Does insurance‐growth nexus hold for Malaysia?

The study investigates the impact of insurance activities on economic growth in Malaysia over the period 1990–2015. Combined cointegration in the presence of identified structural breaks was used to confirm the existence of long‐run relationships among economic growth, insurance activities, human capital, physical capital, and industrial production. The findings indicate feedback effects between insurance activities and economic growth in the long run. The study provides new insights for policymaking to enhance economic growth via insurance activities.     

International briefing 7: Training and development in Singapore

Singapore’s only resource is its people. It has made HRD as a key strategy for economic development since its inception. Its economic success story is entwined with the training and development of its workforce. A national manpower development infrastructure has been put in place to facilitate training and lifelong learning of its people for the twenty‐first century under a master plan called Manpower 21. Continuous training and skills development has been possible through close cooperation between the state, employers and the unions through unique working relationships between several policy‐making institutions, such as the National Manpower Council and the National Wages Council.     

L-statistics from multivariate unified skew-elliptical distributions

We study here the distributions of order statistics and linear combinations of order statistics from a multivariate unified skew-elliptical distribution. We show that these distributions can be expressed as mixtures of unified skew-elliptical distributions, and then use these mixture forms to study some distributional properties and moments.