ANALISIS SISTEM KEUANGAN PADA PERTUMBUHAN EKONOMI NEGARA EMERGING MARKET ASEAN-4 TAHUN 1990-2016

Abstract

Financial system is one of key factor to economic sustainability. The importance of the functioning financial sector is used for economic development and transaction to achieve the desired growth rate. This research is aimed to explain the effect of financial system from several components toward the economic growth in emerging market countries in ASEAN, including: Indonesia, Malaysia, Philipina and Thailand. The method used in this research is panel data regression analysis. The estimation results showing that financial system represented as the independent variables, consist of credit domestic to sector private (CDR), capital bruto (CB), and inflation (INF), simultaneously affecting GDP in significant way at probability error level (α=5%). In the other hand, in partial test, all independent variables effect GDP significantly at probability error level (α=5%).