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Research Papers -- Intro

Our staff regularly conducts research on important issues that are related to our mandate. Some of these projects result in working papers, or published as feature articles in our flagship publications, or in peer-reviewed journals.

Research - WP Staff Insights

Working & Research Papers

The papers provide preliminary analysis on topical issues. Any views expressed within are solely those of the authors and do not necessarily reflect the position of BNM.

Year Title Author(s) Publication
2024 Phillips Curve Relation in Pre and Post Covid Malaysia Teo Wing Leong VRF Working Paper
2024 Does the threshold effect of government debt on growth exist for Malaysia? Sugheson Nagarajan, Muhammad Shahir Muttaqin Mohd Fauzi, Helmi Ramlee,and Evan Lau VRF Working Paper
2024 A pseudo-panel analysis of marginal propensity to consume from transfers along the income distribution in Malaysia Jing Lian Suah BNM Working Papers WP1/2024
2023 Measuring Text-Based Sentiments from Monetary Policy Statements Eilyn Chong & Sui-Jade Ho BNM Working Papers WP5/2023
2023 Fiscal Fatigue: A Cross-Country Empirical Analysis Aaron Zhong Fu Goh, & Zi Yun Chow BNM Working Papers WP4/2023
2023 An Empirical Take on the ¡®Plucking¡¯ Model Jing Lian Suah BNM Working Papers WP3/2023
2023 Impact of 2021 Floods on Spending: An Event Study Using Daily State-Level Card Transactions and Mobility Data Jing Lian Suah BNM Working Papers WP2/2023
2023 An Application of the Forecast-Based Interrupted Time Series Methodology to Evaluate Policy Impact Using Daily Data: The Impact of COVID-19 Cash Handouts on Daily Spending Jing Lian Suah BNM Working Papers WP1/2023
2022 Fiscal multiplier in Malaysia: Concept, empirical assessment and policy implication Evan Lau, Maryam Azman, Fahrulradzi Bukhari, & Helmi Ramlee BNM Working Paper (Visiting Research Fellow Programme), 2022
2019 Capital Account Safeguard Measures in the ASEAN Context ASEAN Working Committee on Capital Account Liberalisation Special Paper, April 2019
2017 Logistic Regression Models for Malaysian Housing Loan Default Prediction Foo Lee Kien, Chua Sook Ling, Daniel Chin & Muhamad Kamal Firdaus BNM Working Papers, WP11/2017
2017 Macroeconomic Surveillance of Portfolio Flows and its Real Effects: Malaysia¡¯s Experience Tng Boon Hwa, Mala Raghavan & Teh Tian Huey BNM Working Papers, WP10/2017
2017 Bilateral Export Trade, Outward and Inward FDI: A Dynamic Gravity Model Approach Using Sectoral Data from Malaysia Tham Siew Yean, Goh Soo Khoon, Wong Koi Nyen, & Ahmad Fadhli BNM Working Papers, WP9/2017
2017 Global Commodity Prices, Inflation and Monetary Policy: A Study of Selected Commodity Exporters and Importers Eilyn Chong, Helmi Ramlee & Jay Sern Tan BNM Working Papers, WP8/2017
2015 Implications of Evolving Household Balance Sheets for Private Consumption in Malaysia Dhruva Murugasu, Chang Wen Huei, & Tng Boon Hwa BNM Working Papers, WP7/2015
2015 The Transmission of Financial Stress and Interactions with Monetary Policy Responses in the ASEAN-5 Economies Tng Boon Hwa BNM Working Papers, WP6/2015
2015 Global Commodity Prices and Inflation Dynamics in Malaysia Kue-Peng Chuah, Eilyn Chong & Jay-Sern Tan BNM Working Papers, WP5/2015
2014 Estimating Malaysia¡¯s Output Gap: Have We Closed the Gap? Chuah Lay Lian & Nur Ain Shahrier BNM Working Papers, WP4/2014
2013 Global Monetary Easing: Spillovers and Lines of Defence Wang Sheair Chua, Norhana Endut, Nozlan Khadri, & Wee Haw Sim BNM Working Papers, WP3/2013
2013 The Marginal Propensity to Consume across Household Income Groups Dhruva Murugasu, Ang Jian Wei, & Tng Boon Hwa BNM Working Papers, WP2/2013
2013 External Risks and Macro-Financial Linkages in the ASEAN-5 Economies Tng Boon Hwa BNM Working Papers, WP1/2013
2017 Isu Pemindahan Hak Milik Aset dan Jaminan Prestasi dalam Kontrak Isti?n¨¡?: Analisis Perspektif Fiqah Nur Muhammad Sesth Jemahat and Ahmad bin Khairuddin Shariah Working Papers 3/2017
2017 Syirkah Al-Milk dan Syirkah Al-'Aqd Sebagai Asas kepada Produk Pembiayaan Musy¨¡rakah Mutan¨¡qi?ah: Analisis daripada Perspektif Fiqah Mohd Shahril Mat Rani and Hamzah Kamaruzaman Shariah Working Papers 2/2017
2015 Tasarruf Fuduli as a Mechanism for Ratification of Contract Hamzah Kamaruzaman and Ahmad Arshad Ezhar Shariah Working Papers 1/2015
2017 Better Boards - The Path Towards Stronger Corporate Governance in Financial Institutions Mohammad Khairul Ismail & Atikah Abd Aziz Staff Insights 2017/16
2017 Access to Financing for SMEs: Perception vs. Reality Ahmad Haniff, Lailatul Akma & Samuel Lee Staff Insights 2017/15
2017 Financial Conditions Index for Malaysia Zul-Fadzli Abu Bakar & Iman Badrudin Staff Insights 2017/14
2017 Imbalances in the Property Market Cheah Su Ling, Stefanie Almeida, Muhamad Shukri, & Lim Le Sze Staff Insights 2017/13
2017 Rethinking Investment Incentives Mohd Shazwan Shuhaimen, Nurul Hana Ahmad Ghazali, Kevin Wong Tho Foo, Loke Po Ling & Sarah Syamimi Mohd Suhaimi Staff Insights 2017/12
2017 Central Bank Digital Currency: A Monetary Policy Perspective Nurjannah Ahmat & Sabrina Bashir Staff Insights 2017/11
2017 Access to Financing for SMEs: Perception and Reality Ahmad Haniff, Lailatul Akma & Samuel Lee Staff Insights 2017/10
2017 Liberalisation of Motor Insurance Business: Rewarding Good Risk Management Izian Sherwani Mansor & Afiza Abdullah Staff Insights 2017/8
2017 Outcomes of the Reference Rate Framework: Moving Towards More Efficient and Transparent Practices Chuah Kue Peng & Zul-Fadzli Abu Bakar Staff Insights 2017/7
2017 Factors Affecting Foreign Investors' Bondholding in Malaysia Azizul Sabri Abdullah & Norasyikin Mohamad Razali Staff Insights 2017/6
2017 Global Value Chains and the Drivers of Exports in Malaysia Lim Ming Han & Tng Boon Hwa Staff Insights 2017/5

