NON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION

This paper empirically examines the impact of Non-bank financial intermediaries (NBFIs) on economic growth in Malaysia using the time series data for the period 1976-2004. We employ a recently developed autoregressive distributed lag (ARDL) bounds testing approach to cointegration suggested by Pes...

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Autores principales:	Mohd Aminul Islam, Dato’ Jamil Bin Hj. Osman
Formato:	article
Lenguaje:	EN
Publicado:	Universitas Muhammadiyah Yogyakarta 2007
Materias:	non-bank financial intermediaries economic growth Economic theory. Demography HB1-3840
Acceso en línea:	https://doaj.org/article/0fcdf7a3c30d4f4bb33908881233d0f1
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spelling	oai:doaj.org-article:0fcdf7a3c30d4f4bb33908881233d0f12021-12-02T11:13:24ZNON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION1411-99002541-5506https://doaj.org/article/0fcdf7a3c30d4f4bb33908881233d0f12007-10-01T00:00:00Zhttps://journal.umy.ac.id/index.php/esp/article/view/1515https://doaj.org/toc/1411-9900https://doaj.org/toc/2541-5506This paper empirically examines the impact of Non-bank financial intermediaries (NBFIs) on economic growth in Malaysia using the time series data for the period 1976-2004. We employ a recently developed autoregressive distributed lag (ARDL) bounds testing approach to cointegration suggested by Pesaran et al (2001) which is more suitable for estimation in small sample size studies and also capable of testing the existence of long run relationship irrespective of whether the underlying variables are integrated of order I(0), I(1) or mutually integrated. We found evidence of a stable long run cointegrating relationship between per capita real GDP and economic growth in Malaysia. The regression result suggests that the development of NBFIs has positive and significant long run impact on per capita real GDP in Malaysia.Mohd Aminul IslamDato’ Jamil Bin Hj. OsmanUniversitas Muhammadiyah Yogyakartaarticlenon-bank financial intermediarieseconomic growthEconomic theory. DemographyHB1-3840ENJurnal Ekonomi & Studi Pembangunan, Vol 8, Iss 2, Pp 130-141 (2007)
institution	DOAJ
collection	DOAJ
language	EN
topic	non-bank financial intermediaries economic growth Economic theory. Demography HB1-3840
spellingShingle	non-bank financial intermediaries economic growth Economic theory. Demography HB1-3840 Mohd Aminul Islam Dato’ Jamil Bin Hj. Osman NON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION
description	This paper empirically examines the impact of Non-bank financial intermediaries (NBFIs) on economic growth in Malaysia using the time series data for the period 1976-2004. We employ a recently developed autoregressive distributed lag (ARDL) bounds testing approach to cointegration suggested by Pesaran et al (2001) which is more suitable for estimation in small sample size studies and also capable of testing the existence of long run relationship irrespective of whether the underlying variables are integrated of order I(0), I(1) or mutually integrated. We found evidence of a stable long run cointegrating relationship between per capita real GDP and economic growth in Malaysia. The regression result suggests that the development of NBFIs has positive and significant long run impact on per capita real GDP in Malaysia.
format	article
author	Mohd Aminul Islam Dato’ Jamil Bin Hj. Osman
author_facet	Mohd Aminul Islam Dato’ Jamil Bin Hj. Osman
author_sort	Mohd Aminul Islam
title	NON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION
title_short	NON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION
title_full	NON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION
title_fullStr	NON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION
title_full_unstemmed	NON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION
title_sort	non-bank financial intermediaries (nbfis) and economic growth in malaysia: an application of the ardl bounds testing approach to cointegration
publisher	Universitas Muhammadiyah Yogyakarta
publishDate	2007
url	https://doaj.org/article/0fcdf7a3c30d4f4bb33908881233d0f1
work_keys_str_mv	AT mohdaminulislam nonbankfinancialintermediariesnbfisandeconomicgrowthinmalaysiaanapplicationoftheardlboundstestingapproachtocointegration AT datojamilbinhjosman nonbankfinancialintermediariesnbfisandeconomicgrowthinmalaysiaanapplicationoftheardlboundstestingapproachtocointegration
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NON-BANK FINANCIAL INTERMEDIARIES (NBFIS) AND ECONOMIC GROWTH IN MALAYSIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION

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