Financial Development and Economic Growth in ASEAN: Evidence from Panel Data

Siti Nor FarahEffera Lerohim, Salwani Affandi and Wan Mansor Mahmood

MPRA Paper from University Library of Munich, Germany

Abstract: The objective of this paper is to examine the influence of financial development consisting of financial depth, investment share and inflation on economic growth of ASEAN during 2002 through 2011. Using the fixed effect panel data OLS regression estimations, the study shows that share investment and inflation plays an important role in explaning real output. However, it is quite surprise to see that financial depth does not have any significant contribution toward real output. The findings is very important to policymaker for the ASEAN. They should aim at improving capital market environment and at the same time try reducing inflation rate to a level that can be sustainable for their future economic growth.

Keywords: Economic growth; Financial depth; Investment share; Inflation; Association of Southeast Asian Nations (ASEAN). (search for similar items in EconPapers)
JEL-codes: G0 G1 G2 (search for similar items in EconPapers)
Date: 2014-09-25, Revised 2014-12-31
New Economics Papers: this item is included in nep-fdg, nep-gro and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/62224/1/MPRA_paper_62224.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:62224

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().