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Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach

This paper aims to investigate the causal relationship between nonbank financial intermediaries (NBFIs) and per capita economic growth in Malaysia for the period 1974-2004. The study employs the ARDL bounds testing approach to cointegration. The Granger non causality test in a multivariate vector er...

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Main Authors: Islam, Mohd Aminul, Zakaullah, Muhamad Arif
Format: Conference or Workshop Item
Language:English
Published: 2009
Subjects:
HB131 Methodology.Mathematical economics. Quantitative methods
Online Access:http://irep.iium.edu.my/12917/1/Conference_Curtin_University_Sarawak.pdf
http://irep.iium.edu.my/12917/
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spelling my.iium.irep.129172012-01-12T08:24:38Z http://irep.iium.edu.my/12917/ Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach Islam, Mohd Aminul Zakaullah, Muhamad Arif HB131 Methodology.Mathematical economics. Quantitative methods This paper aims to investigate the causal relationship between nonbank financial intermediaries (NBFIs) and per capita economic growth in Malaysia for the period 1974-2004. The study employs the ARDL bounds testing approach to cointegration. The Granger non causality test in a multivariate vector error correction mechanism (VECM) framework is carried out to ascertain the direction of causality among the variables. The test result suggests that nonbank financial intermediaries and economic growth are cointegrated when economic growth is the dependent variable but are not cointegrated when the other variables are treated as the dependent variables. The result shows evidence of a long-run causality running from nonbank financial intermediaries to per capita economic growth, but not vice versa. 2009-12-10 Conference or Workshop Item REM application/pdf en http://irep.iium.edu.my/12917/1/Conference_Curtin_University_Sarawak.pdf Islam, Mohd Aminul and Zakaullah, Muhamad Arif (2009) Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach. In: Curtin International Business Conference (CIBC)-2009, December 10 - 12, 2009, Sarawak, Malaysia. (Unpublished)
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic HB131 Methodology.Mathematical economics. Quantitative methods
spellingShingle HB131 Methodology.Mathematical economics. Quantitative methods
Islam, Mohd Aminul
Zakaullah, Muhamad Arif
Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach
description This paper aims to investigate the causal relationship between nonbank financial intermediaries (NBFIs) and per capita economic growth in Malaysia for the period 1974-2004. The study employs the ARDL bounds testing approach to cointegration. The Granger non causality test in a multivariate vector error correction mechanism (VECM) framework is carried out to ascertain the direction of causality among the variables. The test result suggests that nonbank financial intermediaries and economic growth are cointegrated when economic growth is the dependent variable but are not cointegrated when the other variables are treated as the dependent variables. The result shows evidence of a long-run causality running from nonbank financial intermediaries to per capita economic growth, but not vice versa.
format Conference or Workshop Item
author Islam, Mohd Aminul
Zakaullah, Muhamad Arif
author_facet Islam, Mohd Aminul
Zakaullah, Muhamad Arif
author_sort Islam, Mohd Aminul
title Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach
title_short Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach
title_full Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach
title_fullStr Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach
title_full_unstemmed Cointegration and causality between non-bank financial intermediaries and economic growth in Malaysia: an ARDL bounds testing approach
title_sort cointegration and causality between non-bank financial intermediaries and economic growth in malaysia: an ardl bounds testing approach
publishDate 2009
url http://irep.iium.edu.my/12917/1/Conference_Curtin_University_Sarawak.pdf
http://irep.iium.edu.my/12917/
_version_ 1643606676566179840
score 13.211869

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