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VRF - Intro

 

Bank Negara Malaysia (BNM) is expanding its research collaboration with academics through the Visiting Research Fellowship (VRF) Programme.

The VRF programme aims to produce joint research publications between academics and BNM staff. staff. We are seeking to collaborate with academics who specialise in econometrics, macroeconomics, monetary economics or financial economics-related fields.

Our current research priorities are in these areas, with a focus on Malaysia or incorporating Malaysia as part of the analysis:

  1. Drivers of sustainable growth, including the determinants of consumption and investment behaviour
  2. Drivers and dynamics of inflation
  3. Labour market developments and frictions, wage determination and price-setting behaviour
  4. Monetary policy transmission mechanism
  5. Role of the exchange rate in the economy and monetary policy
  6. Impact of digitalisation on money and monetary policy
  7. Macroeconomic impact of structural shifts such as technology and AI, climate change, and demographics and its implications on monetary policy
  8. Interlinkages between monetary policy and financial stability
  9. Policy coordination (including between monetary, fiscal, exchange rate and macroprudential policies) for macroeconomic stabilisation
  10. Implications of shifts in international trade and financial integration on macroeconomic and financial stability

If you have any further queries, please email [email protected] (please note that BNM may not respond to queries unrelated to the VRF programme). While this programme does not provide research grants, appointed fellows will receive an honorarium.

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VRF - FAQ

VRF FAQs

1. Who is eligible for the VRF programme?

Academics from research-based local institutions (e.g., universities, research centres, think tanks), specialising in econometrics, macroeconomics, monetary economics or financial economics-related fields, will be given preference.

2. How do I apply?

Download the official VRF application form here and fill in the requisite details. All applications should be submitted via email to [email protected].

3. When should I submit my application and how do I know if my application is successful?

BNM will accept applications on a rolling basis throughout the year. Applicants will typically be informed of a decision 14 working days after the submission of complete application.

However, as resources are limited, we may adjust the timing of fellowship placements based on availability of funding and collaborating staff. Strong proposals received after capacity for the year is reached may be considered for a later start date, subject to BNM priorities.

In some cases, the decision process may take longer as additional rounds of matching are required. If you do not hear from us within 60 days of application, your proposal has not been shortlisted, we encourage you to pursue your research under other programmes or grants.

4. How long is the duration of the VRF programme?

The Visiting Research Fellow should complete a draft research paper for the project within 12 months of appointment.

5. What is the expected outcome of the VRF programme?

Upon completion of the programme, the Visiting Research Fellow is expected to have completed one working paper fit for publication in collaboration with BNM staff.