Estimating the permanent growth effects of financial liberalization: The case of Malaysia
B. Rao
MPRA Paper from University Library of Munich, Germany
Abstract:
We argue that the specifications used to estimate the permanent growth effects of reforms in the financial sector are unsatisfactory. Using a modified specification and data for the period 1970 to 2004, we show developments in the financial sector in Malaysia have a small but significant permanent effect on the growth of output. Our results are different from the conclusions in a recent work on this topic.
Keywords: Growth effects of financial development; Solow model; Malaysia (search for similar items in EconPapers)
JEL-codes: F49 O16 (search for similar items in EconPapers)
Date: 2008-04-16
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:8278
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