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Cadangan model teoritikal bagi menilai kecekapan pelaburan dalam pembangunan Tanah Rizab Melayu

Md. Nor, Nor Ghani and Zaidi, Mohd Azlan Shah and Abdullah, Ahmad Zainuddin (1999) Cadangan model teoritikal bagi menilai kecekapan pelaburan dalam pembangunan Tanah Rizab Melayu. Pertanika Journal of Social Sciences & Humanities, 7 (2). pp. 97-102. ISSN 0128-7702; ESSN: 2231-8534

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Abstract

The Malay Reserve (land) accounts for 33.55% of productive land in Malaysia. Unfortunately, several studies have shown that the owners of such a massive source of productive resource are not able to develop its full economic potential. The solution to this inefficient utilisation of resource requires a theory capable of explaining the source of the problem. Even though several ideas have been put forward to explain this phenomenon, few if any, are based on rigorous economic theory. This paper proposes a simple (but rigorous) theory to explain why economically rational owners of the Malay Reserve land make suboptimal investment for the development of their land. In doing so, the theory explains the underdevelopment of the Malay Reserve land. It was found that transaction cost and opportunism arising from multiple ownership and small numbers bargaining are the major factors contributing to underdevelopment of Malay Reserve land.

Item Type:Article
Keyword:Malay Reserve land; Opportunity; Optimal investment; Transaction cost
Faculty or Institute:Faculty of Economics and Management
Publisher:Universiti Putra Malaysia Press
ID Code:3220
Deposited By: Nur Izyan Mohd Zaki
Deposited On:24 Nov 2009 15:40
Last Modified:10 Sep 2015 15:15

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