Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation

Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation

This paper aims to empirically examine the development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia using time series data over the period spanning 1974 to 2004. The study employs bounds testing approach to cointegration and error correction mechanism to investigate the...

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Main Authors: Islam, Mohd Aminul, Osman, Jamil
Format: Article
Language:English
Published: Center for Promoting Ideas (CPI) 2011
Subjects:
H Social Sciences (General)
HG Finance
Online Access:http://irep.iium.edu.my/12478/
http://irep.iium.edu.my/12478/
http://irep.iium.edu.my/12478/1/Development_Impact_of_Non-Bank_Financial_Intermediaries_on_Economic_Growth_in_Malaysia_An_Empirical_Investigation.pdf
id iium-12478
recordtype eprints
spelling iium-124782012-01-03T04:16:14Z http://irep.iium.edu.my/12478/ Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation Islam, Mohd Aminul Osman, Jamil H Social Sciences (General) HG Finance This paper aims to empirically examine the development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia using time series data over the period spanning 1974 to 2004. The study employs bounds testing approach to cointegration and error correction mechanism to investigate the existence of a long run equilibrium relationship between NBFIs and economic growth. The study finds evidence of a long run cointegrating relationship between NBFIs and real per capita income. The empirical results indicate that the development of NBFIs positively and significantly influences per capita income in Malaysia. In addition, the CUSUM and CUSUMSQ tests confirm the stability of the model. Center for Promoting Ideas (CPI) 2011-07 Article PeerReviewed application/pdf en http://irep.iium.edu.my/12478/1/Development_Impact_of_Non-Bank_Financial_Intermediaries_on_Economic_Growth_in_Malaysia_An_Empirical_Investigation.pdf Islam, Mohd Aminul and Osman, Jamil (2011) Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation. International Journal of Business and Social Science, 2 (14). pp. 187-198. ISSN 2219-6021 (O), 2219-1933 (P) http://www.ijbssnet.com/journals/Vol._2_No._14%3b_July_2011/21.pdf
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
topic H Social Sciences (General)
HG Finance
spellingShingle H Social Sciences (General)
HG Finance
Islam, Mohd Aminul
Osman, Jamil
Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation
description This paper aims to empirically examine the development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia using time series data over the period spanning 1974 to 2004. The study employs bounds testing approach to cointegration and error correction mechanism to investigate the existence of a long run equilibrium relationship between NBFIs and economic growth. The study finds evidence of a long run cointegrating relationship between NBFIs and real per capita income. The empirical results indicate that the development of NBFIs positively and significantly influences per capita income in Malaysia. In addition, the CUSUM and CUSUMSQ tests confirm the stability of the model.
format Article
author Islam, Mohd Aminul
Osman, Jamil
author_facet Islam, Mohd Aminul
Osman, Jamil
author_sort Islam, Mohd Aminul
title Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation
title_short Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation
title_full Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation
title_fullStr Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation
title_full_unstemmed Development impact of Non-Bank Financial Intermediaries on economic growth in Malaysia: an empirical investigation
title_sort development impact of non-bank financial intermediaries on economic growth in malaysia: an empirical investigation
publisher Center for Promoting Ideas (CPI)
publishDate 2011
url http://irep.iium.edu.my/12478/
http://irep.iium.edu.my/12478/
http://irep.iium.edu.my/12478/1/Development_Impact_of_Non-Bank_Financial_Intermediaries_on_Economic_Growth_in_Malaysia_An_Empirical_Investigation.pdf
first_indexed 2023-09-18T20:21:41Z
last_indexed 2023-09-18T20:21:41Z
_version_ 1777408149081292800

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