The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis

M. Yusof, Saari and Ahmad Fauzi, Puasa and Khairul Hisyam, Hassan (2007) The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis. Malaysian Journal of Economic Studies, 44 (1). pp. 1-12. ISSN 15114554

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Abstract

By using an input-output model, this paper attempts to examine the economic impact on the Malaysian economy resulting from an increase in crude oil petroleum price. By simulating different levels of crude oil prices, we found that an increase in the world crude oil petroleum price gives more capacity to the economy in generating output and revenue collected by the government in the form of direct and indirect taxes. However, it is very clear that if the crude oil price reaches USD60/barrel, the government will be required to subsidise about RM8.27 of the petrol retail price in order to maintain the current price level. Keywords: Economic impact, input-output analysis, oil price, Malaysian economy JEL classification: C67, E66

Item Type: Article
Uncontrolled Keywords: Economic impact, input-output analysis, oil price, Malaysian economy, unimas, university, universiti, Borneo, Malaysia, Sarawak, Kuching, Samarahan, ipta, education, research, Universiti Malaysia Sarawak
Subjects: H Social Sciences > HB Economic Theory
Divisions: Academic Faculties, Institutes and Centres > Faculty of Economics and Business
Depositing User: Ab Rahim
Date Deposited: 31 Oct 2017 07:21
Last Modified: 31 Oct 2017 07:21
URI: http://ir.unimas.my/id/eprint/18371

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