Financial Institutions Dynamics, Investments and Development

IF 1.2 Q3 BUSINESS, FINANCE
Rexford Abaidoo, Elvis Kwame Agyapong
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引用次数: 0

Abstract

The study evaluates how specific features of financial institutions and investment sources influence enduring development among economies in the sub-region of Sub-Saharan Africa (SSA). Data for the interactions in question were compiled from 36 economies in SSA from 1996 to 2019, and various empirical estimates were carried out using the two-step system Generalized Method of Moments statistical framework. Results from the analyses suggest that growth in depth, improved access, and efficiency of financial institutions foster long-term development among economies in the sub-region. Investments in various forms were found to have a varied augmenting impact on long-term development. Further empirical analyses suggest that quality of governance has a significant positive moderating impact on how net foreign direct investment and domestic investments influence development among economies in the sub-region. Political instability is, however, found to negate gains to development from both investment growth and contributions from financial institutions. JEL Codes: C33, G2, E13
金融机构动态、投资与发展
该研究评估了金融机构和投资来源的具体特征如何影响撒哈拉以南非洲次区域经济体的持久发展。1996年至2019年,SSA的36个经济体汇编了有关相互作用的数据,并使用两步系统广义矩方法统计框架进行了各种实证估计。分析结果表明,金融机构的深度增长、准入改善和效率促进了次区域经济体的长期发展。人们发现,各种形式的投资对长期发展产生了各种各样的增强影响。进一步的实证分析表明,治理质量对净外国直接投资和国内投资如何影响次区域经济体的发展具有显著的正向调节影响。然而,人们发现,政治不稳定抵消了投资增长和金融机构捐款对发展的好处。JEL代码:C33、G2、E13
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来源期刊
CiteScore
1.80
自引率
33.30%
发文量
19
期刊介绍: The Journal of Emerging Market Finance is a forum for debate and discussion on the theory and practice of finance in emerging markets. While the emphasis is on articles that are of practical significance, the journal also covers theoretical and conceptual aspects relating to emerging financial markets. Peer-reviewed, the journal is equally useful to practitioners and to banking and investment companies as to scholars.
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