Financial Vulnerability and Economic Dynamics in Malaysia

Kuek, Tai-Hock; Puah, Chin‐Hong; Arip, Mohammad Affendy

doi:10.2478/jcbtp-2020-0023

Cited by 5 publications

(3 citation statements)

References 90 publications

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“…Apart from tourism studies (Agyeiwaah, McKercher, & Suntikul, 2017;Font et al, 2021;Ivars-Baidal, Vera-Rebollo, Perles-Ribes, Femenia-Serra, & Celdrán-Bernabeu, 2021;Soh, Puah, & Arip, 2020) the composite indicator approach was popularized in the business (El Gibari, Gómez, & Ruiz, 2019;Karakostas, 2022) and in the financial context (Kuek, Puah, & Arip, 2020). The TSCI distinguishes six tourism sustainable competitiveness dimensions, thereby enabling specific and comparative analysis among the ASEAN member countries.…”

Section: Literature Reviewmentioning

confidence: 99%

Tourism sustainable competitiveness indicator for ASEAN bloc: A random forest approach

Soh

Puah

Arip

2023

IJAEFA

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This study aims to reveal the tourism performance among ASEAN countries by creating a tourism sustainable competitiveness indicator (TSCI). This study introduces an ensemble random forest approach in developing an integrative framework that incorporates tourism, sustainability and competitiveness. It demonstrates the management of multi-faceted tourism development with the constructed indicator. Six main enablers have been identified for TSCI indicator, including policy and regulatory environment, environmental sustainability, socio-cultural sustainability, economic sustainability, infrastructure, and intellectual capital and innovation. As a benchmarking tool for policymakers, organisations, and tourism-related authorities in the implementation of policies and business or marketing strategic planning, the sustainable competitiveness indicator for tourism identified the factors that affect the sustainability and competitiveness of tourism. This indicator enhances the tourism value chains in the Association of Southeast Asian Nations (ASEAN) bloc, as well as it offers significant assistance to the ASEAN Tourism Strategic Plan of 2025. Especially in the context of regionalization, which proceeds along the same trajectory as tourism, it is becoming increasingly significant in building areas of cooperation in the connected Southeast Asian region. Thus, measuring the performance level of the tourism economy is a critical agenda that is worthy of receiving concern as a means of accomplishing sustainable development goals (SDGs).

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Section: Literature Reviewmentioning

confidence: 99%

Tourism sustainable competitiveness indicator for ASEAN bloc: A random forest approach

Soh

Puah

Arip

2023

IJAEFA

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“…The vulnerability index reflects the vulnerability of households to changes in savings, income expenditures, and loans (Anderloni, Bacchiocchi and Vandone, 2012). Monitoring the financial vulnerability by the vulnerability index captures the macroeconomic, financial and property shocks (Acharya, Bhadury and Surti, 2020;Kuek, Puah and Arip, 2020). Some financial authorities (Financial Conduct Authority in the United Kingdom and Consumer Financial Protection Bureau in the United States) have collected data about the risk factors characterising financial vulnerability, including a description of psychological characteristics such as money management skills and financial self-efficacy as principal factors of financial vulnerability (Hoffmann and McNair, 2018).…”

Section: Literature Reviewmentioning

confidence: 99%

The Relationship between Household Wealth and Financial Vulnerability in the Post-communist Countries of the Euro Area

Buleca¹,

šubová²,

Maličká³

2022

ekoncas

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The paper investigates the relationship between household wealth and financial vulnerability in the euro area member countries using data from the European Union Household Finance and Consumption Survey (HFCS). The instrumental variable regression model based on the two-stage least square method was used to elicit the role of household financial vulnerability in wealth accumulation. To consider different historical development and implementing social policies, the analysis considers the household location (post-communist countries according to the Warsaw Treaty and other European countries with a core in Western Europe). The analysis results emphasise the positive relationship between households' wealth accumulation and financial vulnerability represented by household indebtedness. Additional variables reflecting the households' socio-economic and demographic characteristics are statistically significant, too. Debt service-to-income ratio, statuses of employment (employed and self-employed), and age of the reference person squared were driving forces of wealth accumulation, while age of the reference person, number of dependent children, employment status (retired, other), and geographical location lower the level of household wealth.

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“…During an unstable period, the widening credit spread is associated with unfavorable economic conditions and negatively affects corporate bond issuance, but positively affects lending. Kuek et al (2020) develop a Financial Vulnerability Index (FVI) for Malaysia using a composite indicator that comprises ten macroeconomic variables. They construct a two-state coefficient MSBVAR model that incorporates four variables: the FVI, the growth of industrial production (IPI), inflation rate, and the change in the short-term interest rate (represented by the 3-month KLIBOR).…”

Section: Introductionmentioning

confidence: 99%

Indonesia’s Financial Stress Events and Macroeconomic Dynamics

Safuan

Sugandi

Azis

et al. 2022

bemp

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In this study, we use a Markov-Switching Bayesian Vector AutoRegression model to investigate the episodic relationship between financial stress and the key macroeconomic variables in the case of Indonesia. We find different nature of relationships among Indonesia’s real sector variables (household consumption expenditure and consumer price index), financial sector variables (interbank money market rate) and the policy variable (broad money supply during the times of high and low financial stress). Regime changes occurred on several occasions, including during the 2008 global financial crisis period and at the beginning of the COVID-19 pandemic.

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Financial Vulnerability and Economic Dynamics in Malaysia

Cited by 5 publications

References 90 publications

Tourism sustainable competitiveness indicator for ASEAN bloc: A random forest approach

Tourism sustainable competitiveness indicator for ASEAN bloc: A random forest approach

The Relationship between Household Wealth and Financial Vulnerability in the Post-communist Countries of the Euro Area

Indonesia’s Financial Stress Events and Macroeconomic Dynamics

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