The Effect of Financial Development on Unemployment in Emerging Market Countries

Q2 Economics, Econometrics and Finance

Global Journal of Emerging Market Economies Pub Date : 2022-10-04 DOI:10.1177/09749101221116715

I. Raifu, J. Afolabi

引用次数: 5

Abstract

This study examined the effect of financial development on unemployment in 19 emerging market countries, considering their age groups and gender dichotomy. The data covers the period from 1991–2019. Pooled Ordinary Least Square (OLS), Dynamic OLS, and quantile regression via moments were employed as the estimation methods. Robustness was tested with Fully Modified OLS and Canonical Cointegration Regression (CCR) estimation methods. Our results show that financial development has a conditional mean reducing effect on unemployment and a reducing effect on the distribution of unemployment. However, the reducing effect of financial development on the distribution of unemployment varies across the working-age population and youths. Thus, there is a need to formulate and implement a long-term financial policy to ensure economic growth and guarantee employment for the working-age population and the youths irrespective of gender.

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新兴市场国家金融发展对失业的影响

本研究考察了19个新兴市场国家的金融发展对失业的影响，考虑了他们的年龄和性别二分法。数据涵盖1991年至2019年。采用Pooled Ordinary Least Square (OLS)、Dynamic OLS和分位数矩回归作为估计方法。采用全修正OLS和典型协整回归(CCR)估计方法检验稳健性。研究结果表明，金融发展对失业有条件平均降低效应，对失业分布有条件平均降低效应。然而，金融发展对失业分布的减少效应在工作年龄人口和年轻人之间有所不同。因此，有必要制订和执行一项长期财政政策，以确保经济增长，并保证不分性别的工作年龄人口和青年的就业。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Global Journal of Emerging Market Economies Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)

CiteScore

2.70

自引率

0.00%

发文量

期刊介绍： Global Journal of Emerging Market Economies is a peer-reviewed journal. The aim of the journal is to provide an international platform for knowledge sharing, discussion and networking on the various aspects related to emerging market economies through publications of original research. It aims to make available basic reference material for policy-makers, business executives and researchers interested in issues of fundamental importance to the economic prospects and performance of emerging market economies. The topics for discussion are related to the following general categories: D. Microeconomics E. Macroeconomics and Monetary Economics F. International Economics G. Financial Economics H. Public Economics I. Health, Education, and Welfare J. Labor and Demographic Economics L. Industrial Organization O. Economic Development, Innovation, Technological Change, and Growth Q. Agricultural and Natural Resource Economics • Environmental and Ecological Economics R. Urban, Rural, Regional, Real Estate, and Transportation Economics Additionally, the journal would be most interested to publish topics related to Global Financial Crisis and the Impact on Emerging Market Economies Economic Development and Inclusive Growth Climate Change and Energy Infrastructure Development and Public Private Partnerships Capital Flows to and from Emerging Market Economies Regional Cooperation Trade and Investment and Development of National and Regional Financial Markets The Belt and Road Initiative.