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Jurnal Ekonomi Malaysia

50 (2) 2016 133 – 142

Pelarian Dana: Bukti Baharu Peranan Modal Manusia
Capital Flight: New Evidence on the Role of Human Capital

Pusat Pengajian Ekonomi
Fakulti Ekonomi dan Pengurusan
Universiti Kebangsaan Malaysia
MALAYSIA

tamat@ukm.edu.my

Pusat Pengajian Ekonomi
Fakulti Ekonomi dan Pengurusan
Universiti Kebangsaan Malaysia
MALAYSIA

ahassan@ukm.edu.my

Pusat Pengajian Ekonomi
Fakulti Ekonomi dan Pengurusan
Universiti Kebangsaan Malaysia
MALAYSIA

azlan@ukm.edu.my

Pusat Pengajian Ekonomi
Fakulti Ekonomi dan Pengurusan
Universiti Kebangsaan Malaysia
MALAYSIA

umarbasar@gmail.com

Abstract

Many studies have been initiated to investigate issues of capital flight since early 1980s. However, the studies focused mainly on fine-tuning the calculation method and major causes of capital flight. This study takes a step further by proposing human capital factor to moderate the negative impacts of economic risk and institutional risk to the capital flight. The purpose of this paper is to examine the relationship between the capital flight and human capital using dynamic panel system. The result shows that the estimated coefficient of human capital has a negative relationship with the capital flight activities. This finding explains that human capital can reduce the intensity of capital flight by increasing the confidence of investors to invest and maintain existing investments. Thus strengthening of human capital should be a priority in curbing capital flight problem.

Keywords

Capital Flight; Dynamic Panel; human capital

Author’s Acknowledgement

Penulis ingin mengucapkan ribuan terima kasih kepada Kementerian Pengajian Tinggi atas sumbangan dana di bawah kod projek Geran Penyelidikan FRGS UKM, UKMEP-05-FRGS0168-2010.

http://dx.doi.org/10.17576/JEM-2016-5002-11
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Bibliography

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Sarmidi, , Mohd Nor, , Zaidi, , & Abdul Basar, (2016). Pelarian Dana: Bukti Baharu Peranan Modal Manusia. Jurnal Ekonomi Malaysia, 50(2), 133–142. http://dx.doi.org/10.17576/JEM-2016-5002-11

@article{sarmidi2016pelarian,
  title={Pelarian Dana: Bukti Baharu Peranan Modal Manusia},
  author={Sarmidi, Tamat and Mohd Nor, Abu Hassan Shaari and Zaidi, Mohd Azlan Shah and Abdul Basar, Umar},
  journal={Jurnal Ekonomi Malaysia},
  volume={50},
  number={2},
  pages={133—142},
 

year={2016},
}

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