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Using P-Star Model to Linking Money and Prices in A Financial Liberalised Developing Economy: The Case for Malaysia
Jurnal Ekonomi Malaysia
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| Title |
Using P-Star Model to Linking Money and Prices in A Financial Liberalised Developing Economy: The Case for Malaysia
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| Creator |
Habibullah, Muzafar Shah
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| Description |
The P-Star approach of modelling inflation proposed by Hallman et. al. has been widely tested in the United States and other developed countries. The applicability of the P-Star model for the developing countries is yet to be determined. The main purpose of the present study is to add to the current literature on the robustness of the P-Star model with respect to a developing country - Malaysia. Using a sanple period from 1981: 1 to 1994:4, our result suggest that Malaysian monetary data support the P-Star model. We conclude that there is a close relationship between money and the proce level in Malaysia despite the occurences of financial liberalisation in the 1980s and 1990s.ABSTRAKKaedah 'P-Star' yang diutarakan oleh Hallman et al. untuk membentuk inflasi meluas digunakan di Amerika Syarikat dan negara-negara maju yang lain. Walaubagaimanapun, epnggunaan model ini terhadap negara-negara membangun amatlah kurang sekali. Justeru itu, tujuan utama kertas kerja ini adalah untuk mengkaji kesesuaian model 'P-Star' ini terhadap data negara membangun seperti Malaysia dengan menggunakan data siri masa suku tahunan daripada 1981:1 hingga 1994:4. Keputusan kajian mencadangkan bahawa data kewangan MAlaysia menyokong penggunaan model 'P-Star'. Kesimpulan kajian menunjukkan terdapat hubngan yang rapat antara penawaran wang dengan tingkat harga walau pun berlaku liberalisasi kewangan dalam tahun 1980-an dan 1990-an di Malaysia.
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| Publisher |
Universiti Kebangsaan Malaysia
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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/2705
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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/2705/1773
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