Shaari, Mohd Shahidan
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An Empirical Study of The Linkage Between Education and National Output in Malaysia Chan, Amierul Asraf Muhammad Amir; Zainol Abidin, Noorazeela; Shaari, Mohd Shahidan
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 21, No 2 (2020): JEP 2020
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v21i2.11391

Abstract

This study embarks on an investigation into the linkage between education and national output in Malaysia. Annual time series data on real gross domestic product (GDP), expenditure on education, fixed  capital  formation  and  labour  force  were  collected  from  1985  to  2018  and  the  Autoregressive Distributed-Lag (ARDL) method is applied in this study. The results of this study reveals that capital formation and education can cause higher national output in the long run. However, labour force does not have any connection with national output in the long run. Besides, the results also show short-run relationships. It is found that only capital formation has an influence national output in the short run but labour force and education do not have any effect on national output in Malaysia. Therefore, the government needs to increase its expenditure on education to boost national output. Other than that, the government must take other initiatives to increase expenditure on education.
Reassessing Attention to Fintech: Spillover Effects on Conventional and Islamic Financial Stocks Ridzuan, Abdul Rahim; Izadin, Ahmad Al Izham; Loang, Ooi Kok; Shaari, Mohd Shahidan; Candra, Sevenpri
Journal of Islamic Monetary Economics and Finance Vol. 12 No. 1 (2026)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v12i1.3300

Abstract

This study applies an integrated Quantile Vector Autoregression and Quantile Regression to examine spillover dynamics in the FinTech context. By analysing the period from 2019 to 2024, which includes significant events such as the COVID-19 pandemic, the 2023 banking crisis, and notable regulatory developments, the study captures nonlinear and asymmetric relationships between FinTech attention (ATFIN), FinTech stock performance (FINTS), and financial stock returns, for both conventional (FINS) and Islamic (IFINS) stocks. The findings suggest that ATFIN tends to respond to market movements during normal and bearish conditions, while it becomes a net transmitter during bullish periods, amplifying investor sentiment and speculative activity. Conventional financial stocks consistently emerge as strong transmitters of market spillovers, whereas Islamic financial stocks function mainly as receivers, especially during market upswings, indicating their potential role as a stabilizing force. These results contribute to the literature on behavioural finance and financial contagion by highlighting the asymmetric behaviour of FinTech attention across market regimes. The study also offers practical implications for regulators and institutional investors. Monitoring ATFIN may help identify speculative trends, while Islamic FinTech models could appeal to more risk-averse investment profiles.