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A CONTEMPORARY RE-EXAMINATION OF MALAYSIA’S ECONOMIC GROWTH: THE ISSUES OF EQUITY, EFFICIENCY AND LIBERALIZATION

Azfar Hilmi Baharudin and Yap Su Fei ()
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Azfar Hilmi Baharudin: Department of Economics, Universiti Teknologi MARA, Shah Alam, Malaysia
Yap Su Fei: Department of Economics, University of Malaya, Kuala Lumpur, Malaysia

The Singapore Economic Review (SER), 2017, vol. 62, issue 02, 509-530

Abstract: This paper is an empirical investigation on economic growth for Malaysia, with focus on income inequality, foreign direct investment (FDI), financial development and trade. Co-integrating regression procedures namely, fully modified ordinary least squares (FMOLS), canonical co-integrating regression (CCR) and dynamic ordinary least squares (DOLS) were employed. Positive relationship between growth with financial development and trade are found to be consistent across all estimations. Income inequality on the other hand though negative, does not seem to exhibit robust significant statistical relationship with growth. The orders of integration for variables used have been demonstrated to be governed such that a long-run relationship prevails.

Keywords: Economic growth; income inequality; foreign direct investment; financial development; trade (search for similar items in EconPapers)
Date: 2017
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