CURRICULUM VITAE
  • Name : ZULKEFLY B. ABDUL KARIM
  • Qualifications :
    • Bachelor in Economics (1996) from National University of Malaysia (CGPA 3.53 - Second class upper)
    • Master in Economics (1998) from University Putra Malaysia (CGPA 3.79)(specialization in monetary economics & International finance)
    • Ph.D  in Economics (Awarded by 21 March 2011)  from University of Southampton, UK

             (specialization in monetary economics, financial economics & capital market study)

              Ph.D Dissertation ' Essays on Monetary Policy: Macro and Firm-level Evidence  from Malaysia, a Small-Open Economy'.

              Supervisors: Prof. Dr. Peter Smith & Dr. John Bluedorn

              Examiners : Dr. Christopher Bowdler (University of Oxford, UK)

                                Dr. Jan Podivinsky (University of Southampton, UK)

  • Specialisation :
    • Monetary and financial economics
    • International finance
    • Applied Econometric 
    • Public Finance
  • Current Projects and Grants :
    • Malaysian Banking Structure And Reformation: Competitiveness And Market Contestability (status: completed). Short term grant sponsored by Faculty.
    • The Evaluation of Bond Prices: Convexity and Risk Premium (status: completed). Short term grant sponsored by Faculty.
    • Government Spending and Revenue: Time Series Analysis and Panel Data in Malaysian Peninsular State. (status: completed). Short term grant sponsored by Faculty.  
    • Islamic and Convensional Unit Trust Funds in Malaysia: Do Different Measurement Matter? (status: completed). unsponsored research
    • Inflation and Relative Price Variability in Malaysia (status: under progress). Short term grant sponsored by Faculty

     

  • Selected Publications :

    Refereed Jurnal:

    • Zulkefly Abdul Karim.  2011. Monetary policy and firms’ investment: Dynamic panel data evidence from Malaysia. IIUM Journal of Economics  & Management (accepted). 
    • Zulkefly Abdul Karim, Wan Azman Saini Wan Ngah, & Bakri Abdul Karim. Bank Lending Channel of Monetary Policy: Dynamic Panel Data Study of Malaysia. Journal of Asia Pacific and Business (status : accepted for Volume 12, Issue 3, September 2011).
    • Zulkefly Abdul Karim. 2010. Microfinance and Mechanism Design: The role of joint liability and cross-reporting. International Journal of Management Studies (IJMS), Vol. 17 (2): 1-24.
    • Zulkefly Abdul Karim, Fathin Faezah  Md. Said,  Mansor Jusoh, and Md. Zyadi Md. Thahir.  2010. Monetary Policy and Inflation Targeting in a Small Open-Economy. Journal of International Economic Review (JIER), Vol. 3 (2): 125-137.
    • Zulkefly Abdul Karim. 2010. Monetary Policy Shocks and Firm Stock Returns: Dynamic Panel Data Evidence in Malaysia. Journal of International Economic Review (JIER), Vol. 3 (1) :1-22.
    • Zulkefly Abdul Karim, Mansor Jusoh & Norlin Khalid. 2010. Halaju Wang di Malaysia : Bukti Empirik. International Journal of Management Studies (IJMS), Vol. 17 (1): 149-170.
    • W.N.W. Azman -Saini, Evan Lau & Zulkefly Abdul Karim. 2010. Hedge Funds, Exchange Rate and Causality: Evidence From Thailand and Malaysia. Applied Economics Letters, 17 : 393-397.
    • Zulkefly Abdul Karim, Mohd. Azlan Shah Zaidi dan Norain Mod Asri. 2008. Pembangunan Kewangan dan Pertumbuhan Sektor-Sektor Ekonomi: Bukti Empirikal di Malaysia, Jurnal Ekonomi Malaysia, 42: 65-89.
    • Zulkefly Abdul Karim, Mohd. Azlan Shah Zaidi dan Mansor Jusoh , 2008 , International Journal of Management Studies (IJMS) , Variabiliti Harga Relatif dan Inflasi: Bukti Empirikal di Semenanjung Malaysia, Sabah dan Sarawak , 15(2):165-181.
    • Zulkefly Abdul Karim, Md Zyadi Md Tahir & Nobel Aqualdo. 2007. Gelagat Tabungan Sektor Swasta di Malaysia , Akademika , 71(Julai): 75-90.
    • Fathin Faizah Said, Mustazar Mansur, Zulkefly Abdul Karim, Noraian Mod Asri  & Antoni. 2007. Liberalizing the Malaysian Stock Market. Jurnal Ekonomi Pembangunan, Vol. 12 (2): 87-98.
    • Abdul Ghafar Ismail, Zulkefly Abdul Karim, Mohd. Azlan Shah Zaidi and Hairunnizam Wahid. 2006. Interest Rate Uncertainty, Spread And Economic Activity: Empirical Evidence In Malaysia, Jurnal Ekonomi Pembangunan, Vol 55: 187-199.
    • Mustazar Mansur, Zulkefly Abdul Karim, Norain Mod Asri & Fathin Faezah Saidi. 2007. Implikasi Pembangunan Modal Manusia Dalam Sektor Perbankan Tempatan: Kajian Kes Di Malaysia. Akademika APTISI Bandung, Indonesia.Volume 11, No.2: ISSN 0854-4336,  62-69.
    • Zulkefly Abdul Karim, Aminudin Mokhtar dan Norain Mod Asri. 2006.   The Nexus Between Government Revenue and Spending: Empirical Evidence From State Government in Malaysia. Jurnal Ekonomi Malaysia, (40): 59-93.
    • Mohd. Azlan Shah Zaidi, Zulkefly Abdul Karim & Zurina Kefeli@Zulkefli. 2006. The Relationship Between Consumer Price Index (CPI) and Producer Price Index (PPI) : Empirical Evidence in Malaysia. Malaysian Journal of Consumer And Family Economics, Vol. 9: 47-55.

