Document Type : Research Article
1 Faculty of Accountancy, Universiti Teknologi MARA (UiTM) Selangor, Malaysia
2 School of Management, Universiti Sains Malaysia, Accounting Research Institute, University Technology MARA, Selangor, Malaysia.
3 Faculty of Business & Management, Universiti Sultan Zainal Abidin, Gong Badak Campus, Terengganu, Malaysia
This paper explores the main determinants of the socio-economic characteristics in Malaysian households in terms of budget and income. Generally, the amount of expenditures depends on the changes in household budgets; thus, income and wealth are the primary determinants of household budgets and consequently consumption patterns. In the wake of Covid-19, Malaysia’s economy has been highly impacted and people were unable to run businesses or any economic activities except for those classified as essential services such as hospitality, medical, foods and beverages, and retailing. As such, these have impacted the people with lower income earnings, especially the Bottom 40, which is classified as those with household income median of RM3,000. The B40s spend their income mainly on life necessities whereby a higher saving rate would be an assurance for higher future consumption. In view of this, the government must play its role in helping the B40s fulfill their necessities through significant policies such as increasing the amount of Bantuan Sara Hidup (BSH), providing an old-age pension, and addressing poverty problems among B40s as well as drafting a long-term plan to mitigate these problems.
- 1. Aripin, R. M., N. A. Hamid, R. Mahmud, N. H. Haron, and N. Rashid. 2020. Factors Affecting Rubber Prices: From the Perspective of Malaysian Rubber Smallholders. Journal of Advanced Research in Dynamical and Control Systems 12(3):329–34.
- Chamber, Robert (1979), Seasonal Dimensions to Rural Poverty; Analysis and Practical Implications, Paper No.142, Institute of Development Studies, University of Sussex, Brighton.
- Che Sulaiman, N. F., Sanusi, N. A., & Muhamad, S. (2020). Survey dataset of Malaysian perception on rising cost of living. Data in Brief, 28, 104910. https://doi.org/10.1016/j.dib.2019.104910
- DOSM. (2017). Department of Statistics Malaysia Press Release Report of Household Income and Basic Amenities Survey 2016. Report of Household Income and Basic Amenities Survey 2016, (October), 7. https://doi.org/10.1021/ja064532c
- DOSM. (2020). Department of Statistics Malaysia Press Release. Department of Statistics Malaysia: Demographic Statistics Fourth Quarter 2019, Malaysia, (February). https://doi.org/10.1017/CBO9781107415324.004
- Fogel, R. W. (2004). Health, nutrition, and economic growth. Economic Development and Cultural Change. https://doi.org/10.1086/383450
- G. Crow, 'The Post-war Development of the Modern Domestic Ideal' in G. Allan and G. Crow (eds), Home and Family. Creating the Domestic Sphere (Basingstoke 1989), 20.
- Gonçalves, P., Araújo, M., Benevenuto, F., & Cha, M. (2013). Comparing and combining sentiment analysis methods. COSN 2013 - Proceedings of the 2013 Conference on Online Social Networks, (October), 27–37. https://doi.org/10.1145/2512938.2512951
- Hamid, N. A., N. N. Zakaria, N. S. Hassan, N. A. Khalil, S. N. M. Safi’e, T. I. T. Iskandar, S. Ahmad, R. Shamsuddin, T. F. T. Embong, and N. Rashid. 2020. “Factors Affecting Tax Compliance among the Malaysian Food Riders.” Journal of Advanced Research in Dynamical and Control Systems 12(3):322–28.
- Labour Force, statistic. (2019). Siaran Bulanan Monthly Release Perangkaan Tenaga Buruh, Malaysia, Mei 2019. (July).
- Lasch, C. (1979). Haven in a Heartless World. New York: Basic Books
- Macunovich, D. J. (1998). Fertility and the Easterlin hypothesis: An assessment of the literature. Journal of Population Economics. https://doi.org/10.1007/s001480050058
- Mckeown, T. (2004). Public Health, Nutrition, and the Decline of Mortality : The McKeown Thesis Revisited. Social History of Medicine. https://doi.org/10/cvwn82
- Mohd Nor, F., Sulaiman, N., Mohd Shariff, Z., & Ibrahim, Z. (2017). SOCIO-ECONOMIC STATUS AND FOOD INSECURITY AMONG THE ELDERLY IN. 53–66.
- Noor, R. M., N. M. N. Nik Mohd Rashid, and N. Mastuki. 2011. “Zakat and Tax Reporting: Disclosures Practices of Shariah Compliance Companies.” Pp. 877–82 in.
- Popple, K., & Quinney, A. (2002). Theory and Practice of Community Development: A Case Study from the United Kingdom. Journal of the Community Development Society. https://doi.org/10.1080/15575330209490143
- Preston, S. H. (1975). The Changing Relation between Mortality and Level of Economic Development. Population Studies. https://doi.org/10.1080/00324728.1975.10410201
- Schneider, B., & Reichers, A. E. (1983). ON THE ETIOLOGY OF CLIMATES. Personnel Psychology. https://doi.org/10.1111/j.1744-6570.1983.tb00500.x
- Sheykhi, M. T. (2010). A Socio Economy Perspective of Household Tehran.pdf (pp. 155–167). pp. 155–167. Tehran.
- Talib, K. A. (2016). Social Welfare in Malaysia: Provision and Limitation. Transnational Social Work and Social Welfare: Challenges for the Social Work Profession, (December), 100–106. https://doi.org/10.4324/9781315691794
- Thomas, S. E. (1987). Economics. London: The English University Press.