LEADER 04079nam 2200517 450 001 9910554250103321 005 20230629231022.0 010 $a3-11-058802-1 010 $a3-11-059118-9 024 7 $a10.1515/9783110591187 035 $a(CKB)5400000000010123 035 $a(MiAaPQ)EBC6945180 035 $a(Au-PeEL)EBL6945180 035 $a(DE-B1597)492690 035 $a(DE-B1597)9783110591187 035 $a(EXLCZ)995400000000010123 100 $a20221113d2021 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aTowards a sustainable fiscal position for Malaysia $ea proposal for reform /$fAzura Othman 210 1$aBerlin, Germany :$cWalter de Gruyter GmbH,$d[2021] 210 4$dİ2021 215 $a1 online resource (147 pages) 225 1 $aDe Gruyter studies in Islamic economics, finance and business ;$vVolume 11 311 $a3-11-058779-3 320 $aIncludes bibliographical references and index. 327 $tFrontmatter -- $tPreface -- $tContents -- $t1 Introduction -- $t2 Fiscal Policy and Sustainability -- $t3 Studies on Fiscal Sustainability -- $t4 Data Description and Modelling -- $t5 Empirical Analysis -- $t6 Policy Recommendation -- $tReferences -- $tList of Figures -- $tList of Tables -- $tAppendix A Implementation of GST in Malaysia -- $tAppendix B Sources of Data -- $tAppendix C Derivation of Fiscal Sustainability Index -- $tAppendix D Islamic Worldview of the Economy -- $tAbout the Author -- $tIndex 330 $aThe financial crisis of the last decade has brought to the fore many discourses on the stability of the financial system under the current interest rate regime and whether issuing more debts, that create further divergence between the financial and real sector of the economy, is a sustainable solution to the ensuing debt crisis that followed. Invigoratingeconomic development may need more than just achieving mere growth in GDP numbers and other mainstream macroeconomic key performance indices. Social equity, environmental conservation, inclusive development, and equitable income distribution are concepts that are increasingly given more weight in the measurement of economic development. The onset of the pandemic of the current decade has further emphasized the importance of these considerations as well as the concept of sharing of risks and return. This book analyses the past and current fiscal situation in Malaysia and identifies areas of improvements in the current tax system and public sector financing in generating the required revenue and financing government expenditure. The alternative fiscal framework proposed in this book covers a tax structure that features a simple and fairer tax system that is based on the ability to pay and public financing which is free of interest and provides opportunity for broader participation of the public. As Malaysia has a comprehensive framework as well as firm regulatory and government support for Islamic finance, the fiscal reform builds on an important feature of risk sharing Islamic finance that brings the real and financial sectors of the economy close together. The fiscal policy reform recommended in this book seeks to address the public debt burden, expand fiscal space, increase financial inclusion, reduce income and wealth disparities, increase employment and income for the growing population and ultimately improve social solidarity especially for a pluralistic country such as Malaysia. 410 0$aDe Gruyter studies in Islamic economics, finance and business ;$vVolume 11. 606 $aFinance (Islamic law) 606 $aFiscal policy 607 $aMalaysia 615 0$aFinance (Islamic law) 615 0$aFiscal policy. 676 $a346.167082 700 $aOthman$b Azura$0929212 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910554250103321 996 $aTowards a Sustainable Fiscal Position for Malaysia$92815396 997 $aUNINA