The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis
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 capaci...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Malaysian Economic Association
2007
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/18371/ http://ir.unimas.my/id/eprint/18371/7/The%20Impact%20of%20World%20Crude%20Oil%20Price%20Changes%20on%20the%20Malaysian%20%28abstract%29.pdf |
| _version_ | 1848838497490698240 |
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| author | M. Yusof, Saari Ahmad Fauzi, Puasa Khairul Hisyam, Hassan |
| author_facet | M. Yusof, Saari Ahmad Fauzi, Puasa Khairul Hisyam, Hassan |
| author_sort | M. Yusof, Saari |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | 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 |
| first_indexed | 2025-11-15T06:56:30Z |
| format | Article |
| id | unimas-18371 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:56:30Z |
| publishDate | 2007 |
| publisher | Malaysian Economic Association |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-183712017-10-31T07:21:46Z http://ir.unimas.my/id/eprint/18371/ The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis M. Yusof, Saari Ahmad Fauzi, Puasa Khairul Hisyam, Hassan HB Economic Theory 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 Malaysian Economic Association 2007 Article PeerReviewed text en http://ir.unimas.my/id/eprint/18371/7/The%20Impact%20of%20World%20Crude%20Oil%20Price%20Changes%20on%20the%20Malaysian%20%28abstract%29.pdf 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 |
| spellingShingle | HB Economic Theory M. Yusof, Saari Ahmad Fauzi, Puasa Khairul Hisyam, Hassan The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis |
| title | The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis |
| title_full | The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis |
| title_fullStr | The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis |
| title_full_unstemmed | The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis |
| title_short | The Impact of World Crude Oil Price Changes on the Malaysian Economy: an Input-Output Analysis |
| title_sort | impact of world crude oil price changes on the malaysian economy: an input-output analysis |
| topic | HB Economic Theory |
| url | http://ir.unimas.my/id/eprint/18371/ http://ir.unimas.my/id/eprint/18371/7/The%20Impact%20of%20World%20Crude%20Oil%20Price%20Changes%20on%20the%20Malaysian%20%28abstract%29.pdf |