Michael Meow-Chung Yap

Contact

• workRoom EB22 Block E, Nottingham University Business School
  Malaysia Campus
  Jalan Broga
  43500 Semenyih
  Selangor Darul Ehsan
  Malaysia
• work+6 (03) 8924 8265
• fax+6 (03) 8924 8019
• michael.yap@nottingham.edu.my

Biography

Dr. Michael Yap obtained his PhD in Economics from the National University of Singapore (NUS). He has previously taught in the Business School at Monash University and Taylor's University. Apart from academia, he has also worked as an economist-investment analyst in stockbroking, as well as being Senior Research Fellow and Head of the Macroeconomics and Forecasting Division in the Malaysian Institute of Economic Research, an independent economic think-tank. Dr. Yap also has consultancy experience and has worked as Manager in the Economics Department of the Malaysian central bank, Bank Negara Malaysia (BNM). He was a Visiting Fellow in the Economics Division, Research School of Pacific and Asian Studies, Australian National University. He is also a Fellow of the UK Higher Education Academy. Away from work, Michael spends his time reading and listening to music, and is also keen on photography. He is also a sports fan (football, tennis, athletics, rugby union, hockey) and an IT gadget enthusiast.

Teaching Summary

Dr. Michael Yap currently teaches the following courses in Nottingham University Business School:

• Introduction to Economics
• Economic Principles
• Firm Strategy and Internationalisation

He has also taught in the following areas: international business environment, international trade, international economics, Malaysian economy, monetary economics, and money and banking.

Research Summary

Dr. Michael Yap's research interests are in the areas of monetary policy, macroeconomics, foreign direct investment, international trade, development and the Malaysian economy. Some of his current… read more

Selected Publications

• M.M.C. YAP, E. DOGAN and K.N. WONG, 2017. Vertical and Horizontal Spillovers from Foreign Direct Investment: Evidence from Malaysian Manufacturing Asian Economic Papers. 16(3), 158-183
• R. RAJAH, M.M.C. YAP and C. SANTHA, 2014. Monetary Economics Oxford University Press.
• YAP, M.M.C., DOGAN, E. and WONG, K.N., 2013. Turnover, Ownership and Productivity in Malaysian Manufacturing Journal of the Asia Pacific Economy. 18(1),
• YAP M.M.C., DOGAN E. and WONG K.N., 2012. Plant Size, Turnover and Productivity: Evidence from Malaysian Manufacturing The Empirical Economics Letters. 11(9),

• View all publications

Current Research

Dr. Michael Yap's research interests are in the areas of monetary policy, macroeconomics, foreign direct investment, international trade, development and the Malaysian economy. Some of his current research projects are in the areas of FDI in Malaysia, manufacturing productivity in Malaysia, monetary policy, and international trade.

Past Research

Some of Dr. Yap's past work involved consultancy. Selected projects include the following:

1. Second Industrial Master Plan (IMP2) 1996-2005: The Ministry of International Trade and Industry (MITI) commissioned the Malaysian Institute of Economic Research (MIER) as lead consultant in developing the IMP2. The Plan charted the strategic directions for industrial planning in the next ten years in Malaysia. Group Leader for rubber-based industries and also participated in the advanced-materials group.

2. Project on Knowledge-Based Economy: As part of a private sector consultancy team in 2003 for a public sector project on the 'Knowledge-Based Economy'. The work involved constructing and analysing relevant indices related to the 'New Economy' for a number of countries in the APEC (Asia Pacific Economic Cooperation) region. This formed part of the whole study entitled 'Preparing Human Resources for the New Economy', which was conducted under the APEC Human Resource Development Working Group. The study was coordinated by the Economic Planning Unit, Prime Minister's Department.

3. Long-Term Economic Projection for electricity generating company: As part of its long-term planning exercise, an electricity generating company employed various methodologies to determine short, medium and long-term electric load forecasts. Crucial to these projections are the assumptions on economic growth in the country and the various sectors under alternative scenarios. To strengthen and refine the end-use energy and electricity demand models, the company commissioned MIER to provide economic forecasts at a sufficient level of disaggregation over a ten-year rolling period under various scenarios. Team Leader and Co-Principal Researcher.

4. Kuala Lumpur Stock Exchange Study: This project studied the effects of new and seasoned issues on the liquidity of the stock exchange. Of particular concern was the impact of new listings and rights issues on trading volume. This was especially evident in 1990-91 with a sharply higher number of new equity issues corresponding with a decline in the trading volume on the exchange. This happened despite the buoyant economy. In view of this, it was important to obtain some insight into the correlation of new and rights issues with market liquidity.

5. Forecasting Passenger Car Demand: A private sector company commissioned MIER to maintain an econometric model for passenger car demand for short-term and long-term forecasting. The total industry forecast was disaggregated into the various engine categories. Estimated price and income elasticities of demand were used for marketing strategies. The project also involved conducting a survey of car owners to obtain a better understanding of the car market in terms of customer profile, purchasing power and market tastes. Co-Principal Researcher and Project Manager.

