Test for Dynamic Relationship Between Financial Development and Economic Growth in Malaysia : A Vector Error Correction Modeling Approach  

Oleh:

Amiruddin, Rosilawati ; Nor, Abu Hassan Shaari Mohd ; Ismail, Ismadi

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI
Dalam koleksi: International Journal of Business vol. 9 no. 1 (Jan. 2007), page 61-80.
Topik: FINANCIAL; financial development; economic growth; VECM

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: II51.6 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper purports to study the effectiveness of financial development to Malaysian economic growth utilizing quarterly data. In view of the priority given to dynamic relationship in conducting this study, Vector Autoregressive (VAR) method which encompasses Johansen - Juselius’ Multivariate cointegration, Vector Error Correction Model (VECM), Impulse Response Function (IRF), and Variance Decomposition (VDC) are used as empirical evidence. The result reveals a short - term and long - term dynamic relationship between financial development and economic growth. The importance of financial sector in influencing the economic activity is proven as a clear policy implication.

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