The Determinants of Inward Foreign Direct Investment: the Case of Malaysia

This study empirically explores the role of corruption, and the impact of China joining the WTO in 2001 on inward foreign direct investment (FDI) in Malaysia. From the empirical tests, this study suggests:- (1) FDI and its determinants are cointegrated; (2) Openness, interest rate, inflation rate, the joining of China into the WTO, and the level of corruption are the major determinants explaining inward FDI in Malaysia, both in the long-run as well as short- run. In general, these findings do provide the policymakers with empirical information about the policy formation on the variables those stimulating FDI in Malaysia.Corruption; Foreign Direct Investment; Malaysia

Forecasting Value-at-Risk Using the Markov-Switching ARCH Model

This paper analyzes the application of the Markov-switching ARCH model (Hamilton and Susmel, 1994) in improving value-at-risk (VaR) forecast. By considering a mixture of normal distributions with varying variances over different time and regimes, we find that the “spurious high persistence†found in the GARCH model is adjusted. Under relative performance and hypothesis-testing evaluations, the VaR forecasts derived from the Markov-switching ARCH model are preferred to alternative parametric and nonparametric VaR models that only consider time-varying volatility. JEL classification: C22, C52, G28. Keywords: Value-at-Risk, Switching-regime ARCH models.Value-at-Risk, Switching-regime ARCH models

Association between red blood cell transfusion and bronchopulmonary dysplasia: a systematic review and meta-analysis

BackgroundWe aimed to determine the association between red blood cell transfusions (RBCT) and bronchopulmonary dysplasia (BPD) in neonates.MethodsA systematic review and meta-analysis were conducted using data obtained from literature search of PubMed, Embase, and Web of Science from their inception till May 1, 2022. Two reviewers independently selected potentially relevant studies, and after data extraction, they assessed the methodological quality of the included studies using the Newcastle–Ottawa scale. Data were pooled using random-effects models in Review Manager 5.3. Subgroup-analysis was performed based on the number of transfusions and adjusted results.ResultsOf the 1,011 identified records, 21 total case-control, cross-sectional, and cohort studies were selected, which included a total of 6,567 healthy controls and 1,476 patients with BPD. The pooled unadjusted odds ratio ([OR], 4.01; 95% confidence interval [CI] 2.31–6.97) and adjusted OR (5.11; 95% CI 3.11–8.4) showed significant association between RBCT and BPD. A substantial heterogeneity was noted, which could be due to different variables controlled for in each study. The subgroup analysis showed that heterogeneity may be partially explained by the extent of transfusion.ConclusionThe association between BPD and RBCT remains unclear based on the current data due to the substantial heterogeneity among the results. Well-designed studies are still needed in the future