THE CONTRIBUTION OF FINANCIAL DEVELOPMENT TO FORMALIZATION THROUGH ECONOMIC GROWTH: EVIDENCE FROM CROSS-COUNTRY DATA

IF 1.3 Q3 BUSINESS

Journal of Developmental Entrepreneurship Pub Date : 2022-09-01 DOI:10.1142/s1084946722500212

Aeggarchat Sirisankanan, P. Kananurak

引用次数: 0

Abstract

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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金融发展通过经济增长对正规化的贡献:来自跨国数据的证据

本文的目的是建立实证规范模型来检验金融发展是否刺激经济增长并鼓励正规化。利用2000年至2018年140个样本国家的跨国数据分析，并采用新的金融发展指标。实证方法采用收入分解法、两步估计法以及具有交互效应的多元线性回归。研究发现，金融发展可以通过经济增长降低非正规个体就业。金融发展也有助于经济增长。因此，发展金融市场和金融机构应成为控制非正规就业的备选政策。

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

Journal of Developmental Entrepreneurship BUSINESS-

CiteScore

2.10

自引率

0.00%

发文量

期刊介绍： The Journal of Developmental Entrepreneurship (JDE) provides a forum for the dissemination of descriptive, empirical, and theoretical research that focuses on issues concerning microenterprise and small business development, especially under conditions of adversity. The intended audiences for JDE are scholars who study issues of developmental entrepreneurship and professionals involved in governmental and non-governmental efforts to facilitate entrepreneurship in economic and community development programs around the world. Articles will cover a broad range of topics, including: -Entrepreneurship and self-employment in developing contexts -Challenges and opportunities unique to minority and women entrepreneurs -Microenterprise funds and private-sector small business lending practices -Legislation, regulation, and tax policy that impact entrepreneurship and economic development -Processes that facilitate growth and development within emerging enterprises -Networks within and among entrepreneurial ventures -Marketing patterns and approaches in venture growth and development -International developmental entrepreneurship programs -Entrepreneurship in the informal economic sector -Education and training for aspiring entrepreneurs -Industry practices that adversely affect microenterprise development -Economic and social impacts of microenterprise activity