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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| Format: | Article |
| Language: | English |
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Center for Promoting Ideas (CPI)
2011
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| Online Access: | 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 |
| _version_ | 1848777445421875200 |
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| author | Islam, Mohd Aminul Osman, Jamil |
| author_facet | Islam, Mohd Aminul Osman, Jamil |
| author_sort | Islam, Mohd Aminul |
| building | IIUM Repository |
| collection | Online Access |
| 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. |
| first_indexed | 2025-11-14T14:46:06Z |
| format | Article |
| id | iium-12478 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T14:46:06Z |
| publishDate | 2011 |
| publisher | Center for Promoting Ideas (CPI) |
| recordtype | eprints |
| repository_type | Digital Repository |
| 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 |
| 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 |
| title | 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_short | 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 |
| topic | H Social Sciences (General) HG Finance |
| 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 |