    • Zulkefly Abdul Karim, Norain Mod Asri & Wook Endut. The Relationship Between Domestic Consumption, Consumer Price Index and Gross Domestic Product : Empirical Evidence in Malaysia. Malaysian Journal of Consumer And Family Economics, Vol. 9 : 93-113.

    • Zulkefly Abdul Karim, Antoni, Aminudin Mokhtar & Norain Mod Asri. 2006. The Relationship Between Government Revenue and Spending : Empirical Evidence in Peninsular State of Malaysia. Jurnal Ekonomi Pembangunan, UMS, Indonesia. Vol. 7 (1) : 17-37. 

    • Zulkefly Abdul Karim, Norain Mod Asri,  Antoni & Farid Wajdi. 2006. The Relationship Between Overnight Money in Conventional and Islamic Bank : Empirical Evidence in Malaysia. Benefit Jurnal Management dan Bisnis, 10(2): 226-236.

    • Zulkefly Abdul Karim, Norain Mod Asri, Azrina Abdullah Al-Hadi, Antoni  & Zetty Zahureen Mohd. Yusoff. 2006. The Relationship Between Federal Government Revenue and Spending: Empirical Evidence From ASEAN-5 Countries. Jurnal Ekonomi Pembangunan, UII, Vol 11 No.2 : 91-113.

