The Impacts of Financial Liberalization on Growth: The Case of 4-ASEAN Economies
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Abstract
The aim of this paper is to analyze the positive/negative effects of financial
liberalization, through exchange rate variation, on growth. This paper focuses on
four ASEAN countries, and investigates the relationship of exchange rate variation
with financial depth, saving rate and capital to GDP ratio which have a positive effect
on growth. The results show that the country with better financial system has more
positive or less negative effect.
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