Financial development and self-employment

Kananurak, Papar; Sirisankanan, Aeggarchat

doi:10.1108/ijdi-11-2019-0190

Cited by 3 publications

(2 citation statements)

References 30 publications

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“…The contribution of the current study can be enlisted as: first, the current analysis offers robustness to some recent studies arranged by Khan et al (2022), and Kananurak and Sirisankanan (2020). By considering the same variables and alternative data specification, the current analysis adds new shreds to the recent literature regarding the determinants of employment rate.…”

Section: Introductionmentioning

confidence: 80%

“…Therefore, the issue of unemployment is a key agenda in most policy development debates. Moreover, some recent studies have attempted to explore some key factors, for example, FDI inflow (Khan et al, 2022), export volume (Kim & Go, 2022), and financial development (Kananurak & Sirisankanan, 2020) that can play a dynamic role in boosting the employment opportunities. In addition to creating extreme poverty, the high unemployment rate also enhances crime rates, social insecurity, and inferior complexity among societies.…”

Section: Introductionmentioning

confidence: 99%

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Effect of financial sector development and FDI inflow on employment rate in South Asia: New empirical evidence from ARDL approach

Farooq,

Tabash,

Al‐Faryan

et al. 2024

Journal of Public Affairs

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The current analysis aims to explore the empirical nexus between financial development, foreign direct investment (FDI) inflow, and employment rate. To attain this aim, we collect 30 years of annual data over the period 1990 to 2019 from South Asian economies and employ the autoregressive dynamic least square (ARDL) model for regression analysis. The implication of the ARDL model was subject to the mixed stationarity status of the series as assessed by unit root testing. The robustness of the analysis was checked by employing the fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) models. The statistical analysis infers that both financial development and FDI inflow enhance the employment rate in the South Asia region. In addition, the empirical analysis infers that the gross capital formation, economic growth, and export volume have a positive while the population growth rate has a negative effect on the employment rate. The impact of underlying explanatory variables was found significant only in long run. The estimated coefficient values in the case of FMOLS and DOLS models support the direction of the relationship between explanatory variables and employment rate, implying the robustness of the analysis. The findings of the current analysis can be used to devise efficient economic policies to cope with the encroaching issue of unemployment in the South Asia region. This study offers the robustness to existing literature and complements the literature by exploring the underlying arrangement of study to the whole South Asia group.

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Section: Introductionmentioning

confidence: 80%

Section: Introductionmentioning

confidence: 99%

Effect of financial sector development and FDI inflow on employment rate in South Asia: New empirical evidence from ARDL approach

Farooq,

Tabash,

Al‐Faryan

et al. 2024

Journal of Public Affairs

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Self-employment, financial access and economic welfare: empirical evidence from Africa

Kunawotor,

Ahiabor

2024

JFEP

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Purpose This study aims to investigate the empirical linkages between self-employment, financial access and economic welfare in Africa. It particularly examines the moderating role of financial access in the self-employment-economic welfare nexus and determines relevant thresholds. Design/methodology/approach The paper samples 52 African economies from 2000 to 2018 and deploys the fixed effects and bootstrap quantile regression estimators. Findings The results show that self-employment has a negative and significant relationship with economic welfare, while access to finance has a positive and significant relationship with welfare. More notably, the conditional effect of self-employment and finance is significant and positive, confirming a synergetic effect. The result suggests that pushing more people into self-employment does not necessarily enhance economic welfare, other than the avoidance of unemployment, due to the large number of replicative and necessity entrepreneurs. However, granting the self-employed more access to affordable finance that boosts entrepreneurial activities enhances economic welfare. Practical implications African governments and relevant policymakers must recognize that deepening the financial sector is crucial in creating sustainable opportunity entrepreneurs and boosting general economic welfare. Originality/value The uniqueness of this paper centers on the exposé of the relevance of financial access/development in promoting the economic welfare of self-employed persons and entrepreneurs. It also determines relevant thresholds at which finance is most significant in procuring positive impacts on economic welfare. In addition, the simultaneous quantile regression is used to show snapshots of human development index at which this impact is paramount.

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The Contribution of Financial Development to Formalization Through Economic Growth: Evidence From Cross-Country Data

Sirisankanan

Kananurak

2022

J. Dev. Entrepreneurship

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The aim of the paper is to formulate empirical specification models to examine whether financial development stimulates economic growth and encourages formalization. Cross-country data analysis of 140 sample countries during the period from 2000 to 2018 were utilized, together with new indexes of financial development. The income decomposition method and the two-step estimation approach, together with the multiple linear regression with interactions effect, were employed as empirical methods. It was found that financial development can lower informal self-employment through economic growth. Financial development also contributes to economic growth. Therefore, development of financial markets and financial institutions should be an alternative policy to control informal employment.

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Financial development and self-employment

Cited by 3 publications

References 30 publications

Effect of financial sector development and FDI inflow on employment rate in South Asia: New empirical evidence from ARDL approach

Effect of financial sector development and FDI inflow on employment rate in South Asia: New empirical evidence from ARDL approach

Self-employment, financial access and economic welfare: empirical evidence from Africa

The Contribution of Financial Development to Formalization Through Economic Growth: Evidence From Cross-Country Data

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