    • Zulkefly Abdul Karim, Norain Mod Asri, Farid Wajdi & Antoni. 2006. The Relationship Between Consumer Prices Indices by Region in Malaysia. Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan, 7 (2) : 185-202. 
    • Zulkefly Abdul Karim & Aminudin Mokhtar. 2005. The Relationship Between Government Revenue and Spending : Empirical Evidence at Federal Government and State Goverment in Malaysia. International Journal of Management Studies (IJMS). 12 (2): 147-172. 
    • Mohd. Azlan Shah Zaidi, Zulkefly Abdul Karim & Zurina Kefeli @ Zulkefli. 2005. Financial Sector Development, Government Size, Trade Openness and Economic Growth: An Empirical Analysis In ASEAN-4 Countries. Jurnal Ekonomi Pembangunan. Volume 10, No.2 : 107-121.
    • Mohd. Azlan Shah Zaidi, Mansor Jusoh & Zulkefly Abdul Karim. 2005. The Relationship Between Relatives Price Variability and Inflation in Malaysia. Media Ekonomi Trisakti, Indonesia. Vol. 11: 45-57.
    • Zulkefly Abdul Karim, Antoni, Aminudin Mokhtar & Norain Mod Asri. 2005. Budget Hypothesis: Empirical Evidence in Negeri Sembilan, Selangor, Melaka and Johor. Empirika, Vol. 18, No.2: 147-161.
    • Mohd Azlan Shah Zaidi, Zulkefly Abdul Karim & Aminudin Mokhtar. Foreign Direct Investment (FDI) and Economic Growth: Empirical Evidence. Jurnal Analisis 2003 (December): 223-245.
    • Wook Endut, Zulkefly Abdul Karim & Norain Mod Asri. 2004. Factors Influence the Motives for Credit Card Consumption in Malaysia. Malaysian Journal of Consumer And Family Economics. Vol. 7:117-130.
    • Mohd Azlan Shah Zaidi, Zulkefly Abdul Karim & Zurina Kefeli. 2004. The Performance of the Islamic Unit Trust in Malaysia: Does it Persist?. Journal of Muamalat and Islamic Finance Research No.1, Vol 1, June 2004: 39-65. 
    • Norain Mod Asri, Zulkefly Abdul Karim, Shahida Shahimi,Azrina Abdullah Al-Hadi &. 2004. The Effect of Islamic Private Debt Securities Changes on Firm`s Common Stock Return. Journal of Muamalat and Islamic Finance Research  No.1 Vol. 1, June 2004: 25-38.
    • Zulkefly Abdul Karim, Aminudin Mokhtar & Mohd Azlan Shah Zaidi. 2004. The Relationship Between Nominal Rates of Return and Demand for Deposit in Islamic Banking System in Malaysia.  Jurnal Ekonomi Malaysia, Jilid 38 : 3-27.
    •  Zulkefly Abdul Karim, Mohd. Azlan Shah Zaidi & Aminudin Mokhtar. Monetary Policy, Intermediate Targeting and Economic Goals. Jurnal Ekonomi Malaysia 2001, vol. (35): 13-35.

     

    Article submitted to Journal in 2010 (under review)

    • Zulkefly Abdul Karim, Norain Mod Asri, Riayati Ahmad, & Norlin Khalid.  Hubungan antara pembiayaan fiskal dengan volatiliti kadar pertukaran : Bukti dmpirikal di Malaysia. Submitted to International Journal of Management Studies (IJMS).
    • Zulkefly Abdul Karim & Bakri Abdul Karim.  Stock Market Integration: Malaysia And Its Major Trading Partners. Submitted to Jurnal Ekonomi Pembangunan, UII.
    • Zulkefly Abdul Karim.  Institution and Foreign Direct Investment (FDI): Survey of the Literature.Submitted to Jurnal Ekonomi Pembangunan, UII.
    • Zulkefly Abdul Karim, Bakri Abdul Karim, & Riayati Ahmad. Fixed investment, household consumption, and economic growth : a structural vector error correction model (SVECM) study of Malaysia. Submitted to International Journal of Business & Society.
    • Zulkefly Abdul Karim. Monetary Policy and Firm-level Stock Returns in an Emerging Market: Dynamic Panel Evidence from Malaysia. Submitted to Asian Economic Journal.
    • Zulkefly Abdul Karim. Interest Rates Targeting of Monetary Policy: An open-economy  SVAR Study of Malaysia. Submitted to Asian Economic Journal.
    • Zulkefly Abdul Karim. Firm-level investment and monetary policy in Malaysia : do the interest rate and broad credit channels matter? Submitted to Manchester School. 
    • Zulkefly Abdul Karim. Monetary policy effects on sub-sector economy of investment spending: a firm-level study of Malaysia. Submitted to Empirical Economics.
    • Zulkefly Abdul Karim.  Foreign shocks, monetary policy, and macroeconomic fluctuations in a small open economy: a SVAR study of Malaysia. Submitted to Studies in Economics and Finance.
    • Bakri Abdul Karim, Zulkefly Abdul Karim. 2011. Integration of ASEAN-5 Stock Markets: A revisit. Submitted to Asian Academy of Management Journal of Accounting and Finance.

