4 research outputs found
Malaysian bilateral trade relations and economic growth
This paper examines the structure and trends of Malaysian bilateral exports and imports and then investigates
whether these bilateral exports and imports have caused Malaysian economic growth. Although the structure of
Malaysia’s trade has changed quite significantly over the last three decades, the direction of Malaysia’s trade
remains generally the same. Broadly, ASEAN, the EU, East Asia, the US and Japan continue to be the
Malaysia’s major trading partners. The Granger causality tests have shown that it is the bilateral imports that
have caused economic growth in Malaysia rather than the bilateral exports
Exchange rate misalignments in ASEAN-5 countries
The purpose of this paper is to estimate the exchange rate misalignments for Indonesia, Malaysia, Philippines,
Singapore and Thailand before the currency crisis. By employing the sticky-price monetary exchange rate model
in the environment of vector error-correction, the results indicate that the Indonesia rupiah, Malaysian ringgit,
Philippines peso and Singapore dollar were overvalued before the currency crisis while Thai baht was
undervalued on the eve of the crisis. However, they suffered modest misalignment. Therefore, little evidence of
exchange misalignment is found to exist in 1997:2. In particular, Indonesia rupiah, Malaysia ringgit, Philippines
peso and Singapore dollar were only overvalued about 1 to 4 percent against US dollar while the Thai baht was
only 2 percent undervalued against US dollar
Fuzzy multicriteria analysis and its applications for decision making under uncertainty
Multicriteria decision making refers to selecting or ranking alternatives from available alternatives with respect to multiple, usually conflicting criteria involving either a single decision maker or multiple decision makers. It often takes place in an environment where the information available is uncertain, subjective and imprecise. To adequately solve this decision problem, the application of fuzzy sets theory for adequately modelling the uncertainty and imprecision in multicriteria decision making has proven to be effective. Much research has been done on the development of various fuzzy multicriteria analysis approaches for effectively solving the multicriteria decision making problem, and numerous applications have been reported in the literature. In general, existing approaches can be categorized into (a) multicriteria decision making with a single decision maker and (b) multicriteria group decision making. Existing approaches, however, are not totally satisfactory due to various shortcomings that they suffer from including (a) the inability to adequately model the uncertainty and imprecision of human decision making, (b) the failure to effectively handle the requirements of decision maker(s), (c) the tedious mathematical computation required, and (d) cognitively very demanding on the decision maker(s). This research has developed four novel approaches for effectively solving the multicriteria decision making problem under uncertainty. To effectively reduce the cognitive demand on the decision maker, a pairwise comparison based approach is developed in Chapter 4 for solving the multicriteria problem under uncertainty. To adequately meet the interest of various stakeholders in the multicriteria decision making process, a decision support system (DSS) based approach is introduced in Chapter 5. In Chapter 6, a consensus oriented approach is presented in multicriteria group decision making on which a DSS is proposed for facilitating consensus building in solving the multicriteria group decision making problem. In Chapter 7, a risk-oriented approach is developed for adequately modelling the inherent risk in multicriteria group decision making with the use of the concept of ideal solutions so that the complex and unreliable process of comparing fuzzy utilities usually required in fuzzy multicriteria analysis is avoided. Empirical studies of four real fuzzy multicriteria decision making problems are presented for illustrating the applicability of the approaches developed in solving the multicriteria decision making problem. A hospital location selection problem is discussed in Chapter 8. An international distribution centre location problem is illustrated in Chapter 9. A supplier selection problem is presented in Chapter 10. A hotel location problem is discussed in Chapter 11. These studies have shown the distinct advantages of the approaches developed respectively in this research from different perspectives in solving the multicriteria decision making problem