Rethinking and Moving Beyond GDP : A New Measure of Sarawak Economy Panorama
Despite the relatively strong adjustment in the global economy outlook, the Malaysian economy remains uncertain as the ringgit movement lies ambiguously ahead while volatile capital flows, inflationary pressure, and the vulnerable external sector and global trade remain intense. The Sarawak econom...
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Main Authors: | , , , |
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Format: | E-Article |
Language: | English |
Published: |
Canadian Center of Science and Education
2018
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Subjects: | |
Online Access: | http://ir.unimas.my/id/eprint/22700/1/Rethinking%20and%20Moving%20Beyond%20GDP%20%3B%20A%20New%20Measure%20of%20Sarawak%20Economy%20Panorama%20%28abstract%29.pdf http://ir.unimas.my/id/eprint/22700/ http://www.ccsenet.org/journal/index.php/ibr/article/view/0/37616 |
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Summary: | Despite the relatively strong adjustment in the global economy outlook, the Malaysian economy remains
uncertain as the ringgit movement lies ambiguously ahead while volatile capital flows, inflationary pressure, and
the vulnerable external sector and global trade remain intense. The Sarawak economy, which relies heavily on
primary commodities and export earnings from oil-based industries, will soon face a noxious mixture of
economic risks following the decrease in commodity prices. Thus, it is essential to develop a well-timed
signaling mechanism to estimate the unpredictable economic forces that develop from the complex and
multidimensional issues of domestic and global economies. The ideology of indicator construction from the
Conference Board will be applied in this study to build a composite leading indicator, called the Sarawak
Business Cycle Indicator (SBCI), to trace the cyclical movement of the aggregate economic activity in Sarawak.
In this respect, the SBCI, which has demonstrated statistical significance with an average leading power of 3.5 months, is expected to be important in reflecting a notable economic outlook for the State. More importantly, the SBCI will serve as a valuable reference to act as a short-term forecasting tool to provide insight at both the national and state levels. |
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