Please use this identifier to cite or link to this item:
http://studentrepo.iium.edu.my/handle/123456789/3647
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Mohd Aminul Islam | en_US |
dc.date.accessioned | 2020-08-20T10:50:57Z | - |
dc.date.available | 2020-08-20T10:50:57Z | - |
dc.date.issued | 2007 | - |
dc.identifier.uri | http://studentrepo.iium.edu.my/jspui/handle/123456789/3647 | - |
dc.description.abstract | The importance of financial development (bank and the stock market) in accelerating economic growth has been extensively discussed in both theoretical and empirical studies over the past three decades. The findings of these studies generally suggest that a well-developed financial system tends to have positive impacts on economic growth. However, unlike bank and stock market development, literature examining the role of non-bank financial intermediaries (NBFIs) in influencing economic growth is sparse. This research aims to fill that gap by examining empirically the role of NBFIs in economic growth for the case of Malaysia. The study employs a recently developed autoregressive distributed lag (ARDL) bounds testing approach to cointegration to examine the long-run relationship between NBFIs and economic growth in Malaysia using annual data covering the period 1971-2004. Unlike the other widely used cointegration approach such as Johansen and Juselious (1990), this approach is particularly promising as it is suitable for a small sample size like the present study and also capable of testing the existence of long-run relationship irrespective of whether the underlying variables are of order I(0) or I(1) or mutually cointegrated. The study finds evidence of long run cointegrating relationship between the indicators of NBFIs development and the economic growth in Malaysia. The regression results show that the total assets of NBFIs have positive long run relationship with economic growth and the private credit (other indicator of NBFIs) has positive and significant impact on long run economic growth. Furthermore, the positive and significant coefficient of NBFIs assets supports the concept that NBFIs assets can influence long run growth indirectly through investment channel. Granger causality test shows that in the long run there is bidirectional causality between the indicators of NBFIs and economic growth. In the short run, there is evidence that the NBFIs assets Granger cause economic growth with no reverse effect but in the case of private credit causality is bidirectional. In addition, the study finds evidence that NBFIs assets have significant causal impact on other financial sectors’ development (banks and stock market) and also independent causal influence on economic growth. The study suggests that the development of NBFIs is important for both long run economic growth and for other financial sectors’ (banks and stock market) development. As such, promoting the NBFIs can simultaneously meet the objective of achieving a sound financial system and hence sustainable long run economic growth in Malaysia. | en_US |
dc.language.iso | en | en_US |
dc.publisher | Kuala Lumpur : International Islamic University Malaysia, 2007 | |
dc.rights | Copyright International Islamic University Malaysia | |
dc.subject.lcsh | Financial institutions -- Malaysia -- Case studies | en_US |
dc.subject.lcsh | Finance companies -- Malaysia -- Case studies | en_US |
dc.subject.lcsh | Economic development -- Malaysia | en_US |
dc.subject.lcsh | Economic development -- Malaysia -- Case studies | en_US |
dc.subject.lcsh | Malaysia -- Economic conditions -- Case studies | en_US |
dc.title | The role of non-bank financial intermediaries (NBFIs) in economic growth (1971-2004) : an empirical case study of Malaysia | en_US |
dc.type | Doctoral Thesis | en_US |
dc.identifier.url | https://lib.iium.edu.my/mom/services/mom/document/getFile/cHpUxdmvqHtzLpXCx5kB0BVYTrpqW7mB20071008150749484 | - |
dc.description.identity | t00011001240MOHDAMINULISLAMHG3751.4M4M697R2007 | en_US |
dc.description.identifier | Thesis : The role of non-bank financial intermediaries (NBFIs) in economic growth (1971-2004) : an empirical case study of Malaysia / by Mohd Aminul Islam | en_US |
dc.description.kulliyah | Kulliyyah of Economics and Management Sciences | en_US |
dc.description.programme | Doctor of Philosophy in Economics | en_US |
dc.description.degreelevel | Doctoral | |
dc.description.callnumber | t HG 3751.4 M4 M697R 2007 | en_US |
dc.description.notes | Thesis (Ph.D)--International Islamic University Malaysia, 2007 | en_US |
dc.description.physicaldescription | xv, 171 leaves : illustrations ; 30 cm. | en_US |
item.openairetype | Doctoral Thesis | - |
item.grantfulltext | open | - |
item.fulltext | With Fulltext | - |
item.languageiso639-1 | en | - |
item.openairecristype | http://purl.org/coar/resource_type/c_18cf | - |
item.cerifentitytype | Publications | - |
Appears in Collections: | KENMS Thesis |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
t00011001240MOHDAMINULISLAMHG3751.4M4M697R2007_SEC_24.pdf | 24 pages file | 351.18 kB | Adobe PDF | View/Open |
t00011001240MOHDAMINULISLAMHG3751.4M4M697R2007_SEC.pdf Restricted Access | Full text secured file | 3.15 MB | Adobe PDF | View/Open Request a copy |
Page view(s)
28
checked on May 17, 2021
Download(s)
12
checked on May 17, 2021
Google ScholarTM
Check
Items in this repository are protected by copyright, with all rights reserved, unless otherwise indicated. Please give due acknowledgement and credits to the original authors and IIUM where applicable. No items shall be used for commercialization purposes except with written consent from the author.