Financial development and institutional quality among emerging economies

Abstract

PurposeThis study examines how institutional quality influences variability in financial development among economies in Sub-Saharan Africa (SSA).Design/methodology/approachEmpirical estimations verifying various relationships are performed using the limited information maximum likelihood (LIML) estimation technique.FindingsThe results suggest that institutional quality enhances the pace of financial development among economies in the sub-region all things being equal. In a further micro-level analysis where components of institutional quality index are examined separately, the study’s results suggest that effective governance, regulatory quality, rule of law and accountability tend to have a significant positive impact on financial sector development.Research limitations/implicationsFindings of the study suggest that policies geared towards improving governance and regulatory institutions can augment development of the financial sector among economies in SSA; governments and policymakers are therefore encouraged to resource noted institutions to play effective roles for the development of the financial sector.Originality/valueCompared to related studies, this study reorients existing paradigm, which emphasizes the role of governance and institutional variables in the economic growth discourse. The authors’ empirical inquiry rather focuses on how governance and institutional structures influence regional financial development dynamics. Specifically, this study differs from most macro-level studies found in literature because it examines the impact of hitherto unexamined governance and institutional variables on financial development among economies in SSA.

Using a Unified Model of TPB, NAM, and SOBC to Investigate the Energy-Saving Behaviour of Urban Residents in Vietnam: Moderation Role of Cultural Values

“…After that, the multiple linear regression analysis was utilized to test the hypotheses. This analysis technique is appropriate for hypotheses with interaction impacts [56,[63][64][65]. In addition, Model 4 and Model 6 of the PROCESS macro approach, with 5000 bias-corrected bootstrapping samples [57,58,66,67], were used to examine mediate and moderate effects, respectively.…”

“…Individuals with a long-term orientation are not inspired by temporary results but by future rewards [64]. In a long-term-oriented culture, individuals will be willing to take actions that they find inconvenient, such as turning off the lights and air-conditioner, for a better future for themselves and their community [65]. Furthermore, in the field of sustainability, previous studies have demonstrated that long-term orientation is related to attitudes toward pro-social behaviours [66], pro-environmental intentions and behaviours [67], and even promoting the translation from pro-social attitudes and intentions into actual pro-social behaviours [68].…”

Perceived Barriers and Intentions to Receive COVID-19 Vaccines: Psychological Distress as a Moderator

“…All scales used in our study were modified from prior studies. Specifically, the first three items (ICV1, ICV2, and ICV3) of the scale regarding “intention to receive COVID-19 vaccines” were adopted from Chu and Liu [ 11 , 30 , 31 ], while the last items (ICV4, ICV5, ICV6, ICV7, ICV8) of this scale were modified from Mir et al [ 13 , 32 , 33 ]. The five-item scale to assess “attitudes towards receiving COVID-19 vaccines” was modified from Mir et al [ 13 , 34 , 35 , 36 ].…”

“…Certain restrictions and social distancing measures had been implemented. Therefore, the use of an online-based survey utilizing Google Forms was more appropriate [ 6 , 29 , 30 , 31 ]. Participants were clearly informed that their participation was completely voluntary, they could withdraw from the survey at any time, and all information was confidential and only used for academic purposes.…”

The Regulatory Quality and ESG Model at World Level

“…[2], [3], [16], [17], [22], [9], [23], [27] RQ, Environment and Energy [5], [6] , [10], [11], [24], [26] Miscellaneous [7], [13], [14], [18] RQ, Social and Demographic Issues [19], [20]…”