How does financial development interact with economic growth in five ASEAN countries

Phan, Thanh Chung, Sun, Sizhong, and Vo, Diem Thi Hong (2019) How does financial development interact with economic growth in five ASEAN countries. Singapore Economic Review, 64 (3). pp. 441-460.

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DOI: 10.1142/S0217590816500120

View at Publisher Website: http://dx.doi.org/10.1142/S0217590816500...

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Abstract

This study examines the causal relationship between financial development, liberalization and economic growth through technological innovation channel in five South East Asia countries during the period 1980–2012, using a fully modified ordinary least square estimation technique. We find that technological deepening is driven by deepening in the financial system and financial liberalization rather than changes in a country’s market capitalization. We also find a negative effect from the financial openness, and a positive effect from financial deregulation.


Item ID:	45021
Item Type:	Article (Research - C1)
ISSN:	0217-5908
Keywords:	financial development, economic growth, FMOLS, South East Asia, financial liberalization
Copyright Information:	© World Scientific Publishing Compan
Date Deposited:	09 Aug 2016 01:25
FoR Codes:	44 HUMAN SOCIETY > 4404 Development studies > 440407 Socio-economic development @ 100%
SEO Codes:	91 ECONOMIC FRAMEWORK > 9101 Macroeconomics > 910103 Economic Growth @ 100%
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