非洲机构在汇款与金融发展之间的吸收能力:预先面板回归

IF 1.3 Q3 ECONOMICS
James Temitope Dada, Emmanuel Olayemi Awoleye, Mamdouh Abdulaziz Saleh Al-Faryan, Mosab I. Tabash
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引用次数: 0

摘要

本研究旨在探讨非洲国家机构质量在汇款-金融关系中的吸收能力。研究使用了 2000 年至 2022 年期间 30 个非洲国家的平衡面板数据集。由于数据集的性质,本研究采用了增强均值组(AMG)、矩量回归法(MMQR)和两步系统广义矩量法(2SGMM)作为估计技术。研究结果直接效应的研究结果显示,汇款并不构成金融发展的增长,而制度质量在长期内促进了金融发展的增长。制度质量在联系中的调节作用表明,制度质量和汇款的交互项对该地区的金融发展有显著的积极影响。因此,制度质量可以调节汇款的影响。这些结果对不同的金融发展代用指标以及 MMQR 和 2SGMM 得出的估计值都是稳健的。因此,汇款应被视为可用于发展金融部门的工具之一,而不是家庭的生存机制。 原创性/价值 本研究通过揭示非洲国家机构质量在汇款与金融发展之间关系中的吸收能力,为相关文献做出了贡献,而现有研究却忽视了这一点。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The absorptive capacity of the institution in the link between remittances and financial development in Africa: an advance panel regression

Purpose

The purpose of this study is to examine institutional quality’s absorptive capacity in African countries’ remittances-finance nexus.

Design/methodology/approach

A balanced panel data set of thirty African countries between 2000 and 2022 is used for the study. The study adopts an augmented mean group (AMG), method of moment quantile regression (MMQR) and two-step system generalized method of moment (2SGMM) as the estimation techniques due to the nature of the data set.

Findings

The findings of the direct effect reveal that remittances do not constitute the growth of financial development, while institutional quality promotes the growth of financial development in the long. The moderating effect of institutional quality in the linkages shows that the interactive term of institutional quality and remittances has a significant positive effect on financial development in the region. Hence, institutional quality moderates the impact of remittances. These results are robust to different proxies of financial development and estimates obtained from MMQR and 2SGMM.

Practical implications

This study, therefore, suggests that institutional quality is essential in the linkages between remittances and financial development. Hence, remittances should be seen as one of the instruments that can be used to develop the financial sector rather than survival mechanisms for households.

Originality/value

This study contributes to the literature by unearthing the absorptive capacity of institutional quality in the nexus between remittances and financial development in African countries, which extant studies have neglected.

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来源期刊
CiteScore
2.80
自引率
8.30%
发文量
13
期刊介绍: The Journal of Financial Economic Policy publishes high quality peer reviewed research on financial economic policy issues. The journal is devoted to the advancement of the understanding of the entire spectrum of financial policy and control issues and their interactions to economic phenomena. Economic and financial phenomena involve complex trade-offs and linkages between various types of risk factors and variables of interest to policy makers and market participants alike. Market participants such as economic policy makers, regulators, banking and competition supervisors, corporations and financial institutions, require timely and robust answers to the contemporary and emerging policy questions. In turn, such answers require thorough input by the academics, policy makers and practitioners alike. The Journal of Financial Economic Policy provides the forum to satisfy this need. The journal publishes and invites concise papers to enable a prompt response to current and emerging policy affairs.
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