The sample period for the present study is from the first quarter 1999 to the fourth quarter
2008. The choice of this sample period is based on the availability of data especially
OFDI from Malaysia. The time-series data (i.e. OFDI and Gross Domestic Product
(GDP)) were retrieved from the International Financial Statistics. Moreover, the raw
data have been converted into real terms4 before they are transformed into natural
logarithm (ln).