撒哈拉以南非洲的机构和风险资本市场发展

IF 1.7 4区经济学 Q3 DEVELOPMENT STUDIES

Journal of International Development Pub Date : 2023-12-03 DOI:10.1002/jid.3864

Ebenezer Boateng, Peterson Owusu Junior, John G. Gatsi, Adam M. Anokye, Mac Junior Abeka, Emmanuel Asafo-Adjei

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引用次数: 0

摘要

我们研究了经济制度和政治制度之间的关键相互作用，并评估了它们对撒哈拉以南非洲(SSA)风险资本市场发展的影响。为了解决模型规范中的内生性问题，2007年至2018年对34个SSA国家的样本采用了两步系统广义矩法。研究结果表明，加强经济制度的分类措施，包括法律制度和产权、政府规模、健全的货币、监管和国际贸易自由，促进了SSA风险资本市场的发展。最后，证据表明，政治制度制约着经济制度对风险资本市场发展的影响。对政策的影响作了进一步讨论。

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Institutions and venture capital market development in sub-Saharan Africa

We investigate the critical interplay between economic institutions and political institutions and assess their influence on venture capital market development in sub-Saharan Africa (SSA). To address endogeneity concern in our model specification, the two-step system generalised method of moments was employed on a sample of 34 SSA countries from 2007 to 2018. The findings reveal that strengthening disaggregated measures of economic institutions, comprising legal system and property rights, size of government, sound money, regulations, and freedom to trade internationally spur venture capital market development in SSA. Finally, the evidence indicates that political institutions condition the influence of economic institutions on venture capital market development. The implications for policy are further discussed.

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来源期刊

Journal of International Development DEVELOPMENT STUDIES-

CiteScore

2.40

自引率

0.00%

发文量

109

期刊介绍： The Journal aims to publish the best research on international development issues in a form that is accessible to practitioners and policy-makers as well as to an academic audience. The main focus is on the social sciences - economics, politics, international relations, sociology and anthropology, as well as development studies - but we also welcome articles that blend the natural and social sciences in addressing the challenges for development. The Journal does not represent any particular school, analytical technique or methodological approach, but aims to publish high quality contributions to ideas, frameworks, policy and practice, including in transitional countries and underdeveloped areas of the Global North as well as the Global South.