How does financial development interact with economic growth in five ASEAN countries
Journal Publication ResearchOnline@JCUPhan, Thanh Chung;Sun, Sizhong;Vo, Diem Thi Hong
Abstract
This study examines the causal relationship between financial development, liberalization and economic growth through technological innovation channel in five South East Asia countries during the period 1980–2012, using a fully modified ordinary least square estimation technique. We find that technological deepening is driven by deepening in the financial system and financial liberalization rather than changes in a country’s market capitalization. We also find a negative effect from the financial openness, and a positive effect from financial deregulation.
Journal
Singapore Economic Review
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Volume
64
ISBN/ISSN
0217-5908
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Issue
3
Pages Count
20
Location
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Publisher
World Scientific Publishing
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Publisher Location
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Date
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EISSN
N/A
DOI
10.1142/S0217590816500120