Haini2020_Article_ExaminingTheRelationshipBetwee.pdf (774.96 kB)
Examining the relationship between finance, institutions and economic growth: evidence from the ASEAN economies
journal contribution
posted on 2020-02-14, 10:00 authored by Hazwan Bin-Haji-HainiThis study investigates the role of financial and institutional development on economic growth in the Association of Southeast Asian Nations (ASEAN) economies from 1995 to 2017 using a dynamic panel estimator. Financial development is instrumental in promoting economic growth; however, the effect of financial institutions and financial markets can differ. In recent years, the ASEAN economies have launched financial and institutional integration initiatives towards the goal of an integrated ASEAN Economic Community, which can have a profound impact on economic growth. The estimated results show that financial institutions are positive and significant towards economic growth, while financial markets are insignificant. Equally important, institutional quality plays a significant and positive role in economic growth. More interestingly, the study finds that institutional development is complementary to financial institutions and markets. Member states should emphasise on further financial integration across the ASEAN economies, allowing for the development of financial institutions and markets alongside improvements in institutional quality to increase the effectiveness of financial development.
History
School
- Business and Economics
Department
- Economics
Published in
Economic Change and RestructuringVolume
53Issue
4Pages
519 - 542Publisher
Springer Science and Business Media LLCVersion
- VoR (Version of Record)
Rights holder
© The AuthorPublisher statement
This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.Acceptance date
2019-12-02Publication date
2019-12-09Copyright date
2019ISSN
1573-9414eISSN
1574-0277Publisher version
Language
- en
Depositor
Hazwan Bin Haji Haini. Deposit date: 13 February 2020Usage metrics
Categories
No categories selectedLicence
Exports
RefWorks
BibTeX
Ref. manager
Endnote
DataCite
NLM
DC