     

     

    • Selected Proceedings:
    • Abdul Ghafar Ismail, Mohd Azlan Shah Zaidi, Hairunnizam Wahid & Zulkefly Abdul Karim. 2002. Competition and Market Contestability In Malaysian Banking System, in Zamri Ahmad, Ruhani Ali & Subramaniam Pillay. Proceedings For The Fourth Annual Malaysian Finance Association Symposium: Globalization and Malaysian Financial Market: Strategies for Sustainable Growth, 427-435.
    • Mohd Azlan Shah Zaidi, Zulkefly Abdul Karim & Zurina Kefeli@Zulkefli. 2003. Performance of the Islamic and Conventional Unit Trust Funds In Malaysia: An Empirical Analysis,  dalam Ahmad Mohd Yusof, Abu Hassan Shaari Mohd Nor, Zaini Mahbar, Mohd Anuar Md. Amin, Mohd Ezani Md. Hassan & Zulkifli Mohd Nopiah (Pyt.). Proceeding National Conference Management Science And Operations Research 2003: Strategic Decision Making In Globalization Era, 245-258.
    • Zulkefly Abdul Karim & Fathin Faezah Said. 2003. Hedge Funds With Investment Style: Analysis of Risk and Return,  dalam Ahmad Mohd Yusof, Abu Hassan Shaari Mohd Nor, Zaini Mahbar, Mohd Anuar Md. Amin, Mohd Ezani Md. Hassan & Zulkifli Mohd Nopiah (Pyt.). Proceeding National Conference Management Science And Operations Research 2003: Strategic Decision Making In Globalization Era, 307-319
    • Zulkefly Abdul Karim, Mohd. Azlan Shah Zaidi & Zurina Kefeli. 2003. Financial Sector Development, Goverment Size, Trade Openness and Economic Growth: An Empirical Analysis In ASEAN-4 Countries, dalam Mohamed Saladin Abdul Rasool, Asmah Zainudin, Noraza Tukiran, Norzehan Abu Bakar, Nor Azizah Mohamad Amin & Salina Safian (Pyt.). Proceedings of the National Seminar on Managing Malaysia In the New Millenium: Economics and Business Challenges, organised by UiTM Campus Alor Gajah., Gempita Maju Sdn. Bhd., Kuala Lumpur 307-320.
    • Zuraidah Ismail, Norain Mod Asri, Zulkefly Abdul Karim,  Juliana Noor Kamaruddin & Noranita Abdamia. 2003. The Impact of Bond Rating Changes on Common Stock Market, dalam Mohamed Saladin Abdul Rasool, Asmah Zainudin, Noraza Tukiran, Norzehan Abu Bakar, Nor Azizah Mohamad Amin & Salina Safian (Pyt.). Proceedings of the National Seminar on Managing Malaysia in the New Millenium:Economics and Business Challenges, organised by UiTM Campus Alor Gajah., Gempita Maju Sdn. Bhd., Kuala Lumpur 291-306.
    • Mohd Azlan Shah Zaidi, Zurina Kefeli@Zulkifli & Zulkefly Abdul Karim. 2003. Exchange Rate Variability and Price Level Changes: A Causality Investigation for Malaysia, dalam Zulkefly Abdul Karim, Abdul Ghafar Ismail, Mohd Ali Md Nor, Jaafar Ahmad, Hairunnizam Wahid, Nafisah Mohammed, Azmafazilah Jauhari & Norain Mod Asri (Pyt.). Prosiding Seminar Kebangsaan: Dasar Awam Dalam Era Globalisasi: Penilaian Semula Ke Arah Pemantapan Strategi, Univision Press Sdn. Bhd., Kuala Lumpur. 199-208. 
    • Fathin Faizah Said, Zulkefly Abdul Karim & Ida Irdawaty Ibrahim. 2003. Volatility of Derivatives Market Before and After Economic Crisis, dalam Zulkefly Abdul Karim, Abdul Ghafar Ismail, Mohd Ali Md Nor, Jaafar Ahmad, Hairunnizam Wahid, Nafisah Mohammed, Azmafazilah Jauhari & Norain Mod Asri (Pyt.). Prosiding Seminar Kebangsaan: Dasar Awam Dalam Era Globalisasi: Penilaian Semula Ke Arah Pemantapan Strategi, Univision Press Sdn. Bhd., Kuala Lumpur 313-324.
    • Mohd Azlan Shah Zaidi, Zulkefly Abdul Karim & Zurina Kefeli. 2004. Persistence in Islamic Unit Trust Performance: Malaysia`s Experience, dalam Muhamad Muda, Zurina Kefeli @ Zulkefli, Nor Haziah Hashim & Fara Madehah Ahmad Farid. Proceedings National Seminar In Islamic Banking & Finance (iBAF) 2004: Global Challenges & Competitiveness Of Malaysian Financial Institutions. National Seminar In Islamic Banking & Finance (iBAF) 2004, KUIM. Intel Multimedia and Publication (iMAP), Petaling Jaya. 17-32.
