Journal article
Financial Development, Foreign Investment and Economic Growth in Malaysia
Journal of Asian Economics, Vol.22(4), pp.335-342
2011
Abstract
By making use of the bank-based theory of financial development, this paper develops a simultaneous equations model that allows one to empirically examine the interrelationship among economic growth, the stock of foreign investment and the stock of domestic capital in Malaysia. The empirical model is estimated by means of the Generalised Method of Moments. The empirical analysis, based on annual data for the period 1970-2007, reveals that the level of financial development has contributed to the growth of the domestic capital stock in Malaysia but its impact on economic growth is statistically insignificant. An increase in the stock of foreign investment in Malaysia has contributed to an increase in the stock of domestic capital and economic growth but the stock of foreign investment is affected significantly only by the level of openness of the economy and its real exchange rate.
Details
- Title
- Financial Development, Foreign Investment and Economic Growth in Malaysia
- Authors
- Sajid Anwar (Author) - University of the Sunshine Coast - Faculty of BusinessS Sun (Author) - James Cook University
- Publication details
- Journal of Asian Economics, Vol.22(4), pp.335-342
- Publisher
- Elsevier BV, North-Holland
- Date published
- 2011
- DOI
- 10.1016/j.asieco.2011.04.001
- ISSN
- 1049-0078
- Organisation Unit
- School of Business and Creative Industries; Indigenous and Transcultural Research Centre; University of the Sunshine Coast, Queensland; USC Business School - Legacy
- Language
- English
- Record Identifier
- 99449644902621
- Output Type
- Journal article
Metrics
5 File views/ downloads
905 Record Views
InCites Highlights
These are selected metrics from InCites Benchmarking & Analytics tool, related to this output
- Collaboration types
- Domestic collaboration
- Web Of Science research areas
- Economics
UN Sustainable Development Goals (SDGs)
This output has contributed to the advancement of the following goals:
Source: InCites