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Decrease in domestic petroleum prices on Malaysian industries - input output price model


Abdullah Chik, Norlaila and Saari, Mohd Yusof and Utit, Chakrin (2017) Decrease in domestic petroleum prices on Malaysian industries - input output price model. Global Advanced Research Journal of Management and Business Studies, 6 (1). 001-009. ISSN 2315-5086

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Abstract

This paper examines the impact of the decrease of petroleum product prices on sectoral cost of production in Malaysia.By using the Leontief price modelling technique, a scenario for the price changes on sectoral costs of production were simulated.The simulation results indicated that a five percent decrease in petroleum prices will affect all economic sectors.The cost of production for certain sectors, such as air transport, fishing, land transport, cement, lime and plaster, as well as communications are estimated to experience the lowest of production costs.Based on this scenario, the government has to encourage producers or sellers to reduce their prices of goods and services.

Item Type: Article
Uncontrolled Keywords: petroleum products, Leontief price modelling, simulation, sectors.
Subjects: H Social Sciences > HB Economic Theory
Divisions: School of Government
Depositing User: Dr. Norlaila Abdullah Chik
Date Deposited: 03 Jul 2017 01:43
Last Modified: 03 Jul 2017 01:43
URI: http://repo.uum.edu.my/id/eprint/22475

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