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Title: Finance and growth in ASEAN
Authors: Chua, Poh Chai
Keywords: DRNTU::Business::Finance
Issue Date: 1997
Abstract: This paper determines the impact of financial development on economic growth ASEAN . I have chosen to study the Asean5 countries because of the difference in income growth across these economies. Recently, there has been an upsurge of interest in these financial sector. Moreover, each has its unique financial characteristics and various degrees of development This paper adopts the basic model generated by King and Levine(1993a) to show various financial deepening. Using data sets from International Financial Statistics, 1996, results indicate that financial developments are robustly correlated with economic growth in high growth periods. However, there are only weak evidences during periods of low growth. A Granger-causality test that accounts for preceding developments showed that finance and growth are causal to each other during high growth period but not periods of low growth. Although each country exhibits different characteristics, there are sufficient evidences to support both the 'supply-leading' and 'demand following' theory.
Description: 107 p.
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

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