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DETERMINANTS OF FINANCIAL DEVELOPMENT: EVIDENCE FROM ASEAN COUNTRIES |
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| รหัสดีโอไอ | |
| Creator | Toan Ngoc Bui |
| Title | DETERMINANTS OF FINANCIAL DEVELOPMENT: EVIDENCE FROM ASEAN COUNTRIES |
| Contributor | - |
| Publisher | TuEngr Group |
| Publication Year | 2563 |
| Journal Title | International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies |
| Journal Vol. | 11 |
| Journal No. | 4 |
| Page no. | 11A04I: 1-9. |
| Keyword | Domestic credit, Economic growth, Inflation, Government expenditure, GMM, ASEAN macroeconomics. |
| URL Website | http://TuEngr.com/Vol11_4.html |
| Website title | ITJEMAST V11(4) 2020 @ TuEngr.com |
| ISSN | 2228-9860 |
| Abstract | This article examines the determinants of financial development in ASEAN countries. In particular, financial development (FD) is measured through domestic credit to the private sector (% of GDP). The study data was collected from the World Bank during 2004-2017. Using the Generalized Method of Moment (GMM), this article has found the first empirical evidence on the determinants of financial development in ASEAN countries. In particular, FD is negatively affected by economic growth (EG) and in?ation (INF). Not only that, but FD is also positively affected by financial development with one-period lag (FDt-1). The results of this study are important for ASEAN countries. Indeed, based on the study results, ASEAN countries will have a reliable basis for operating macroeconomics associated with financial development more effectively and sustainably. |
