![]() ![]() policy variables chosen in the study are: money supply M1, M2 and M3, Treasury bill rate and real effective exchange rate. In the analysis, we adopt the standard cointegration, causality tests and error correction models. The focus of the paper is to empirically investigate the link between the monetary policy variables and the mean of stock returns. ![]() This article analyses short run and long run dynamics between monetary policy and Islamic stock market in Malaysia during January 1992 until April 2004. ![]() The paper also discusses the reaction of the people of Sabah to the formation of Malaysia plan as well as the challenge Sabah has to face in the establishment of the Federation of Malaysia. The involvement of Sabah in the establishment of the Federation of Malaysia clarified with an explanation of the role of some bodies that are directly involved in the formation of Malaysia such as Malaysia Solidarity Consultative Committee, the Cobbold Commission and the Intergovernmental Committee (JAK). This paper discusses the recommendations of the initial formation of Malaysia as well as factors of formation of the Federation of Malaysia. For Sabah, the sacrifice of its people to consider the proposed formation of Malaysia is a good thing that can help in the growth and development of the state. Much has been made such as making negotiations and also held a dialogue session to bring forward the proposal. Forming a nation is a very difficult task because it requires a lot of sacrifice in terms of energy, money and time. ![]()
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