    • Norain Mod Asri, Shahida Shahimi,Azrina Abdullah Al-Hadi & Zulkefly Abdul Karim. 2004. The Effect of Islamic Private Debt Securities Changes on Firm`s Common Stock Return, dalam Muhamad Muda, Zurina Kefeli @ Zulkefli, Nor Haziah Hashim & Fara Madehah Ahmad Farid. Proceedings National Seminar In Islamic Banking & Finance (iBAF) 2004: Global Challenges & Competitiveness Of Malaysian Financial Institutions. National Seminar In Islamic Banking & Finance (iBAF) 2004, KUIM. Intel Multimedia and Publication (iMAP), Petaling Jaya.  9-16.
    • Mustaza Mansur, Norain Md. Asri, Fathin Faizah & Zulkefly Abdul Karim. 2002. Financial Sector Master Plan: Implication to Human Capital Development in Domestic Banking, in Mohd. Azhar Abd. Hamid, Sanitah Mohd. Yusof, Paimah Atoma & Rozeyta Omar (editor). Proceeding National Seminar Pengurusan & Pembangunan Sumber Manusia : Keendahan Pengurusan dan Pembangunan Sumber Manusia Pemangkin Pembangunan Negara. Universiti Teknologi Malaysia, Skudai 291-305.
    • Aminudin Mokhtar & Zulkefly Abdul Karim. 2003. The Influence of Monetary Aggregate on Term Structure of Interest Rates, in Ahmad Mohd Yusof, Abu Hassan Shaari Mohd Nor, Zaini Mahbar, Mohd Anuar Md. Amin, Mohd Ezani Md. Hassan & Zulkifli Mohd Nopiah (editor). Proceeding National Conference Management Science and Operations Research 2003: Strategic Decision Making In Globalization Era , 227-243.
    • Zulkefly Abdul Karim, Aminudin Mokhtar, Mohd. Azlan Shah Zaidi & Mustazar Mansur. 2003. Relationship Between Revenues and Spending: Empirical Evidence in Federal and State Government in Malaysia, in Zulkefly Abdul Karim, Abdul Ghafar Ismail, Mohd Ali Md Nor, Jaafar Ahmad, Hairunnizam Wahid, Nafisah Mohammed, Azmafazilah Jauhari & Norain Mod Asri (editor). Proceedings National Seminar: Public Policy in Globalization Era: New Assessment Towards Strategy Establishment, Univision Press Sdn. Bhd., Kuala Lumpur. 219-236.
    • Zulkefly Abdul Karim, Norain Mod Asri & Azmafazilah Jauhari. 2003. The Effect of Financial Sector Liberalization on Economics Growth in ASEAN-3 Countries, in Zulkefly Abdul Karim, Abdul Ghafar Ismail, Mohd Ali Md Nor, Jaafar Ahmad, Hairunnizam Wahid, Nafisah Mohammed, Azmafazilah Jauhari & Norain Mod Asri (editor). Proceedings National Seminar: Public Policy in Globalization Era: New Assessment Towards Strategy Establishment, Univision Press Sdn. Bhd., Kuala Lumpur. 299-312.
    • Azrina Abdullah Al-Hadi, Norain Mod Asri, Shahida Shahimi & Zulkefly Abdul Karim. 2003. Towards Kedah Advance State by the Year 2010: Challenging Improvement in State Government Fiscal, in Abu Sufian Abu Bakar, Fatimah Wati Ibrahim & Nur Azura Sanusi (editor). Proceeding National Seminar Kedah Advance State by the year 2010 : To Generate Dynamics Economic Development and Balance, Univision Press Sdn. Bhd., 263-286.
    • Zulkefly Abdul Karim, Mohd Azlan Shah Zaidi, Hairunizam Wahid & Abdul Ghafar Ismail. 2004. Monetary Aggregate and the Structure Rates Of Nominal Return Corporate Bond: Empirical Evidence in Malaysia. Proceedings UNITEN International Business Management Conference 2004: Managing Globalised Businesses: Trends, Issues and Challenges. 647-660.
