Naziruddin Abdullah
Department of Economics, Kulliyyah of Economics and Management Sciences, International Islamic University, Malaysia (IIUM)

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REAL STOCK PRICES AND THE LONG-RUN MONEY DEMAND FUNCTION IN MALAYSIA: Evidence from Error Correction Model Abdullah, Naziruddin; Abd. Majid, M. Shabri
Gadjah Mada International Journal of Business Vol 6, No 2 (2004): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

This study adopts the error correction model to empirically investigate the role of real stock prices in the long run-money demand in the Malaysian financial or money market for the period 1977: Q1-1997: Q2. Specifically, an attempt is made to check whether the real narrow money (M1/P) is cointegrated with the selected variables like industrial production index (IPI), one-year T-Bill rates (TB12), and real stock prices (RSP). If a cointegration between the variables, i.e., the dependent and independent variables, is found to be the case, it may imply that there exists a long-run co-movement among these variables in the Malaysian money market. From the empirical results it is found that the cointegration between money demand and real stock prices (RSP) is positive, implying that in the long run there is a positive association between real stock prices (RSP) and demand for real narrow money (M1/P). The policy implication that can be extracted from this study is that an increase in stock prices is likely to necessitate an expansionary monetary policy to prevent nominal income or inflation target from undershooting.
A Note on the Derivation of the Basic Needs Deficiency Index (BNDI) Abdullah, Naziruddin; Al-Malkawi, Husam-Aldin N.
JABM JOURNAL of ACCOUNTING - BUSINESS & MANAGEMENT Vol 16 No 1 (2009): April
Publisher : JABM

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This paper develops an improvised methodology to measure poverty reduction for various categories, namely countries, regions, sub-groups, just to name a few. To this end, first, using mathematical expositions an index known as Basic Needs Deficiency Index (BNDI) is formulated. Second, this paper shows how the index can be used in empirical works, which in many respects are more convenient than the ones developed by other researchers in this area. Finally, by ranking and classifying the index, the status of poverty of a country can easily be gauged and hence mitigated.
THE RELATIVE STABILITY OF THE ISLAMIC MONETARY SYSTEM: SOME EVIDENCE FROM SUDAN Saaid, Abd. Elrahman Elzalij; Rosly, Saiful Azhar; Hj. Ibrahim, Mansor; Abdullah, Naziruddin
Jurnal Ekonomi & Studi Pembangunan JESP Volume 5 Nomor 1, April 2004
Publisher : Universitas Muhammadiyah Yogyakarta

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Abstract

Proses Islamisasi yang dimulai di banyak negara Islam beberapa tahun yang lalu kini telah menjadi kenyataan, meskipun masih diperlukan pembukitan secara empirik. Dengan menggunakan data Sudan mencoha menguji hipotesis Darrat’s  bahwa sistem moneter Islam lebih stabil tanpa aset yang mengandung bunga.Dalam kaitan ini empat krireria operasional utama diuji dengan menggunakan integrasi dan kointegrasi dan model ECM. Kriteria-kriteria itu adalah system moneter Islam yang secara structural menstabilkan hubungan permintaan uang; ia menunjukkan supply uang yang bisa dikontrol, juga memeiliki jalur yang mandiri dengan tujuan kebijakan akhir