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The Factors That Influence Foreign Holdings of Malaysian Government Bonds

While the flows of global capital can facilitate optimal global monetary allocation, they can also cause global macroeconomic imbalances before and after financial crises. From this point of view, looking into what causes the flows of capital is important to prevent economic turmoil and financial cr...

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Main Authors: Zaidey Evon, Lee, Hock Ann
Format: Article
Language:English
English
Published: Human Resource Management Academic Research Society (HRMARS) 2021
Subjects:
HG4501-6051 Investment, capital formation, speculation
Online Access:https://eprints.ums.edu.my/id/eprint/32220/1/The%20Factors%20That%20Influence%20Foreign%20Holdings%20of%20Malaysian%20Government%20Bonds.pdf
https://eprints.ums.edu.my/id/eprint/32220/2/The%20Factors%20That%20Influence%20Foreign%20Holdings%20of%20Malaysian%20Government%20Bonds1.pdf
https://eprints.ums.edu.my/id/eprint/32220/
https://hrmars.com/index.php/IJARBSS/article/view/11711/The-Factors-That-Influence-Foreign-Holdings-of-Malaysian-Government-Bonds
http://dx.doi.org/10.6007/IJARBSS/v11-i12/11711
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spelling my.ums.eprints.322202022-04-03T23:57:45Z https://eprints.ums.edu.my/id/eprint/32220/ The Factors That Influence Foreign Holdings of Malaysian Government Bonds Zaidey Evon Lee, Hock Ann HG4501-6051 Investment, capital formation, speculation While the flows of global capital can facilitate optimal global monetary allocation, they can also cause global macroeconomic imbalances before and after financial crises. From this point of view, looking into what causes the flows of capital is important to prevent economic turmoil and financial crises. Therefore, this research aims to examine the impact of pull factors (domestic factors) and push factors (US unconventional monetary policy) on the foreign bondholding in Malaysia. This research analyses monthly data for the period January 2008 - April 2018 using the Autoregressive Distributed Lag (ARDL) method. The empirical results reveal that the empirical model with US total assets is the best model in investigating the impact of all the independent variables toward the foreign bondholding in Malaysia. According to the findings of this research, each of the pull variables has a significant long-run relationship with foreign bondholding in Malaysia. Most crucially, total asset, an unconventional monetary policy tool used by the United States, has a significant positive link with foreign bondholding in Malaysia. Despite these promising findings, further research should be conducted to investigate the disaggregated analysis of US total assets on the foreign bondholding of Malaysian government bonds. Human Resource Management Academic Research Society (HRMARS) 2021 Article PeerReviewed text en https://eprints.ums.edu.my/id/eprint/32220/1/The%20Factors%20That%20Influence%20Foreign%20Holdings%20of%20Malaysian%20Government%20Bonds.pdf text en https://eprints.ums.edu.my/id/eprint/32220/2/The%20Factors%20That%20Influence%20Foreign%20Holdings%20of%20Malaysian%20Government%20Bonds1.pdf Zaidey Evon and Lee, Hock Ann (2021) The Factors That Influence Foreign Holdings of Malaysian Government Bonds. International Journal of Academic Research in Business and Social Sciences, 11. pp. 1874-1890. ISSN 2222-6990 https://hrmars.com/index.php/IJARBSS/article/view/11711/The-Factors-That-Influence-Foreign-Holdings-of-Malaysian-Government-Bonds http://dx.doi.org/10.6007/IJARBSS/v11-i12/11711
institution Universiti Malaysia Sabah
building UMS Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sabah
content_source UMS Institutional Repository
url_provider http://eprints.ums.edu.my/
language English
English
topic HG4501-6051 Investment, capital formation, speculation
spellingShingle HG4501-6051 Investment, capital formation, speculation
Zaidey Evon
Lee, Hock Ann
The Factors That Influence Foreign Holdings of Malaysian Government Bonds
description While the flows of global capital can facilitate optimal global monetary allocation, they can also cause global macroeconomic imbalances before and after financial crises. From this point of view, looking into what causes the flows of capital is important to prevent economic turmoil and financial crises. Therefore, this research aims to examine the impact of pull factors (domestic factors) and push factors (US unconventional monetary policy) on the foreign bondholding in Malaysia. This research analyses monthly data for the period January 2008 - April 2018 using the Autoregressive Distributed Lag (ARDL) method. The empirical results reveal that the empirical model with US total assets is the best model in investigating the impact of all the independent variables toward the foreign bondholding in Malaysia. According to the findings of this research, each of the pull variables has a significant long-run relationship with foreign bondholding in Malaysia. Most crucially, total asset, an unconventional monetary policy tool used by the United States, has a significant positive link with foreign bondholding in Malaysia. Despite these promising findings, further research should be conducted to investigate the disaggregated analysis of US total assets on the foreign bondholding of Malaysian government bonds.
format Article
author Zaidey Evon
Lee, Hock Ann
author_facet Zaidey Evon
Lee, Hock Ann
author_sort Zaidey Evon
title The Factors That Influence Foreign Holdings of Malaysian Government Bonds
title_short The Factors That Influence Foreign Holdings of Malaysian Government Bonds
title_full The Factors That Influence Foreign Holdings of Malaysian Government Bonds
title_fullStr The Factors That Influence Foreign Holdings of Malaysian Government Bonds
title_full_unstemmed The Factors That Influence Foreign Holdings of Malaysian Government Bonds
title_sort factors that influence foreign holdings of malaysian government bonds
publisher Human Resource Management Academic Research Society (HRMARS)
publishDate 2021
url https://eprints.ums.edu.my/id/eprint/32220/1/The%20Factors%20That%20Influence%20Foreign%20Holdings%20of%20Malaysian%20Government%20Bonds.pdf
https://eprints.ums.edu.my/id/eprint/32220/2/The%20Factors%20That%20Influence%20Foreign%20Holdings%20of%20Malaysian%20Government%20Bonds1.pdf
https://eprints.ums.edu.my/id/eprint/32220/
https://hrmars.com/index.php/IJARBSS/article/view/11711/The-Factors-That-Influence-Foreign-Holdings-of-Malaysian-Government-Bonds
http://dx.doi.org/10.6007/IJARBSS/v11-i12/11711
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score 13.211869

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