    • Zetty Zahureen Mohd. Yusoff, Norain Mod Asri, Zulkefly Abdul Karim & Azrina Abdullah Al-Hadi. 2004. The Relationship Between Federal Government Revenue and Spending: Empirical Evidence From ASEAN-5 Countries. Proceedings UNITEN International Business Management Conference 2004: Managing Globalised Businesses: Trends, Issues and Challenges. 477-491.
    • Mohd Azlan Shah Zaidi, Zulkefly Abdul Karim & Zurina Kefeli. 2004. Persistence in Islamic Unit Trust Performance: Malaysia`s Experience, dalam Muhamad Muda, Zurina Kefeli @ Zulkefli, Nor Haziah Hashim & Fara Madehah Ahmad Farid. Proceedings National Seminar In Islamic Banking & Finance (iBAF) 2004: Global Challenges & Competitiveness Of Malaysian Financial Institutions. National Seminar In Islamic Banking & Finance (iBAF) 2004, KUIM. Intel Multimedia and Publication (iMAP), Petaling Jaya, 17-32.
    • Norain Mod Asri, Shahida Shahimi,Azrina Abdullah Al-Hadi & Zulkefly Abdul Karim. 2004. The Effect of Islamic Private Debt Securities Changes on Firm`s Common Stock Return, dalam Muhamad Muda, Zurina Kefeli @ Zulkefli, Nor Haziah Hashim & Fara Madehah Ahmad Farid. Proceedings National Seminar In Islamic Banking & Finance (iBAF) 2004: Global Challenges & Competitiveness Of Malaysian Financial Institutions. National Seminar In Islamic Banking & Finance (iBAF) 2004, KUIM. Intel Multimedia and Publication (iMAP), Petaling Jaya, 9-16.
    • Zulkefly Abdul Karim, Mohd. Azlan Shah Zaidi & Hairunizam Wahid. 2004.Pendapatan dan Sasaran Perbelanjaan Dana Zakat di Negeri Kedah, Perak, Selangor dan negeri Sembilan: Isu dan Cabaran, dalam Hailani Muji Tahir, Abd. Ghafar Ismail & Zamzuri Zakaria (Pyt.). Prosiding Muzakarah Pakar Zakat, Kumpulan Kajian Zakat UKM.Univision Press Sdn. Bhd., 79-94.
    • Aminudin Mokhtar, Zulkefly Abdul Karim & Mohd. Azlan Shah Zaidi. 2004. Hubungan antara Penggunaan dan Keterbukaan Ekonomi dengan Pertumbuhan Ekonomi: Aplikasi Model Struktur Jangka Panjang di Malaysia, dalam Nor Aini Hj. Idris, Poo Bee Tin, Zulkefly Abdul Karim, Fariza Ahmad & Noorasiah Sulaiman (Pyt.). Prosiding Seminar Kebangsaan MACFEA Ke-9: Penggunaan Domestik dan Perdagangan Pemacu Pertumbuhan Ekonomi Negara.Univision Press Sdn. Bhd., 165-180.
    • Azrina Abdullah Al-Hadi, Zulkefly Abdul Karim, Norain Mod Asri & Wook Endut. 2004. Pengaruh Kadar Faedah Pinjaman Terhadap Permintaan Kredit Sektor Penggunaan dan Pelaburan: Bukti Empirikal di Bank Perdagangan dan Syarikat Kewangan, dalam Nor Aini Hj. Idris, Poo Bee Tin, Zulkefly Abdul Karim, Fariza Ahmad & Noorasiah Sulaiman (Pyt.). Prosiding Seminar Kebangsaan MACFEA Ke-9: Penggunaan Domestik dan Perdagangan Pemacu Pertumbuhan Ekonomi Negara.Univision Press Sdn. Bhd., 197-216.
    • Zulkefly Abdul Karim, Norain Mod Asri & Mohd Adib Ismail. 2004. Kesan Langsung Agregat Kewangan terhadap Penggunaan dan Pelaburan di Malaysia, dalam Nor Aini Hj. Idris, Poo Bee Tin, Zulkefly Abdul Karim, Fariza Ahmad & Noorasiah Sulaiman (Pyt.). Prosiding Seminar Kebangsaan MACFEA Ke-9: Penggunaan Domestik dan Perdagangan Pemacu Pertumbuhan Ekonomi Negara.Univision Press Sdn. Bhd., 277-296.
    • Zulkefly Abdul Karim, Mohd Azlan Shah Zaidi & Norain Mod Asri. 2004. Pembangunan Sektor Kewangan dan Pertumbuhan Sektor-Sektor Ekonomi: Bukti Empirikal di Malaysia, dalam Doris Padmini Selvaratnam, Poo Bee Tin & Mohd. Nasir Mohd. Saukani (Pyt.). Pascasidang Seminar Kebangsaan Fakulti Ekonomi dan Perniagaan 2004: Daya Saing Ekonomi dan Sosial Ke Arah Pemantapan Pembangunan Ekonomi. Univision Press Sdn. Bhd., 327-344.