6. Study on Japanese Economic Co-operation with Malaysia: Commissioned by the Institute of Developing Economies (IDE) in Japan, the main objective of the study was to assess and re-examine the nature and methods of economic co-operation the Japanese have been providing, particularly official development assistance (ODA). The study covered six areas - (i) analysis of the National Development Policy (NDP) which was embodied in the Second Outline Perspective Plan (OPP2) 1991-2000, and the Sixth Malaysia Plan 1991-95 which covered the first half of the OPP2; (ii) analysis of macroeconomic trends in Malaysia; (iii) trends of direct investment and future tasks; (iv) direction of privatisation and related problems; (v) manpower development; and (vi) desirable ways of regional co-operation.

• YAP, MICHAEL MEOW-CHUNG, 2023. Malaysia: Economy. In: EUROPA PUBLICATIONS, ed., The Far East and Australasia 2024 55. Routledge.
• LEE, M.W., YAP, M.M.C. and GOH, K.L., 2022. Malaysian Domestic Bond Market Experience: Lessons for Emerging Economies Capital Markets Review. 30(2), 1-18
• YAP, M.M.C., 2022. Malaysia: Economy. In: The Far East and Australasia 2023 54. Routledge.
• MICHAEL MEOW-CHUNG YAP, 2021. Malaysia: Economy. In: EUROPA PUBLICATIONS, ed., The Far East and Australasia 2022 53. Routledge.
• M.M.C. YAP, 2020. Malaysia: Economy. In: The Far East and Australasia 2021 (Part of Europa World Plus) 52. Routledge.
• YAP, M.M.C., GOH, K.L. and LEE, M.W., 2019. The Malaysian Domestic Bond Market: Growing into its Rightful Role Capital Markets Review. 27(1), 34-52
• YAP, M.M.C., 2019. Malaysia: Economy. In: The Far East and Australasia 2020 (Part of Europa World Plus) 51. Routledge. 537-544
• YAP, M.M.C., 2018. Malaysia: Economy. In: The Far East and Australasia 2019 (Part of Europa World Plus) 50. Routledge.
• M.M.C. YAP, E. DOGAN and K.N. WONG, 2017. Vertical and Horizontal Spillovers from Foreign Direct Investment: Evidence from Malaysian Manufacturing Asian Economic Papers. 16(3), 158-183
• R. RAJAH, M.M.C. YAP and C. SANTHA, 2014. Monetary Economics Oxford University Press.
• M.M.C. YAP, 2014. Openness and Growth in Malaysia: Past Performance and Challenges for the Future The Journal of Diplomacy and Foreign Relations. 14(2),
• YAP, M.M.C., DOGAN, E. and WONG, K.N., 2013. Turnover, Ownership and Productivity in Malaysian Manufacturing Journal of the Asia Pacific Economy. 18(1),
• YAP M.M.C., DOGAN E. and WONG K.N., 2012. Plant Size, Turnover and Productivity: Evidence from Malaysian Manufacturing The Empirical Economics Letters. 11(9),
• YAP, M.M.C. and PARINDURI, R.A., 2012. The Effects of Trade Liberalization on Production Networks In: GEP Conference: Trade, Investment and Production Networks in Asia 2012.
• YAP, M.M.C., DOGAN, E. and WONG, K.N., 2011. Does Exporter Turnover Contribute to Aggregate Productivity Growth? Evidence from Malaysian Manufacturing The World Economy. 34(3), 424-443
• YAP, M.M.C. and KWEK, K.T., 2011. Monetary Policy and Financial Sector Development. In: HILL, H., THAM, S.Y. and RAGAYAH, M.Z., eds., Malaysia's Development Challenges: Graduating From the Middle Routledge.
• YAP, M.M.C., DOGAN, E. and WONG, K.N., 2010. Turnover, Ownership and Productivity in Malaysian Manufacturing At: Discussion Paper 13/10, Department of Economics, Monash University
• YAP, M.M.C., 2009. Assessing Malaysia’s Business Cycle Indicators At: Discussion Paper 04/09, Department of Economics, Monash University
• YAP, M.M.C., 2002. P-star, Exchange Rate Regime and Inflation Determination: the Malaysian Case Journal of the Asia Pacific Economy. 7(3), 379-407
• YAP, M.M.C. and ARIFF, M., 2001. Malaysia: Financial Crisis in Malaysia. In: YU, T.S. and XU, D., eds., From Crisis to Recovery: East Asia Rising Again? Singapore: World Scientific.
• YAP, M.M.C., 2001. The 1997 Currency Crisis and Subsequent Policy Response. In: BARLOW, C., ed., Modern Malaysia in the Global Economy: Political and Social Change into the 21st Century Edward Elgar.
• YAP, M.M.C., 2000. Potential Output of the Malaysian Economy: Evaluating the Production Function Approach At: MIER Working Paper, Malaysian Institute of Economic Research
• YAP, M.M.C., 2000. Potential Output and the P-star Model: Guideposts for Monetary Policy In: National Economic Outlook 2001 Conference.
