The impact of financial development on economic indicators: a dynamic panel data analysis

Wen, Jun; Mahmood, Hamid; Khalid, Samia; Zakaria, Muhammad

doi:10.1080/1331677x.2021.1985570

Cited by 48 publications

(30 citation statements)

References 54 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…However this finding is aligned with some recent studies that have shown negative impact of financial development on economic growth (Wen et al, 2021). One possible explanation of this negative effect of financial development could be that our study approximates financial development with one measure of financial depth -the ratio of domestic banks credit to private sector to GDP which is widely accepted variable, however does not take into account the complex multidimensional nature of financial development (Svirydzenka, 2016).…”

Section: Results Of the Researchsupporting

confidence: 88%

Untitled

2022

SPSUTOM

View full text Add to dashboard Cite

The paper investigates challenges associated with institutional leadership engagement of main staff to fill inner vacancies. Design/methodology/approach: The study rates merit, experience, rank, competencies, long service, in-depth knowledge, and deeper consultation as key requirements for appointment in some selected academic institutions. The survey collects data through questionnaires and semistructured interviews. The SPSS and descriptive statistics were used for the analysis of data presented in percentages, tables, and graphs. Findings: The results show that over 80% of respondents said that the prerogative of leaders in second-cycle institutions to share leadership needs a reassessment. As it undermines specific parameters and subsequently creates emotions among staff and unsatisfactory students' behaviours at school. The study found social and external factors as the basis for some nominations that weaken institutional unity and performance. Recommendation/limitations: The legislative instrument should be amended to suit the current management environment. Besides, ethical leadership and emotional intelligence should be encouraged at schools for effective management and harmony. Practical implications: Organizational failures across economies to a large extent are results of stimulus variables. Originality/value: The paper demonstrates how institutional leaders are often torn between stimulus and prospective variables resulting in self-interest to the detriment of institutional vision.

show abstract

Section: Results Of the Researchsupporting

confidence: 88%

Untitled

2022

SPSUTOM

View full text Add to dashboard Cite

show abstract

“…McKinnon (1973), Shaw (1973), Gupta (1984), King and Levine (1993), Levine and Zervos (1998), Rousseau and Watchel (1998), Rousseau (1999), Levine, Loayza and Beck (2000), Xu (2000), Arestis, Demetriades and Luintel (2001), Graff (2002), Calderon and Liu (2003), Ghirmay (2004), Christopoulos and Tsionas (2004), Rioja and Valev (2004), Beck and Levine (2004), Caporale, Howells and Soliman (2005), Shan (2005), Abu Bader and Abu-Qarn (2008), Enisan and Olufisayo (2009), Akinlo and Egbetunde (2010), Cooray (2010), Osuala et al (2013), Herwartz and Walle (2014), Seven and Yetkiner (2016), Durusu-Çiftci, İspir and Yetkiner (2017), Bayar et al (2018), Bekele and Degu (2021) found results that support the supply-leading hypothesis. A recent study by Wen et al (2021) investigates the effect of financial development on different economic growth indicators THE NEXUS OF FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH ACROSS DEVELOPING ECONOMIES with the data of 120 countries for the period 1997 to 2017. The results contradict the traditional supplylending hypothesis and reveal a negative impact of financial development on economic growth.…”

Section: Literaturementioning

confidence: 99%

The Nexus of Financial Development and Economic Growth Across Developing Economies

Okuyan

2022

South East European Journal of Economics and Business

View full text Add to dashboard Cite

The relationship between financial development and economic growth has been discussed in the literature, but there is no consensus on it. This study aims to examine the relationship between financial development and economic growth in terms of developing countries. The data of 19 developing countries were analyzed individually in an attempt to reveal which of the views explaining the relationship between financial development and economic growth is predominantly valid. In the analysis, the bounds test developed by Pesaran et al. (2001) was used to determine the cointegration relationship, and the Toda Yamamoto causality test (1995) was used to determine the causality relationship. As a result, causality was determined from economic growth to financial development in four countries and from financial development to economic growth in four countries. In 11 countries, no causality was found. The results support the view that no approach is valid for every country.

show abstract

“…money supply, and foreign aid are determinants of GDP growth in Cameroon. Wen et al (2021), in a panel study for 120 countries, applied the system GMM and found that nancial development exerts an adverse effect on GDP growth. Ustarz and Fanta (2021) From the above review, different studies have tried to identify the combinations of macroeconomic indicators crucial for long-term economic prosperity in various developing and emerging countries.…”

Section: Empirical Reviewmentioning

confidence: 99%

Macroeconomic Factors and the Prospects of Economic Prosperity in a Developing Economy: Evidence from Dynamic ARDL Simulations

Aladejare¹

2022

Preprint

View full text Add to dashboard Cite

This study investigated the effects of inflation and exchange rates, deficit financing, foreign investment, and financial development on economic prosperity measured by GDP per capita for Nigeria from 1970 to 2020. Empirical inferences were derived by applying the autoregressive distributed lag (ARDL), dynamic ARDL (DYNARDL), and the Kernel-based least squares (KRLS) models. It was observed that inflation rate and deficit financing adversely impacted economic wealth in the short and long term. At the same time, the exchange rate and financial development only benefited economic prosperity in the long term. In contrast, foreign investment was reported to be prosperity-decelerating in the long term. Applying the DYNARDL and KRLS techniques enabled the response of economic prosperity to future counterfactual shocks to the inflation and exchange rate variables. While inflationary shocks may have long-term beneficial effects on economic prosperity, shocks to the exchange rate will slightly erode these benefits. The study proposed several policy measures.JEL Classifications: E6, O11, O47.

show abstract

The impact of financial development on economic indicators: a dynamic panel data analysis

Cited by 48 publications

References 54 publications

Untitled

Untitled

The Nexus of Financial Development and Economic Growth Across Developing Economies

Macroeconomic Factors and the Prospects of Economic Prosperity in a Developing Economy: Evidence from Dynamic ARDL Simulations

Contact Info

Product

Resources

About