    • Norain Mod Asri, Zulkefly Abdul Karim & Azrina Abdullah Al-Hadi. 2004.Kesan Kemudahubahan (Volatility) Kadar Pertukaran Asing dan Penawaran Wang terhadap Sektor Luaran di Malaysia, dalam Doris Padmini Selvaratnam, Poo Bee Tin & Mohd. Nasir Mohd. Saukani (Pyt.). Pascasidang Seminar Kebangsaan Fakulti Ekonomi dan Perniagaan 2004: Daya Saing Ekonomi dan Sosial Ke Arah Pemantapan Pembangunan Ekonomi. Univision Press Sdn. Bhd., 371-388.
    • Mohd Azlan Shah Zaidi, Zurina Kefeli @ Zulkefli & Zulkefly Abdul Karim. 2004. Kemudahubahan Kadar Pertukaran dan Perubahan Regim Kadar Pertukaran: Kesan ke Atas Eksport Malaysia ke Negara Rakan Dagang Utama, dalam Doris Padmini Selvaratnam, Poo Bee Tin & Mohd. Nasir Mohd. Saukani (Pyt.). Pascasidang Seminar Kebangsaan Fakulti Ekonomi dan Perniagaan 2004: Daya Saing Ekonomi dan Sosial Ke Arah Pemantapan Pembangunan Ekonomi. Univision Press Sdn. Bhd., 389-410.
    • Zulkefly Abdul Karim, Aminudin Mokhtar & Norain Mod Asri. 2005. Hubungan Antara Hasil Dengan Perbelanjaan Kerajaan: Bukti Empirikal Kerajaan Negeri Di Semenanjung Malaysia, dalam Prosiding Seminar Kebangsaan Sosio Ekonomi dan It ke-3, anjuran Pusat Penyelidikan dan Perundingan, Universitu Utara Malaysia, 2005. (CD ISBN: 983-3282-50-4, PPP UUM.
    • Mohd. Azlan Shah Zaidi, Mansor Jusoh & Zulkefly Abdul Karim. 2005. Hubungan Variabiliti Harga Relatif Dan Inflasi Antara Wilayah Di Malaysia, dalam Prosiding Seminar Kebangsaan Sosio Ekonomi dan It ke-3, anjuran Pusat Penyelidikan dan Perundingan, Universitu Utara Malaysia, 2005. (CD ISBN: 983-3282-50-4, PPP UUM)
    • Zulkefly Abdul Karim & Norain Mod Asri. 2005. Hubungan Kadar Wang Semalaman Antara Bank Konvensional Dengan Bank Islam: Bukti Empirikal Di Malaysia, dalam Abu Sufian Abu Bakar dan Nur Azura Sanusi (Pyt.). Prosiding Seminar Ekonomi dan Kewangan Islam 2005: Pengukuhan dan Transformasi Ekonomi dan Kewangan Islam, Univision Press Sdn. Bhd., Kuala Lumpur, 477-484.
    • Zulkefly Abdul Karim, Aminudin Mokhtar & Norain Mod Asri. 2005. Hipotesis Belanjawan: Kajian Kes Di Negeri Sembilan, Selangor, Melaka dan Johor, dalam Abd. Hair Ewang et al (Pyt.). Prosiding Seminar Kebangsaan “Keharmonian Hidup Imbangan Alam dan Pembangunan, anjuran Pusat Pengajian Sosial, Pembangunan dan Persekitaran, FSSK UKM pada 05-06 September 2005.
    •  Zulkefly Abdul Karim, Norain Mod Asri dan Wook Endut. 2005.  Hubungan Antara Penggunaan Domestik, Indeks Harga Pengguna dan Keluaran Dalam Negara Kasar: Bukti Empirikal di Malaysia, dalam Doris Padmini Selvaratnam, Wook Endut, Norlaila Abu Bakar, Zulkefly Abdul Karim & Mohd Azlan Shah Zaidi (Pyt.). Prosiding Seminar Kebangsaan MACFEA ke 10: Ke Arah Pengguna dan Pengeluar yang Bertanggungjawab, anjuran MACFEA, KPDN & HEP dan UPM, pada 20 September 2005 Palm Garden Hotel Putrajaya: 28-46. (Cakera Padat ISBN:983-42764-0-0.
    • Mohd. Azlan Shah Zaidi, Zulkefly Abdul Karim & Zurina Kefeli @ Zulkefli. 2005. Hubungan Antara Indeks Harga Pengguna (CPI) dengan Indeks Harga Pengeluar (CPI): Bukti Empirikal di Malaysia, dalam Doris Padmini Selvaratnam, Wook Endut, Norlaila Abu Bakar, Zulkefly Abdul Karim & Mohd Azlan Shah Zaidi (Pyt.). Prosiding Seminar Kebangsaan MACFEA ke 10: Ke Arah Pengguna dan Pengeluar yang Bertanggungjawab, anjuran MACFEA, KPDN & HEP dan UPM, pada 20 September 2005 Palm Garden Hotel Putrajaya: 201-208. (Cakera Padat ISBN:983-42764-0-0.
    • Mustaza Mansur, Zulkefly Abdul Karim, Norain Mod Asri & Fathin Faezah Md. Said. 2007. Implikasi Pembangunan Modal Manusia Dalam Sektor Perbankan Tempatan: kajian Kes Di Malaysia. Akademika, Vol. 11, No.2, Aptisi Bandung Indonesia. (akan terbit)


