Mansor Jusoh

Sustainability of growth in the Malaysian oil palm farm subsector.

Abstract This paper examined the structure of farm production for Malaysias most important agricultural commodity, palm oil, over a 30-year period (1970–2000). Specifically, this study analyzed how the share of land factor and technical progress to oil palm output growth changed over time using the Cooley-Prescott (C-P) time-varying parameter model. Policy implications on oil palm growth sustainability are offered.

Factor Shares, Productivity, and Sustainability of Growth in the Malaysian Agricultural Sector

This study examines the structure of the Malaysian agricultural production function over a thirty-seven-year period (1960-96). In particular, this study analyses how the shares of factors and total factor productivity to agricultural growth change over time, using the Cooley-Prescott (C P) time-varying parameter (TVP) model. The relative magnitudes of the permanent and temporary portions of the time-varying parameter vectors, and changes in factor shares and input elasticities for Malaysian agriculture, are also examined over time. Policy implications on agricultural sustainability are offered.

A model of the demand for Islamic banks debt-based financing instrument

This paper presents a theoretical analysis of the demand for debt-based financing instruments of the Islamic banks. Debt-based financing, such as through baibithamanajil and al-murabahah, is by far the most prominent of the Islamic bank financing and yet it has been largely ignored in Islamic economics literature. Most studies instead have been focusing on equity-based financing of al-mudharabah and al-musyarakah. Islamic bank offers debt-based financing through various instruments derived under the principle of exchange (ukud al-mu’awadhat) or more specifically, the contract of deferred sale. Under such arrangement, Islamic debt is created when goods are purchased and the payments are deferred. Thus, unlike debt of the conventional bank which is a form of financial loan contract to facilitate demand for liquid assets, this Islamic debt is created in response to the demand to purchase goods by deferred payment. In this paper we set an analytical framework that is based on an infinitely lived representativ...