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Financial Development Impact Towards Economic Growth And Income Inequality In 5-asean Countries

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dc.contributor.authorAsmah Mohd. Jaapar
dc.contributor.authorAmira Batrisyia Aziz
dc.contributor.authorNurhatiah Ahmad Chukari
dc.date.accessioned2024-09-05T17:05:12Z
dc.date.available2024-09-05T17:05:12Z
dc.date.issued2024
dc.date.submitted2024-8-31
dc.descriptionSemarak International Journal of Modern Accounting and Finance, Volume 1 Issue 1 Page (29–47)
dc.description.abstractFinancial development is essential in influencing a country's economic environment. ASEAN countries exhibit varying degrees of financial sector maturity, ranging from highly developed to less develop. Nevertheless, its banking sectors are relatively well-developed. The article aims to examine the impact of financial development on economic growth and income inequality in five ASEAN countries. The study examines a bank-based financial system using the ratioof domestic credit to the private sector to GDP as a measure of financial development. The study utilises panel data regression analysis spanning from 1990 to 2020. Other economic drivers included in the models as control variables are human capital, labour force growth rate, government expenditure, physical capital, inflation, and trade openness. The findings of this study suggest that financial development in five ASEAN countries has a significant negative relationship with economic growth while positively related to income disparity This study uncovers adverse outcomes on the impact of financial development, highlighting the need for legislative reform to improve the efficiency of the banking sector in delivering financial services to all societal groups.
dc.identifier.citationAsmah Mohd. Jaapa, Amira Batrisyia Aziz & Nurhatiah Ahmad Chukari Financial Development Impact Towards Economic Growth and Income Inequality in 5-Asean Countries. (2024). Semarak International Journal of Modern Accounting and Finance, 1(1), 29–47.
dc.identifier.epage47
dc.identifier.issnxxx-xxxx
dc.identifier.issue1
dc.identifier.spage29
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/22516
dc.identifier.urihttps://semarakilmu.com.my/journals/index.php/sijmaf/article/view/9223/5851
dc.identifier.volume1
dc.language.isoen_US
dc.publisherSemarak Ilmu Publishing
dc.relation.ispartofSemarak International Journal in Modern Accounting and Finance
dc.relation.issn3030-6329
dc.relation.journalSemarak International Journal of Modern Accounting and Finance
dc.subjectASEAN
dc.subjecteconomic growth
dc.subjectfinancial development
dc.subjectincome inequality
dc.subjectpanel data regression
dc.titleFinancial Development Impact Towards Economic Growth And Income Inequality In 5-asean Countries
dc.typetext::journal::journal article::research article
dspace.entity.typePublication
oaire.citation.endPage47
oaire.citation.issue1
oaire.citation.startPage29
oaire.citation.volume1
oairecerif.author.affiliationUniversiti Sains Islam Malaysia
oairecerif.author.affiliationUniversiti Sains Islam Malaysia
oairecerif.author.affiliationUniversiti Sains Islam Malaysia

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