Please use this identifier to cite or link to this item: http://hdl.handle.net/10995/111596
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dc.contributor.authorSohag, K.en
dc.contributor.authorShams, S. M. R.en
dc.contributor.authorOmar, N.en
dc.contributor.authorChandrarin, G.en
dc.date.accessioned2022-05-12T08:19:30Z-
dc.date.available2022-05-12T08:19:30Z-
dc.date.issued2019-
dc.identifier.citationComparative Study on Finance-growth Nexus in Malaysia and Indonesia: Role of Institutional Quality / K. Sohag, S. M. R. Shams, N. Omar et al. // Strategic Change. — 2019. — Vol. 28. — Iss. 5. — P. 387-398.en
dc.identifier.issn1099-1697-
dc.identifier.otherAll Open Access, Green3
dc.identifier.urihttp://hdl.handle.net/10995/111596-
dc.description.abstractThe impact of financial development (FD) on economic growth in the context of Malaysia and Indonesia has been examined in this study regarding the role of the financial crisis and strategic changes in the institutional setup. Autoregressive distributed lags and threshold regression were applied, and time series data were analyzed for the period between 1984 and 2017 revealing that FD promoted the economic growth in both economies during this period. A nonlinear analysis also revealed that FD and economic growth follow an inverted U-shape relation in the case of Malaysia whereas, in Indonesia, it followed a U-shape relation. It was discovered that not all measures of FD promote economic growth. For instance, market capitalization was profound in the Malaysian economy while credit to the private sector and money supply was conducive for the Indonesian economy. The analysis demonstrated that the Asian and global financial crisis adversely affected economic growth in the case of Indonesia due to poor institutional quality (IQ), whereas in Malaysia it was relatively safe from the adversity brought about by the financial crisis due to the presence of IQ and good corporate governance. However, a positive change in IQ was found to have a much greater impact on augmenting economic growth rather than playing a mediating role in connection with FD and economic growth in Malaysia. In the context of Indonesia however, IQ was found to impede economic growth but played a positive and significant mediating role in the nexus of FD and economic growth. The spill-over analysis revealed that Malaysian FD is positively associated with Indonesian economic growth while Indonesian FD is negatively associated with the Malaysian economy. This study provided all economic and anecdotal explanations in supporting the results of this study. © 2019 John Wiley & Sons, Ltd.en
dc.format.mimetypeapplication/pdfen
dc.language.isoenen
dc.publisherWiley-Blackwell Publishing Asiaen1
dc.publisherWileyen
dc.rightsinfo:eu-repo/semantics/openAccessen
dc.sourceStrateg. Change2
dc.sourceStrategic Changeen
dc.titleComparative Study on Finance-growth Nexus in Malaysia and Indonesia: Role of Institutional Qualityen
dc.typeArticleen
dc.typeinfo:eu-repo/semantics/articleen
dc.typeinfo:eu-repo/semantics/acceptedVersionen
dc.identifier.scopus85071750416-
local.contributor.employeeSohag, K., Graduate School of Economics and Management, Ural Federal University, Ekaterinburg, Russian Federation, Accounting Research Institute, Universiti Teknologi MARA, Shah Alam, Malaysia; Shams, S.M.R., Newcastle Business School, Northumbria University, United Kingdom; Omar, N., Accounting Research Institute, Universiti Teknologi MARA, Shah Alam, Malaysia; Chandrarin, G., Graduate School, University of Merdeka Malang, East Java, Indonesiaen
local.description.firstpage387-
local.description.lastpage398-
local.issue5-
local.volume28-
local.contributor.departmentGraduate School of Economics and Management, Ural Federal University, Ekaterinburg, Russian Federation; Newcastle Business School, Northumbria University, United Kingdom; Accounting Research Institute, Universiti Teknologi MARA, Shah Alam, Malaysia; Graduate School, University of Merdeka Malang, East Java, Indonesiaen
local.identifier.pure10772547-
local.identifier.eid2-s2.0-85071750416-
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