Rao, B. Bhaskara (2008): Estimating the permanent growth effects of financial liberalization: The case of Malaysia.
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We argue that the specifications used to estimate the permanent growth effects of reforms in the financial sector are unsatisfactory. Using a modified specification and data for the period 1970 to 2004, we show developments in the financial sector in Malaysia have a small but significant permanent effect on the growth of output. Our results are different from the conclusions in a recent work on this topic.
|Item Type:||MPRA Paper|
|Original Title:||Estimating the permanent growth effects of financial liberalization: The case of Malaysia|
|Keywords:||Growth effects of financial development; Solow model; Malaysia|
|Subjects:||F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F49 - Other
O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O16 - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
|Depositing User:||B. Bhaskara Rao|
|Date Deposited:||16. Apr 2008 13:23|
|Last Modified:||12. Feb 2013 21:55|
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