Citation
Ibrahim, Saifuzzaman and Abdullahi, Abu Bakar and Wan Ngah, Wan Azman Saini and Abdul Rahman, Mazlina
(2017)
Finance-growth nexus: evidence based on new measures of finance.
International Journal of Economics and Management, 11 (1).
pp. 17-29.
ISSN 1823-836X
Abstract
This study examines the impact of financial development on economic growth using both the development of banking sector and the development of stock market as indicators of financial development. In order to reduce information loss, new measures of the banking sector and the stock market development are derived from various available measures via principal component analysis. Using the generalized method of moments (GMM) estimation technique on a 1988-2012 sample of 53 countries, the study reveals that the development in the banking sector and the stock market are both important to promote economic growth.
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Official URL or Download Paper: http://172.17.31.1/ijem/vol11no1/(2)-Paper%2002%20...
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Additional Metadata
| Item Type: | Article |
|---|---|
| Divisions: | Faculty of Economics and Management |
| Publisher: | Faculty of Economics and Management, Universiti Putra Malaysia |
| Keywords: | Financial development; Economic growth; Generalized method of moments; Principal component analysis |
| Depositing User: | Nabilah Mustapa |
| Date Deposited: | 31 Jul 2017 09:11 |
| Last Modified: | 31 Jul 2017 09:11 |
| URI: | http://psasir.upm.edu.my/id/eprint/56373 |
| Statistic Details: | View Download Statistic |
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