The Relevance of Financial Development for Economic Growth: A Bounds Test Approach
Wan Ngah, Wan Azman Saini, Habibullah, Muzafar Shah and Mohamed, Azali (2000) The Relevance of Financial Development for Economic Growth: A Bounds Test Approach. Pertanika Journal of Social Sciences & Humanities, 8 (1). pp. 51-57. ISSN 0128-7702
The purpose of the study is to determine whether financial development is relevant for economic growth in Malaysia for the period 1955 to 1997. Using a bounds test proposed by Pesaran et al. (1996), our results suggest that using both linear and log-linear specifications, the data do not support the existence of long-run relationships between financial development and economic growth during the period under study.
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