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Economic growth, financial development, and institutions : a review of the literature

Economic growth is affected by financial development, spurring researchers to engage in studying the indicators as well as the extent of the effect of financial development. However, the effect might differ between countries because of unique institutional quality in term of corruptions level, gover...

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Main Authors: Muhammad Sodbir Hamzah,, Hussin Abdullah,, Mohamad Shukri Abdul Hamid,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2019
Online Access:http://journalarticle.ukm.my/20105/1/35103-109789-1-SM.pdf
http://journalarticle.ukm.my/20105/
https://ejournal.ukm.my/ebangi/issue/view/1213
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spelling my-ukm.journal.201052022-10-12T04:28:41Z http://journalarticle.ukm.my/20105/ Economic growth, financial development, and institutions : a review of the literature Muhammad Sodbir Hamzah, Hussin Abdullah, Mohamad Shukri Abdul Hamid, Economic growth is affected by financial development, spurring researchers to engage in studying the indicators as well as the extent of the effect of financial development. However, the effect might differ between countries because of unique institutional quality in term of corruptions level, government bureaucracy, law and order, and risk of investment. Hence, the main aim of this study is to look at the effect of financial development on economic growth and the effect of institutions in interacting with financial development. To achieve the aim, theoretical and empirical studies are reviewed focusing on the effect of institutions and financial development on economic growth. The findings revealed that in general, indicators for financial development can be associated with the banking sector, stock market or trade openness. Upon interacting with institutions, the effect becomes more significant depending on the level on the countries’ institutional quality. Further studies are necessary in looking at the effect between countries and to assess the impact by contemplating the institutional quality. Penerbit Universiti Kebangsaan Malaysia 2019 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/20105/1/35103-109789-1-SM.pdf Muhammad Sodbir Hamzah, and Hussin Abdullah, and Mohamad Shukri Abdul Hamid, (2019) Economic growth, financial development, and institutions : a review of the literature. e-BANGI: Jurnal Sains Sosial dan Kemanusiaan, 16 (8). pp. 1-16. ISSN 1823-884x https://ejournal.ukm.my/ebangi/issue/view/1213
institution Universiti Kebangsaan Malaysia
building Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description Economic growth is affected by financial development, spurring researchers to engage in studying the indicators as well as the extent of the effect of financial development. However, the effect might differ between countries because of unique institutional quality in term of corruptions level, government bureaucracy, law and order, and risk of investment. Hence, the main aim of this study is to look at the effect of financial development on economic growth and the effect of institutions in interacting with financial development. To achieve the aim, theoretical and empirical studies are reviewed focusing on the effect of institutions and financial development on economic growth. The findings revealed that in general, indicators for financial development can be associated with the banking sector, stock market or trade openness. Upon interacting with institutions, the effect becomes more significant depending on the level on the countries’ institutional quality. Further studies are necessary in looking at the effect between countries and to assess the impact by contemplating the institutional quality.
format Article
author Muhammad Sodbir Hamzah,
Hussin Abdullah,
Mohamad Shukri Abdul Hamid,
spellingShingle Muhammad Sodbir Hamzah,
Hussin Abdullah,
Mohamad Shukri Abdul Hamid,
Economic growth, financial development, and institutions : a review of the literature
author_facet Muhammad Sodbir Hamzah,
Hussin Abdullah,
Mohamad Shukri Abdul Hamid,
author_sort Muhammad Sodbir Hamzah,
title Economic growth, financial development, and institutions : a review of the literature
title_short Economic growth, financial development, and institutions : a review of the literature
title_full Economic growth, financial development, and institutions : a review of the literature
title_fullStr Economic growth, financial development, and institutions : a review of the literature
title_full_unstemmed Economic growth, financial development, and institutions : a review of the literature
title_sort economic growth, financial development, and institutions : a review of the literature
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2019
url http://journalarticle.ukm.my/20105/1/35103-109789-1-SM.pdf
http://journalarticle.ukm.my/20105/
https://ejournal.ukm.my/ebangi/issue/view/1213
_version_ 1748181767980843008
score 13.211869

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