The Nexus Between Financial Development, Economic Growth and Poverty Alleviation: PMG-ARDL Estimation

IF 1 Q3 ECONOMICS
Etikonomi Pub Date : 2021-02-22 DOI:10.15408/ETK.V20I1.15908
Benjamin Korankye, Zuezhou Wen, Michael Appiah, L. Antwi
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引用次数: 4

Abstract

This study aims to find out the connections between financial development, economic growth, and poverty using panel data from 1985 to 2017 in fourteen African countries that many previous researchers ignore. The study deploys a dynamic Granger causality test to trace the nexus between financial development, economic growth, and poverty reduction in Africa in the long run. First, the upshots suggest a gross domestic product, gross capital formation, price of household consumption, and government expenditure substantially impacting poverty. Besides that, the result also shows a bi-directional in the long run using a PMG estimator. The findings broadly support the view that there is a stable, short-run relationship between financial development, economic growth, and poverty in the error correction terms. However, other variables show no causal relationship in the short run. In practicality, this study suggested some policy implications and supported governmental policies to reduce economic hardship on financial institutions . JEL Classification:  G10, O47, I39, C33 How to Cite: Korankye, B., Wen, X., Appiah, M., & Antwi, L. (2021). The Nexus Between Financial Development, Economic Growth, and Poverty Alleviation: PMG-ARDL Estimation. Etikonomi: Jurnal Ekonomi , 20(1), 1 – 12. https://doi.org/10.15408/etk.v20i1.15908.
金融发展、经济增长和扶贫之间的联系:PMG-ARDL估计
本研究旨在利用1985年至2017年的14个非洲国家的面板数据,找出金融发展、经济增长和贫困之间的联系,而许多以前的研究人员都忽略了这一点。本研究采用动态格兰杰因果检验来追踪非洲金融发展、经济增长和减贫之间的长期关系。首先,结果表明,国内生产总值(gdp)、资本形成总额、家庭消费价格和政府支出对贫困产生了重大影响。此外,使用PMG估计器的结果也显示了长期的双向性。研究结果广泛支持这样一种观点,即在误差校正方面,金融发展、经济增长和贫困之间存在稳定的短期关系。然而,其他变量在短期内没有显示出因果关系。在实践中,本研究提出了一些政策启示,并支持了政府减轻金融机构经济困难的政策。JEL分类:G10, O47, I39, C33如何引用:Korankye, B., Wen, X., Appiah, M., & Antwi, L.(2021)。金融发展、经济增长与扶贫之间的关系:PMG-ARDL估计。经济学报,20(1),1 - 12。https://doi.org/10.15408/etk.v20i1.15908。
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
Etikonomi
Etikonomi ECONOMICS-
自引率
12.50%
发文量
29
审稿时长
12 weeks
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