TY  - BOOK
AU  - Malarvizhi, Chinnasamy Agamudai Nambhi 
AU  - Zeynali, Yashar 
AU  - Mamun, Abdullah Al 
AU  - Ahmad, Ghazali Bin 
TI  - Financial Development and Economic Growth in ASEAN-5 Countries 
KW  - Financial performance
KW  - Economic growth
KW  - Capital accumulation
KW  - Efficiency
N2  - This article explores the relationship between financial sector development and economic growth, using a sample of ASEAN-5 countries (Malaysia, Indonesia, Singapore, Thailand and Philippines) from 1980 to 2011. More specifically, this study investigates whether higher levels of financial development (FD) are significantly and robustly correlated with faster current and future rates of economic growth, physical capital accumulation and economic efficiency improvements. Findings of this study revealed that FD has a significant positive effect on economic growth. However, the estimated models show that the influence of FD, as a determinant for economic growth of ASEAN-5 countries, is less than that of domestic investment and export
ER  -