金融发展和个人汇款对南非经济增长有影响吗?绑定测试调查

Business and Economic Horizons Pub Date : 2018-10-30 DOI:10.22004/ag.econ.287240

Odunayo Magret Olarewaju, G. W. Akinola, Verna Yearwood

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引用次数: 1

摘要

本研究利用1995Q01至2015Q04期间的季度数据，探讨了南非金融发展、汇款和经济增长之间的关系。本研究采用增广Dickey-Fuller (ADF)和Phillips-Perron (PP)技术进行单位根检验，发现变量在水平和初差上是平稳的。协整的自回归分布滞后(ARDL)约束检验方法的发现揭示了这些变量之间存在长期关系。此外，误差修正模型(ECM)表明，它需要36%的季度速度失调模型恢复平衡。本研究的结论是，金融发展部门应得到改善，以产生充分和充分的绩效，从而对长期GDP增长产生有效影响。应避免可能导致GDP增长长期下降的总资本形成的增加。政策制定者应该制定能够改善金融发展的政策，以增强国家经济，从而获得可以促进经济增长的汇款的潜在收益。

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Do financial development and personal remittances matter in South African economic growth? A bound testing investigation

This study explores the relationship amongst financial development, remittances and the economic growth of South Africa using quarterly data spanning the period 1995Q01 to 2015Q04. The study used Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) techniques for the unit root test and the variables were found to be stationary at level and at first difference. Findings from the Autoregressive Distributed Lag (ARDL) bound testing approach to co-integration revealed that a long-run relationship exists amongst these variables. Also, the Error Correction Model (ECM) showed that it required a 36% quarterly speed for maladjustment in the model to return equilibrium. This study concluded that the financial development sector should be improved to engender sufficient and adequate performance that would led to an effective impact of a long-run GDP growth. An increase in the gross capital formation that could lead to a long-run decrease in GDP growth should be avoided. Policy makers should formulate policies that could improve financial development in order to enhance the country’s economy to reap the potential gain of remittance which could enhance economic growth.

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Business and Economic Horizons ECONOMICS-

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期刊介绍： The Business and Economic Horizons (BEH) is an international peer-reviewed journal that publishes high quality theoretical, empirical, and review papers covering the broad spectrum of research in areas of economics, business, management, and finance. The journal aim is to bridge the gap between the theory and the observed data in these constantly developing domains. BEH Editorial Board welcomes the high-quality original research articles and review papers that verify the well-grounded and the emerging theories by employing the econometric, statistical methods or other relevant empirical methods in theoretical and applied economic analysis. BEH does not discriminate articles utilizing the non-mainstream approaches such as experimental research, institutional analysis, other variations of heterodox and developmental economic studies. Therefore, the submissions in any field of micro- and macroeconomics, business ethics, economic policy or finance are appropriate for this journal. We hope, the provided contributions will help to understand the contemporary challenges faced by the private and public sector and will establish an international forum of empirical research.