Research - External Journals

Staff Research Published in Peer-Reviewed Journals
Title Author(s) Publication
Corporate demand for general takaful in Malaysia Hamim Syahrum Ahmad Mokhtar, Izwayu Abdul Aziz & Noraziyah Md Hilal ISRA International Journal of Islamic Finance, Vol. 9, No. 2, 2017, pp. 164-184. DOI 10.1108/IJIF-08-2017-0024
Household credit, growth and inequality in Malaysia: does the type of credit matter? Jiaming Soh, Amanda Chong & Kue-Peng Chuah BIS Papers No. 91, 2017, pp. 39-60
Rich Debt, Poor Debt - Assessing Household Indebtedness and Debt Servicing Capacity Muhamad Shukri Abdul Rani, Siti Hanifah Borhan Nordin, Chin Ching Lau, Sheng Ling Lim & Zhen Shing Siow BIS Papers No 91, 2017, pp. 153-168
Accept or reject? Predicting ideation outcomes through enterprise social media Nik Ahmad Rozaidi, Jennifer L. Gibbs, & Julia Eisenberg SHS Web Conference, 33, 00053, 2017. doi.org/10.1051/shsconf/20173300053.
Surplus-Sharing Practices of Takaful Operators in Malaysia Hamim Syahrum Ahmad Mokhtar, Izwayu Abdul Aziz & Noraziyah Md. Hilal ISRA International Journal of Islamic Finance, Vol. 7, Issue 1, 2015, pp. 99-126.
Determinants of Financial Performance: The Case of General Takaful and Insurance Companies in Malaysia Muhaizam Ismail International Review of Business Research Papers, Vol. 9, No. 6, November 2013. pp. 111¨C130.