The Asian financial crisis was a time of financial catastrophe that grasped quite a bit of East Asia starting in July 1997 and raised reasons for alarm of an overall economic emergency. This study investigates the effects of capital control and external debts during the 1997 financial crisis, and whether a country should impose capital control or opt for external debt to recuperate from the crisis. Utilizing system estimation approach, an econometric model is devised by employing panel data for Malaysia, Thailand, Indonesia, the Philippines and South Korea over the period from 1990 to 2000. Our findings suggest that on average the ASEAN economies choosing external debt perform better in achieving greater economic growth and rebounding compared to economies that imposed capital control.
Title of Project
Innovation in Classroom as a Means to Inspire Innovation in Society: The Case for Project Based Learning
Tanzima Sultana & Imtiaz Sifat
Name of Event
International Conference on Social Innovation 2016
ISM (Institut Sosial Malaysia)
Project Based Learning—learning by experience and doing—emerged as an experimental alternative to the conventional teaching methods in order to improve cognitive and meta-cognitive abilities of the students. Rote learning, which has long been the mainstay of orthodox educational system, stresses inordinately on the final result and has been linked with stifling creativity, innovation, and enterprise. Conversely, Project Based Learning adopts a unique approach by emphasizing the journey of learning rather than its destination. In other words, it is more a process than a product, which aims to incorporate higher order thinking skills and instill virtues of creativity, imagination, and innovation in students’ repertoire. In this paper we advocate embracing this method of pedagogy into the central curriculum and argue for its potency in fostering innovation and thus bringing a wave of change into the social structure as its implementation promises to nurture a group of skilled, creative, and productive citizens for the global community.
Despite the surge of ethical and ecologically tenable green investing and banking alternatives worldwide, such options are yet to proliferate in frontier markets such as Asia. This green industry—if it can be called one—is still in an embryonic stage. Though prominent financial institutions like merchant banks and mutual funds have pledged to operate and invest in a green environment, the adoption rate is still painfully slow. Like most nascent products, the green investment industry still confronts challenges to generate enough interest to grow and stay competitive to the conventional counterparts. This study attempts to investigate the constraining factors which stifle the growth of the green investment industry from a Malaysian perspective. In addition, this study attempts to find ways on how they can increase their market share locally. To attain this objective primary data was collected through survey method in Selangor region. Upon analysis, we found that product awareness is positive and significantly determined the selection of green banking and investment products while rate of return negatively determined the customers’ selection. Hence, customers need to be made more aware of the existence and the philosophy behind such investment products before they choose to opt for it. In addition, rate of return appears to have a weak connection to customers’ preference towards green investment products. It is expected that this study would furnish ideas to the proponents of green philosophy and campaigners of sustainable practices on how to generate more interest in investing in sustainable and earth-friendly economic practitioners.