The Malaysian Institute of Economic Research (MIER) undertakes independent and high quality problem-oriented research on economic, financial and business issues facing the country and provides advice on macroeconomic management, development and future economic perspectives. In undertaking this task, the Institute seeks to achieve the following objectives:
In recent years, the above goals have been extended to cater for the research and training needs of countries outside Malaysia as well.
The Malaysian Institute of Economic Research (MIER) is an independent, non-profit organisation devoted to economic, financial and business research that serves as a think-tank for the government and the private sector. It was first mooted in the Prime Minister’s Economic Panel and later promoted by the Council on Malaysian Invisible Trade (COMIT). It was incorporated as a company limited by guarantee on 30 December 1985 and began operations on 2 January 1986.
The research activities of the Institute are organised into four research divisions, namely, Macroeconomic Surveillance and Forecasting, Policy Studies, Industry Studies and Area Studies (see Chart). The research projects undertaken by the Institute are mainly applied and policy-oriented in nature.
The Institute is governed by a Board of Trustees, which sets its policy directions. An Advisory Panel provides guidance to the Institute in the planning of its research activities. The Executive Director is the chief executive officer, supported by a team of full-time research and support staff members. The Institute also engages a number of associate research fellows and consultants, in addition to hosting interns, both local and foreign.
The Institute’s activities are funded partly by investment income from an Endowment Fund established with contributions from private corporations and the government. The Institute currently also receives an annual grant from the Government of Malaysia. Direct project funds as well as consultancy fees make up the bulk of the Institute’s budget.