Open Access. Powered by Scholars. Published by Universities.®
Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 6 of 6
Full-Text Articles in Social and Behavioral Sciences
Determinants Of Foreign Direct Investment In Malaysia, James B. Ang
Determinants Of Foreign Direct Investment In Malaysia, James B. Ang
James B Ang
Using annual time series data for the period 1960–2005, this paper examines the determinants of FDI for Malaysia to inform analytical and policy debates. Consistent with the prediction of the market size hypothesis, real GDP is found to have a significant positive impact on FDI inflows. There is evidence that growth rate of GDP exerts a small positive impact on inward FDI. From a policy point of view, the results suggest that increases in the level of financial development, infrastructure development, and trade openness promote FDI. On the other hand, higher statutory corporate tax rate and appreciation of the real …
Economic Development, Pollutant Emissions And Energy Consumption In Malaysia, James B. Ang
Economic Development, Pollutant Emissions And Energy Consumption In Malaysia, James B. Ang
James B Ang
The objective of this paper is to examine the long-run relationship between output, pollutant emissions, and energy consumption in Malaysia during the period 1971–1999. To supplement the findings of cointegrating analysis, we assess the causal relationships between the variables using the recent causality tests available in the literature. The results indicate that pollution and energy use are positively related to output in the long-run. We found a strong support for causality running from economic growth to energy consumption growth, both in the short-run and long-run.
Foreign Direct Investment And Its Impact On The Thai Economy: The Role Of Financial Development, James B. Ang
Foreign Direct Investment And Its Impact On The Thai Economy: The Role Of Financial Development, James B. Ang
James B Ang
This paper examines the roles of foreign direct investment and financial development in the process of economic development using Thailand as the case study. We argue that better developed financial systems allow an economy to exploit the benefits of foreign direct investment more efficiently. The estimation draws upon an unrestricted error-correction model to avoid omitted lagged variable bias, and an instrumental variable estimator to correct for endogeneity bias. Using annual time series data from 1970 to 2004, the results show that financial development stimulates economic development whereas foreign direct investment impacts negatively on output expansion in the long run. However, …
Private Saving In India And Malaysia Compared: The Roles Of Financial Liberalization And Expected Pension Benefits, James B. Ang
Private Saving In India And Malaysia Compared: The Roles Of Financial Liberalization And Expected Pension Benefits, James B. Ang
James B Ang
In this article, we provide a comparative account of the evolution of private saving in India and Malaysia, and analyze how policy changes in the financial sector and pension system help explain differences in their saving performance. Using the Autoregressive Distributed Lag (ARDL) bounds estimation procedure, we find a fairly robust long-run relationship between private saving and its determinants in both countries. Consistent with the predictions made in the life cycle model, our results indicate that higher income growth stimulates private saving and an increase in age dependency retards private saving. The results provide some support for the hypothesis that …
A Survey Of Recent Developments In The Literature Of Finance And Growth, James B. Ang
A Survey Of Recent Developments In The Literature Of Finance And Growth, James B. Ang
James B Ang
This paper provides a survey of the recent progress in the literature of financial development and economic growth. The survey highlights that most empirical studies focus on either testing the role of financial development in stimulating economic growth or examining the direction of causality between these two variables. Although the positive role of finance on growth has become a stylized fact, there are some methodological reservations about the results from these empirical studies. Several key issues unresolved in the literature are highlighted. The paper also points to several directions for future research.
Are Financial Sector Policies Effective In Deepening The Malaysian Financial System?, James B. Ang
Are Financial Sector Policies Effective In Deepening The Malaysian Financial System?, James B. Ang
James B Ang
This paper provides an empirical assessment of the effects of financial sector policies on development of the financial system in Malaysia over the period 1959-2005. The technique of principal component analysis is used to construct a summary measure of interest rate policies in order to account for the joint influence of various interest rate controls imposed on the Malaysian financial system. The results show that economic development, interest rate controls, and capital liquidity requirements positively affect the level of financial development. However, greater trade openness, higher statutory reserve requirements, and the presence of directed credit programs appear to be harmful …