Technological advancement and regulatory quality

IF 3.1 2区经济学 Q1 DEVELOPMENT STUDIES

African Development Review-Revue Africaine De Developpement Pub Date : 2023-10-08 DOI:10.1111/1467-8268.12713

Jiahao Shen, Runze Liu, Yanling Lin, Ridwan Lanre Ibrahim

{"title":"Technological advancement and regulatory quality","authors":"Jiahao Shen, Runze Liu, Yanling Lin, Ridwan Lanre Ibrahim","doi":"10.1111/1467-8268.12713","DOIUrl":null,"url":null,"abstract":"Abstract This study investigates the intervening role of technological innovation and regulatory quality in the financial sector–sustainable economic growth nexus in accordance with SDG‐8 in 38 sub‐Saharan African (SSA) countries from 1996 to 2020. The empirical model endogenizes government expenditure, structural change, foreign direct investment, and human capital as covariates. The study verifies and examines the hypothesis by adopting common correlated mean group, system generalized method of moments, and panel quantile regression. Findings reveal that financial development drives sustainable economic growth in SSA for the long‐run model with improved magnitudinal effects observed with the intervention of technological innovation and regulatory quality. Furthermore, both technological innovation and regulatory quality promote sustainable economic growth in SSA. Moreover, structural change, foreign direct investment and government are boosters for sustainable economic growth whereas military expenditure hinders the growth. Recommendations are made based on the findings.","PeriodicalId":47363,"journal":{"name":"African Development Review-Revue Africaine De Developpement","volume":null,"pages":null},"PeriodicalIF":3.1000,"publicationDate":"2023-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"African Development Review-Revue Africaine De Developpement","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1111/1467-8268.12713","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"DEVELOPMENT STUDIES","Score":null,"Total":0}

引用次数: 0

Abstract

Abstract This study investigates the intervening role of technological innovation and regulatory quality in the financial sector–sustainable economic growth nexus in accordance with SDG‐8 in 38 sub‐Saharan African (SSA) countries from 1996 to 2020. The empirical model endogenizes government expenditure, structural change, foreign direct investment, and human capital as covariates. The study verifies and examines the hypothesis by adopting common correlated mean group, system generalized method of moments, and panel quantile regression. Findings reveal that financial development drives sustainable economic growth in SSA for the long‐run model with improved magnitudinal effects observed with the intervention of technological innovation and regulatory quality. Furthermore, both technological innovation and regulatory quality promote sustainable economic growth in SSA. Moreover, structural change, foreign direct investment and government are boosters for sustainable economic growth whereas military expenditure hinders the growth. Recommendations are made based on the findings.

查看原文本刊更多论文

技术进步和监管质量

本文研究了1996 - 2020年38个撒哈拉以南非洲(SSA)国家的技术创新和监管质量在金融部门-可持续经济增长关系中的干预作用，以可持续发展目标8为依据。实证模型将政府支出、结构变化、外国直接投资和人力资本作为协变量内化。采用共同相关均值组、系统广义矩量法和面板分位数回归对假设进行了验证和检验。研究结果表明，在长期模型中，金融发展推动了SSA的可持续经济增长，并在技术创新和监管质量的干预下观察到改善的幅度效应。此外，技术创新和监管质量都促进了区域经济的可持续增长。此外，结构变化，外国直接投资和政府是可持续经济增长的助推器，而军费开支阻碍了增长。建议是根据调查结果提出的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

African Development Review-Revue Africaine De Developpement DEVELOPMENT STUDIES-

CiteScore

5.60

自引率

24.10%

发文量