Munich Personal RePEc Archive

Finance and growth in a small open emerging market

Law, Siong Hook and Azman-Saini, W.N.W. and Smith, Peter (2006): Finance and growth in a small open emerging market.

[img]
Preview
PDF
MPRA_paper_715.pdf

Download (236Kb) | Preview

Abstract

This study contributes to the debate on financial development and economic growth in Malaysia using quarterly observations for a sample period from 1980 to 2002. It utilises a battery of financial indicators. Based on multivariate framework which takes real interest rate and capital stock into account, the findings are suggestive that finance does play a crucial role in promoting economic growth. Policymakers should, therefore, focus their attention on the creation and promotion of modern financial institutions including banks, non-banks, and stock markets in delivering both short- and long-run economic benefits.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.