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All Journal ETIKONOMI International Journal of Islamic Economics and Finance (IJIEF)
Anwar Allah Pitchay
Universiti Sains Malaysia
Economics, Econometrics & Finance

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Electricity Consumption and Economic Growth: A Revisit Study of Their Causality in Malaysia Mohamed Asmy Mohd Thas Thaker; Hassanudin Mohd Thas Thaker; Md. Fouad Amin; Anwar Allah Pitchay
ETIKONOMI Vol 18, No 1 (2019)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (391.223 KB) | DOI: 10.15408/etk.v18i1.7455

Abstract

The role of electricity towards the economy becomes crucial in many countries including in Malaysia. It becomes necessary to investigate whether electricity consumption contributes to economic growth in order to make appropriate energy policies. The purpose of this research is to examine the long run and causal relationships between electric power consumption and real GDP. This paper applies to the error-correction model. The results indicate that electricity consumption has a positive impact on economic growth. Besides that, there was unidirectional Granger causality running from electricity consumption to real GDP but not vice versa. This paper suggests that Malaysia is becoming an energy-dependent country. The government should emphasize on formulating energy strategies so as to avoid adverse effects on economic growth.JEL Classification: C39, D19, O40
PROPOSING AWQAF ALTERNATIVE PLAN (AAP): THE WAY FORWARD & SUSTAINABLE HIGHER EDUCATION FINANCIAL SYSTEM Anwar Allah Pitchay; Mohd Najwadi Yusoff Abdul Rahman; Mohamed Asmy Mohd Thas Thaker; Zubir Azhar; Al Amin Mydin; Mohamad I’sa Abd Jalil
International Journal of Islamic Economics and Finance (IJIEF) Vol 1, No 1 (2018): IJIEF Vol 1 (1), July 2018
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (728.213 KB) | DOI: 10.18196/ijief.113

Abstract

The future direction of the public university is to self-sustained due to the inconsistency of the national economic growth. For example, reduced in the national income has forced the Malaysian government to cut the allocation of funds to various ministries’ in 2016 compared to 2015 budget. The consequences of this phenomenon the government has reduced the allocation of budget to Ministry of Higher Education, which is cut by RM2.4 billion, from RM15.78 billion in 2015 compared to RM13.37 billion in 2016. This scenario has imposed various challenges to many public universities’ management to manage university expenses and explore new avenue to generate income. There are various ways to generate income and we find most of the tertiary education in Malaysia is not able to practice effective management especially in managing the cost of organizing a program. For example, food and beverages (FB) spend by the university during events are not effective and most of the time is wasted. This argument is developed based on the observation and also supported by an informal interview with a vice-chancellor (VC) of one of the public university in Malaysia. The VC do agree that the university management needs to find a solution to overcome the issue of wastage due to the forecasted cost rather than an accurate cost to organize a university’s events. Therefore, we believe that the main issue faced the university’s management is to identify an exact number of participants and etc. Thus, the current practice is based on the forecasted estimation rather than accurate estimation. Therefore, to solve this problem, the present study aims to provide an opportunity to the tertiary education in Malaysia which able to estimate an accurate cost and at the same time able to create waqf fund using effective fund management approach by proposing awqaf alternative plan (AAP) model. The proposed model is expected to generate Waqf fund and eliminate wastage management practice. 
Co-Authors Al Amin Mydin Hassanudin Mohd Thas Thaker Md. Fouad Amin Mohamad I’sa Abd Jalil Mohamed Asmy Mohd Thas Thaker Mohamed Asmy Mohd Thas Thaker Mohd Najwadi Yusoff Abdul Rahman Zubir Azhar