Open Access. Powered by Scholars. Published by Universities.®
Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 4 of 4
Full-Text Articles in Social and Behavioral Sciences
Financial Deepening And Economic Development In Malaysia, James B. Ang
Financial Deepening And Economic Development In Malaysia, James B. Ang
James B Ang
This paper examines the extent to which financial development contributes to output expansion in Malaysia, during the period 1960–2003. An augmented neoclassical growth framework is adopted to provide an evaluation of the impact of financial sector development on economic development. Using the recently developed ARDL bounds procedure, the results show that aggregate output and its determinants are cointegrated in the long run. The results suggest that financial development, private capital stocks and the labour force exert a positive impact on economic development whereas the accumulation of public capital appears to curtail output expansion in the long run.
Co2 Emissions, Energy Consumption, And Output In France, James B. Ang
Co2 Emissions, Energy Consumption, And Output In France, James B. Ang
James B Ang
This paper examines the dynamic causal relationships between pollutant emissions, energy consumption, and output for France using cointegration and vector error-correction modelling techniques. We argue that these variables are strongly interrelated and therefore their relationship must be examined using an integrated framework. The results provide evidence for the existence of a fairly robust long-run relationship between these variables for the period 1960–2000. The causality results support the argument that economic growth exerts a causal influence on growth of energy use and growth of pollution in the long run. The results also point to a uni-directional causality running from growth of …
Are Saving And Investment Cointegrated? The Case Of Malaysia (1965-2003), James B. Ang
Are Saving And Investment Cointegrated? The Case Of Malaysia (1965-2003), James B. Ang
James B Ang
This article examines whether domestic saving rate leads to higher domestic investment rate in the case of Malaysia. We argue that the results obtained from cross-sectional studies are not able to address this issue satisfactorily and highlight the importance of individual country case studies. Using the recently developed autoregressive distributed lag bounds testing procedure, the results reveal a robust cointegrated relationship between domestic saving and investment rates during the period 1965 to 2003.
Financial Liberalization, Financial Sector Development And Growth: Evidence From Malaysia, James B. Ang
Financial Liberalization, Financial Sector Development And Growth: Evidence From Malaysia, James B. Ang
James B Ang
The objective of this paper is to examine whether financial development leads to economic growth or vice versa in the small open economy of Malaysia. Using time series data from 1960 to 2001, we conduct cointegration and causality tests to assess the finance-growth link by taking the real interest rate and financial repression into account. The empirical evidence suggests that financial liberalization, through removing the repressionist policies, has a favorable effect in stimulating financial sector development. Financial depth and economic development are positively related; but contrary to the conventional findings, our results support Robinson's view that output growth leads to …