Financial convergence in the Asia Pacific economies
Asia Pacific Economic Cooperation (APEC) is an example of a regionalism with aims to improve quality of growth and strengthen regional economic integration through free and open trade and investment. The purpose of this study is to investigate how far have Malaysia performed from its financial devel...
| Main Authors: | , |
|---|---|
| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
School of Economics, Faculty of Economics and Management, Universiti Kebangsaan Malaysia
2013
|
| Online Access: | http://psasir.upm.edu.my/id/eprint/48827/ http://psasir.upm.edu.my/id/eprint/48827/1/Financial%20convergence%20in%20the%20Asia%20Pacific%20economies.pdf |
| _version_ | 1848851194741522432 |
|---|---|
| author | Ibrahim, Juliana Habibullah, Muzafar Shah |
| author_facet | Ibrahim, Juliana Habibullah, Muzafar Shah |
| author_sort | Ibrahim, Juliana |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | Asia Pacific Economic Cooperation (APEC) is an example of a regionalism with aims to improve quality of growth and strengthen regional economic integration through free and open trade and investment. The purpose of this study is to investigate how far have Malaysia performed from its financial development perspective compared to the other member countries and simultaneously address the issue whether the formation of APEC as an economic cooperation has been successful or remains heterogeneous. By applying annual panel data, the hierarchical cluster results suggest the existence of convergence clubs among the Asia Pacific countries. Malaysia is found to be converging towards richer countries’ convergence club. In this respect, in order for the national leaders to continue with strong commitment to support financial development with a shared commitment to the Asian regionalism, the countries with relatively under-developed financial system are expected to relieve their existing credit constraints. Meanwhile, the challenge for Malaysia and other countries with relatively well-developed financial system lie in making their financial services more available to the region over the coming years. |
| first_indexed | 2025-11-15T10:18:19Z |
| format | Conference or Workshop Item |
| id | upm-48827 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T10:18:19Z |
| publishDate | 2013 |
| publisher | School of Economics, Faculty of Economics and Management, Universiti Kebangsaan Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-488272016-11-01T03:51:28Z http://psasir.upm.edu.my/id/eprint/48827/ Financial convergence in the Asia Pacific economies Ibrahim, Juliana Habibullah, Muzafar Shah Asia Pacific Economic Cooperation (APEC) is an example of a regionalism with aims to improve quality of growth and strengthen regional economic integration through free and open trade and investment. The purpose of this study is to investigate how far have Malaysia performed from its financial development perspective compared to the other member countries and simultaneously address the issue whether the formation of APEC as an economic cooperation has been successful or remains heterogeneous. By applying annual panel data, the hierarchical cluster results suggest the existence of convergence clubs among the Asia Pacific countries. Malaysia is found to be converging towards richer countries’ convergence club. In this respect, in order for the national leaders to continue with strong commitment to support financial development with a shared commitment to the Asian regionalism, the countries with relatively under-developed financial system are expected to relieve their existing credit constraints. Meanwhile, the challenge for Malaysia and other countries with relatively well-developed financial system lie in making their financial services more available to the region over the coming years. School of Economics, Faculty of Economics and Management, Universiti Kebangsaan Malaysia 2013 Conference or Workshop Item PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/48827/1/Financial%20convergence%20in%20the%20Asia%20Pacific%20economies.pdf Ibrahim, Juliana and Habibullah, Muzafar Shah (2013) Financial convergence in the Asia Pacific economies. In: Eighth Malaysian National Economic Conference (PERKEM VIII), 7-9 June 2013, KSL Hotel & Resort, Johor Bahru, Johor, Malaysia. (pp. 1051-1058). http://www.ukm.my/fep/perkem/contents/perkem2013-2-09.html |
| spellingShingle | Ibrahim, Juliana Habibullah, Muzafar Shah Financial convergence in the Asia Pacific economies |
| title | Financial convergence in the Asia Pacific economies |
| title_full | Financial convergence in the Asia Pacific economies |
| title_fullStr | Financial convergence in the Asia Pacific economies |
| title_full_unstemmed | Financial convergence in the Asia Pacific economies |
| title_short | Financial convergence in the Asia Pacific economies |
| title_sort | financial convergence in the asia pacific economies |
| url | http://psasir.upm.edu.my/id/eprint/48827/ http://psasir.upm.edu.my/id/eprint/48827/ http://psasir.upm.edu.my/id/eprint/48827/1/Financial%20convergence%20in%20the%20Asia%20Pacific%20economies.pdf |