    Selected Chapters in Books

    •  Rohaini Mustafa & Zulkefly b Abdul Karim. 1998. Chapter 8 Balance of Payment, in Abdul Ghafar Ismail & Md. Zyadi Md. Tahir (editor). Malaysian Macroeconomy: Policy Perspectives. Penerbit UKM, Bangi, 206-247
    •  Zulkefly Abdul Karim, Mohd. Azlan Shah Zaidi & Zurina Kefeli @ Zulkefli. 2004. The Role of Monetary Factors on Agriculture Performance in Malaysia, in Mohd. Fauzi Mohd. Jani, Zaimah Darawi, Mohaini Tajuddin, Norlida Hanim Mohd Salleh, Basri Abdul Talib, Nik Hashim Nik Mustapha, Mohd Azlan Shah Zaidi & Nafisah Mohammed (editor).  Trade Liberalization and Malaysian Agriculture Sector, Univision Press Sdn. Bhd., Kuala Lumpur, 333-353.
    • Zulkefly Abdul Karim, Mohd Azlan Shah Zaidi & Hairunnizam Wahid. 2004. Collection and Distribution Target of Zakah Fund in State Government of Kedah, Perak, Selangor dan Negeri Sembilan: Issue and Challenges, in Hailani Muji Tahir dan Abd. Ghafar Ismail. “Zakat: Pensyariatan, Perekonomian dan Perundangan”. Penerbit Universiti Kebangsaan Malaysia, Bangi, 126-146.
    • Azrina Abdullah Al-Hadi, Norain Mod Asri, Shahida Shahimi & Zulkefly Abdul Karim. 2004. Towards Kedah Advance State by the Year 2010: Challenging Improvement in State Government Fiscal, Chapter 10 in “Buku Kedah Maju Menjelang Tahun 2010”, Universiti Utara Malaysia.  (forthcoming).
    • Zulkefly Abdul Karim  & Norain Mod Asri. 2004. The Role of Financial Sector on Development of Economic Sectors in Malaysia: An Assessment. “Buku Siri Ekonomi Semasa, Ekonomi Malaysia Pasca Industri, Penerbit UKM. (forthcoming).

     

     

     

    Stock Market Integration: Malaysia And Its Major Trading Partners

  • Contact Information :
    - Address
      SCHOOL OF ECONOMICS
      FACULTY OF ECONOMICS & BUSINESS
      Universiti Kebangsaan Malaysia
      43600 UKM Bangi
      Selangor
      Malaysia
    - Phone Number
      3457
    - Fax Number
      03-89213161
    - E-mail - Website