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International Journal of Management Studies (IJMS) Vol. 18, Special Issue June 2011

The Tenth Malaysia Plan: Transformation Towards a High Income Advanced Economy
Noor Azlan Ghazali
Head of Economic and Finance Cluster
National Professorial Council
First of all, thanks for giving me the opportunity to share some of my views despite coming back just recently. Before I move ahead, I would like to just quickly give some quick overview of something very relevant with what we are going to discuss today because the 10th Malaysia Plan is unique in a couple of ways. First of all, in terms of the preparations for the plan. This time the 10th Malaysia Plan was prepared ahead of time, earlier than the schedule. It was not as usual because it was tabled last year. Basically, it was for implementation purposes as it was starting in 2011. And there are a couple of other changes in terms of how the government plans, in the 10th Malaysia Plan, to disburse the funds for development.

Rancangan Pembangunan Malaysia: Isu Tukar-Ganti (Trade-Off ) Antara Pertumbuhan Dengan Kelestarian
Chamhuri Siwar, Nasyrah Ahmad Damanhuri & Sarah Aziz Abdul Ghani Aziz
Institut Alam Sekitar dan Pembangunan
Universiti Kebangsaan Malaysia
Abstrak Ɩ Full Text
Rancangan Malaysia Kesepuluh (RMK-10) menyasarkan Malaysia mencapai pertumbuhan enam sehingga tujuh peratus sepanjang tempoh rancangan. Pertumbuhan yang tinggi ini akan menjadi aspirasi negara untuk menjadi sebuah negara berpendapatan tinggi menjelang tahun 2020 sejajar dengan matlamat Wawasan 2020. Walau bagaimanapun, persoalan timbul apabila, pertumbuhan negara dikaitkan dengan konsep pembangunan lestari yang berlandaskan pembangunan ekonomi yang menitikberatkan kesejahteraan sosial dan kelestarian alam sekitar. Adakah negara perlu mengejar pertumbuhan yang diukur menerusi Keluaran Dalam Negara Kasar (KDNK)? Bagaimana negara menangani isu berkaitan pembangunan lestari yang mengambil kira perkiraan terhadap alam sekitar? Dalam Model Ekonomi Baru (MEB) telah menjelaskan tiga komponen utama yang diberi penekanan; inclusiveness, negara berpendapatan tinggi dan kelestarian. Kajian ini akan menyingkap hubung kait ketiga-tiga komponen ini, menganalisis dan menjawab persoalan apakah tukar-ganti antara ketiganya yang merangkumi isu pengagihan pendapatan, kemiskinan, ketidakseimbangan pendapatan menerusi pekali gini dan isu berkaitan pembangunan lestari
Kata kunci: Rancangan Malaysia Kesepuluh (RMK-10), indikator pembangunan lestari.

National Key Economic Area Multiplier Impact On Malaysian Economy: An Input-Output Analysis
Siti Nadiah Ahmad Fuad & Ahmad Fauzi Puasa
Malaysian Institute of Economic Research
Abstract Ɩ Full Text
The ultimate aim of this research is to provide an analysis of the impact multipliers on the Malaysian economy for 12 NKEA sectors. Economic activity is a complicated web of interdependent behaviour. A change in any part of the economy leads to changes elsewhere. Consequently, the estimation of the ultimate total impact of a change in the NKEA requires the measurement of the changes that occur elsewhere in the economy. The technique available to obtain these measurements is called input-output (I-O) analysis. I-O analysis is concerned with studying the interdependence of the producing and the consuming units in the modern economy. Our computation of complete I-O multipliers includes total output, income, employment, value-added, imported commodity, domestic taxes and imported taxes multipliers for the NKEA. Among the NKEA sectors, the palm oil, tourism, education, healthcare and other sectors have great potential for further development and are expected to give a high impact on the Malaysian economy. If the government wishes to boost the Malaysian economy for growth, these are the appropriate sectors for development.
Keywords: NKEA, input-output analysis, multiplier impact.

Harmonizing the Tenth Malaysia Plan Priorities with the New Economic Model and the Green World Order
Saleem Mustafa
Borneo Marine Research Institute
Universiti Malaysia Sabah
Shahbudin Saad
Institute of Oceanography & Maritime Studies
International Islamic University Malaysia, Pahang
Abstract Ɩ Full Text
The New Economic Model (NEM) is a need-based concept intended to integrate innovative ideas in chartering the path of socio-economic development of Malaysia. NEM is timely for building resilience into the economic systems through the participation of all, and for the benefit of all sections of the society. In a high income society, there will have to be value for money and money for value, reduction in subsidies, efficient fiscal management to reduce unnecessary expenditure, management of value-added and market-driven products and services, revamping of the education system, reviewing of R&D priorities, enhancing staff efficiency, less discussion for more action, less paper work for more output, and realistic targets for delivery. The sustainability dimension of NEM should envisage sustainable management of natural resources. This is achievable by aligning our activities with the new concept of ‘Green World Order’ which expands the existing peace and stability mottos of the World Order to include environment and sustainability. Under this concept there is a need for making changes in our activities. For example, short-term economic gains at the expense of long-term benefits that produce footprints of irreversible damage have to be addressed. Our development planning requires resetting in the light of environmental limitations to achieve the goals of NEM. With the valuation of the ecosystem services becoming increasingly important, we should pursue this matter aggressively to seek best deals for the natural resources we are blessed with. We can claim a substantial amount of international climate change mitigation funds because some of our resources (forests, mangroves and coral reefs) are carbon sinks which international agencies are seeking for investment. This not only generates resources for conservation but also brings dividends to the custodians of the carbon sinks. With an effective action plan, Malaysia can take advantage of the growing carbon market and green economy. The main elements of the proposed action plan are discussed in this paper.
Keywords: Development plan, green perspectives, economic model.

Impact of Biodiesel Demand on the Malaysian Palm Oil Industry: A Simultaneous Equations Approach
Shri Dewi A/P Applanaidu
UUM College of Business
Universiti Utara Malaysia
Fatimah Mohd. Arshad & Zulkornain Yusop
Faculty of Economics and Management
Universiti Putra Malaysia
Mad Nasir Shamsudin
Faculty of Agriculture
Universiti Putra Malaysia
Mohammad Haji Alias
Faculty of Economics and Muamalat
Universiti Sains Islam Malaysia
Abstract Ɩ Full Text
The European Union (EU) Renewable Energy Directive set a target of 20 % share of energy from the renewable sources and 10% share of renewable energy specifically in the transport sector. This has resulted in some countries looking for bio-based alternative energies which lead to the increase in demand for bio-based feedstocks such as palm and rapeseed oil (for biodiesel) and sugar cane and corn (for ethanol). One of the new elements in the palm oil market is the growing demand for this commodity as a feedstock to biodiesel production. This will also put Malaysia in a better light on the international front for taking the effort to reduce carbon emissions. In line with this, the palm oil sector in Malaysia will be able to match the New Economic Model’s (NEM) major goals of high income, sustainability and inclusiveness. This new development is affecting the dynamics of the market, in particular, the supply and demand sectors of this commodity. This paper seeks to examine the impact of biodiesel demand on the Malaysian palm oil industry. This paper proposes a structural econometric model consisting of nine structural equations and four identities. The model has been estimated by the two stage least squares method using annual data for the period 1976–2010.

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