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Financial development and performance of palm oil industry in Malaysia

Author

Listed:
  • Syajarul Imna Mohd Amin
  • Aisyah Abdul-Rahman
  • Hawati Janor
  • Khairi Mohd Asri

    (Center for Sustainable and Inclusive Development, Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia
    Center for Sustainable and Inclusive Development, Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia
    Center for Sustainable and Inclusive Development, Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia
    Center for Sustainable and Inclusive Development, Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia)

Abstract

The finance-growth nexus is gaining credence among researchers. Growing research interest in developing evidences for different economic sectors has ignited this study to examine the topic in agricultural sector for Malaysia. The analysis focuses on palm oil industry using data for the period 1981 to 2017 using the Autoregressive Distributed Lagged (ARDL-bounds) approach. Financial development measures financial depth, accessibility, efficiency, and stability. Other variables include production factors such as land, labour and capital. Findings/Originality: The findings show that the depth of financial market has positive impact on palm oil industry performance both in the short run and long run, though the depth of the financial institutions only take effect in the long run. Meanwhile the financial accessibility, efficiency and stability have no significant effect on the productivity of the industry. It implies that the equity market development is more relevant to affect the palm oil industry compared to credit market development.

Suggested Citation

  • Syajarul Imna Mohd Amin & Aisyah Abdul-Rahman & Hawati Janor & Khairi Mohd Asri, 2019. "Financial development and performance of palm oil industry in Malaysia," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 11(2), pages 135-151, October.
    • Handle: RePEc:uii:journl:v:11:y:2019:i:2:p:135-151
    DOI: 10.20885/ejem.vol11.iss2.art2
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    More about this item

    Keywords

    Financial development; finance-growth nexus; Malaysia palm oil industry; ARDL;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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