaysia: AN Application of Endogenous Neoclassical Growth Model
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| Creator |
Ismail, Rahmah
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| Subject |
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| Description |
The neoclassical growth model shows that the growth of output is not determined by the saving rate, but it is constrained by the rate of growth of the labour force. Therefore, in order to increase the output growth higher than that of the labour force, factors other than the saving rate like technology and labour productivity must be improved. This article attempts to test this model in the Malaysia's growth experience using data of 1970-1996. The finding from this study shows that the Malaysia's experience is in accordance neoclassical growth model postulation that is saving rate does not significantly determine the rate f output growth. Instead, it is determined by the growth of expory, population and government expenditure on education. However, level of saving is crucial in determining level of output.ABSTRAKModel pertumbuhan neoklasik menunjukkan kadar pertumbuhan output tidak dipengaruhi oleh kadar tabungan, sebaliknya dibatasi oleh kadar pertumbuhan tenaga kerja. Oleh itu, bagi meningkatkan kadar pertumbuhan ekonomu melebihi kadar tabungan seperti tingkat teknologi dan produktiviti buruh perlu diperbaiki. Artikel ini cuba menguji sejauh mana pendekatan model neoklasik ini benar dalam kes pertumbuhan ekonomi Malaysia dengan menggunakan data tahun 1970-1996. Hasil kajian ini menyoklong model neoklasik iaitu kadar tabungan tidak mempengaruhi kadar pertumbuhan ekonomi. Sebaliknua kadar pertumbuhan ekonomi Malaysia dipengaruhi oleh kadar pertumbuhan eksport, kadar pertumbuhan penduduk dan perbelanjaan kerajaan ke atas pendidikan. Walaubagaimanapun tingkat tabungan penting dalma mempengaruhi tingkat output.
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| Publisher |
Universiti Kebangsaan Malaysia
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| Contributor |
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| Date |
1999-12-31
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article — |
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| Format |
application/pdf
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| Identifier |
http://ejournal.ukm.my/jem/article/view/2704
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| Source |
Jurnal Ekonomi Malaysia; Vol 33 (1999): Jurnal Ekonomi Malaysia
0126-1962 |
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| Language |
eng
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| Relation |
http://ejournal.ukm.my/jem/article/view/2704/1772
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