• YAP, M.M.C., 1999. Financial Crisis in Malaysia: Adjustment Through Unorthodox Policy In: ‘Malaysia Forum’, Economics Division, Research School of Pacific and Asian Studies, Australian National University, Canberra.
• YAP, M.M.C., ARIFF, M. and TAN, E.L., 1998. The Financial Crisis and Its Social Impact on Malaysia In: NICC-ACE Workshop on the Financial Crisis and Its Social Impact on ASEAN, Cebu, Philippines.
• YAP, M.M.C., ARIFF, M., AZIDIN, W.A.K., ONG, G.E. and TAN, E.L., 1998. Currency Turmoil and the Malaysian Economy: Genesis, Prognosis and Response Malaysian Institute of Economic Research.
• YAP, M.M.C., SAMUDRAM, M. and TAI, B., 1997. Long-Term Outlook of the Malaysian Economy In: Workshop on Projections for Asian Industrialising Region, Institute of Developing Economies, Tokyo.
• YAP, M.M.C., SAMUDRAM, M. and TAI, B., 1996. A Long-Term Projection of the Malaysian Economy - Prospects and Concerns In: Workshop on Projections for Asian Industrialising Region, Institute of Developing Economies, Tokyo.
• YAP, M.M.C. and CHAN, H.C., 1996. Fuelling the Malaysian Economy At: Working Paper, International and Development Studies, John Deutsch Institute for the Study of Economic Policy, Queen’s University, Kingston, Ontario, Canada
• YAP, M.M.C. and SULAIMAN, M., 1996. External Financing Challenge In: National Convention on Seventh Malaysia Plan: Productivity Growth for Sustained Development.
• YAP, M.M.C. and TAI, B., 1996. MIER’s Consumer Sentiments Index - A Summary of Trends Over the Past Eight Years In: National Seminar on Malaysian Consumer and Family Economics.
• YAP, M.M.C. and CHAN, H.C., 1995. Pressures of High Growth on the Current Account Balance In: 1995 National Outlook Conference.
• YAP, M.M.C., 1995. Long-Term Economic Prospects in Malaysia and Areas of Concern In: Fifth Tun Razak Conference, Ohio University, Athens, Ohio.
• YAP, M.M.C., 1995. Industrial Restructuring and Growth Prospects In: International Business Leaders Roundtable, Melbourne, Australia, organised by the Committee for Economic Development of Australia.
• YAP, M.M.C. and SAMUDRAM, M., eds., 1994. Proceedings of the First Malaysian Econometric Conference: 6-7 April 1993, Kuala Lumpur Malaysian Institute of Economic Research.
• YAP, M.M.C., CHAN, H.C., PANG, T.W. and SAMUDRAM, M., 1994. Long-Term Forecast of the Malaysian Economy, 1995-2000 In: 1994 National Outlook Conference.
• YAP, M.M.C. and CHAN, H.C., 1994. Fuelling the Malaysian Economy: Pressures on Energy Demand in a High Growth Environment In: 1994 National Outlook Conference.
• YAP, M.M.C. and SULAIMAN, M., 1994. Inflationary Pressures in Malaysia: The Present Situation and Areas of Concern In: National Seminar: The Fight Against Inflation - What Can Consumers Do?, organised by the Malaysian Economic Association.
• YAP, M.M.C., 1994. Investigating the Dynamics of Inflation in Malaysia - A Vector Autoregression Approach At: MIER Discussion Paper, Malaysian Institute of Economic Research
• YAP, M.M.C., SAMUDRAM, M. and AZIDIN, W.A.K., 1993. A Vector Autoregression Approach in Modelling the Malaysian Economy In: First Malaysian Econometric Conference.
• YAP, M.M.C. and KAMAL, S., 1993. Sustaining Economic Growth in the Reformed Global Market In: Ninth Accountants Conference, organised by the Malaysian Institute of Accountants.
• YAP, M.M.C., KAMAL, S., DANARAJ, N, and PARAMJIT, S., 1993. Economic Outlook to the year 2000 and Telecommunications Infrastructure Development: The Case of Malaysia In: Conference on Economic Growth and Importance of Information-Telecommunications Infrastructure in Asia, Tokyo, organised by the Institute for Posts and Telecommunications Policy, Ministry of Posts and Telecommunications, Japan.
• YAP, M.M.C. and KAMAL, S., 1993. The Malaysian Economy and Investment Outlook in the 1990s In: National Housing and Property Conference.
• YAP, M.M.C., GAN, W.B., SAMUDRAM, M. and GONG, M., 1993. Evaluating the Ringgit Fundamental Equilibrium Exchange Rate In: 1993 National Outlook Conference.
• YAP, M.M.C., KAMAL, S., CHAN, H.C., PANG, T.W. and CHUA, C.P., 1991. Ten-Year Projection, 1991-2000: Can Second Outline Perspective Plan Targets Be Met and How? In: 1991 National Outlook Conference.