UPSI Digital Repository (UDRep)
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| Abstract : Perpustakaan Tuanku Bainun |
| The industrial production sector (IPS) has played a crucial role in contributing into the gross domestic product (GDP) in a country. From the previous study, the studies on the Malaysian IPS are rarely and did not yet sufficiently studied in the recent year. Therefore, this research attempts to investigate the factors that affect IPS Malaysia from the period of 1970 to 2020 by using ARDL approach and Toda Yamamoto causality test. The objective of this study is to examine the causality relationship and to investigate the existence of long run equilibrium relationship between IPS and the selected macroeconomic variables. From the result of long run model, financial development (FD), inflows of foreign direct investment (IFDI), tax burden (TB), economic stability (ES) and export (X) have long run relationship with IPS. Furthermore, variable of FD, IFDI and ES have negative effect on IPS, while TB and X have positive impact on IPS in the long run. In contrast, from the short run estimates show that the FD variable have a negative significant effect on the IPS at most of the lags. While IFDI, TB, X and ES have a significant positive influence on the IPS at the first, second and the third lags at the 5% significance level. However, ES turns into a negative significant effect on the IPS at the fifth lag. These findings suggest that the proposed variables drive the magnitude and performance of the IPS in Malaysia in both the long run and short run. The following ECT test shows that the adjustments of short run to long run equilibrium is fast to achieve the long run equilibrium. In Toda Yamamoto causality test result indicates that all independent variables has an unidirectional relationship with IPS, except X has bidirectional relationship. Overall, the long run and significant relationship in determination of IPS imply that government should plan a comprehensive socioeconomic development by monitoring economy policy and development programs to achieving the nation_s socioeconomic goals and outcomes. Hence, this paper is important to policymakers for the design of industrial policies and promote production growth. |
| References |
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