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Local currency model: to boost economic activities of indigenous community in Malaysia

Duasa, Jarita and Mohd Thas Thaker, Mohamed Asmy and Rahman, Maya Puspa (2018) Local currency model: to boost economic activities of indigenous community in Malaysia. Turkish Online Journal of Design, Art and Communication (TOJDAC), September 2018 Special Edition. pp. 1-8. ISSN 2146-5193

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The study proposes the local currency model to the Malaysian Indigenous community (Orang Asli) since they are among the nation's hardcore poor. It attempts to measure the probability and level of acceptance in the community if the complementary currency system were to be introduced for their economic activities. Using primary data collected from the survey among Orang Asli in Peninsular Malaysia, the study analyzes the data using Logit model and Technology Acceptance Model (TAM). Results from logistic regression imply that the probability to opt for proposed local currency as an alternative currency is high if it is using agricultural products and backed by national currency. The probability is also high among higher income respondents but low for those with big family size and those who prefer to use Ringgit Malaysia (RM). Using TAM, it is found that ‘perceived usefulness’ and ‘perceived ease of use’ have positive effect on ‘attitude’ to use the proposed local currency. Similar results are found between ‘perceived usefulness’ and ‘behavioral intention’ to use the proposed currency. Thus, through positive attitude, the respondent’s perceptions on the usefulness and ease of use positively affect the behavioral intention of using the new system. The findings could assist the policymakers in implementing local currency model to Orang Asli community to boost their economic activities and pull them out from the circle of hardcore poverty among nations.

Item Type: Article (Journal)
Additional Information: 7210/66458
Uncontrolled Keywords: Local currency, Malaysia, Logit model, Technology Acceptance Model
Subjects: H Social Sciences > H Social Sciences (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Centre for Islamic Economics
Kulliyyah of Economics and Management Sciences > Department of Economics
Kulliyyah of Economics and Management Sciences
Depositing User: Dr Mohamed Asmy Bin Mohd Thas Thaker
Date Deposited: 05 Oct 2018 09:56
Last Modified: 05 Oct 2018 09:56
URI: http://irep.iium.edu.my/id/eprint/66458

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