西非经共体次区域的金融自由化和经济增长

Q3 Business, Management and Accounting

International Journal of Management and Enterprise Development Pub Date : 2023-03-14 DOI:10.20414/jed.v5i2.6944

Eghosa Lawson Igbinovia, I. Igbinovia

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引用次数: 0

摘要

目的-本研究探讨了西非经共体成员国金融自由化与经济增长之间的关系。方法:本研究采用纵向和纵向调查研究设计(expo-facto)。数据来源于世界银行和国际货币基金组织2012-2020年数据集，采用面板协整和系统GMM进行分析。结果-我们发现，金融自由化显著影响选定的西非经共体成员国的经济增长。同样，国内经济的开放程度对经济增长也有显著影响。金融发展对经济增长有正向影响，汇率和通货膨胀对经济增长有负向影响，利率对经济增长的影响为正但不显著。贡献-该研究为西非经共体成员国金融自由化与经济增长之间的经验联系提供了跨国证据。据作者所知，本研究是为数不多的关于跨国金融自由化与经济增长的研究之一，并使用了面板数据回归分析。通过这一点，研究涵盖了一个方法上的差距，使用一种技术，可以解释内生性和省略变量的问题。

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Financial liberalization and economic growth in the ECOWAS Sub-Region

Purpose — The study examines the nexus between financial liberalization and the economic growth of ECOWAS member states.Method — The longitudinal and latitudinal survey research design (expo-facto) is used in this study. Data are sourced from the World Bank and IMF Data Set for 2012-2020 and employed panel co-integration and system GMM for analyses.Result — We found that financial liberalization significantly impacts the economic growth of selected ECOWAS member countries. Similarly, the domestic economy's openness significantly impacts economic growth. While financial development exerts a positive impact, exchange rate and inflation negatively impact economic growth, the impact of interest rate is positive but insignificant.Contribution — The study provides cross-country evidence on the empirical nexus between financial liberalization and the economic growth from ECOWAS member states. To the best of authors’ knowledge, the study is one of the few studies on cross-country financial liberalization and the economic growth and used the panel data regression analysis. By this, the study covers a methodological gap, using a technique that can account for endogeneity and omitted variable problem.

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来源期刊

International Journal of Management and Enterprise Development Business, Management and Accounting-Business and International Management

CiteScore

1.80

自引率

0.00%

发文量

期刊介绍： IJMED is a major international research journal dedicated to business development strategy and entrepreneurship policy as well as management processes in an international and cross-cultural context. IJMED provides a venue for high quality papers including theoretical research articles, evidence-based case studies and practical applications seeking to explore best practice and investigate strategies for rapid growth management in SMEs. IJMED has a history of contributing to the academic literature, providing conceptual and practical insights and generating innovative ideas for organizational enterprise. Topics covered include: -SMEs'' start-up development, corporate venturing- Technological opportunities, new firm creation, valuation- Technological adoption, technology transfer, technopreneurship- Joint ventures/alliances, franchising and corporate ownership- Business incubator development strategy- Economic and social entrepreneurship- Virtual coaching services for SMEs- SMEs and entrepreneurship policy- Start-up cognitions/behaviours- Halo effect, technology licensing- Long-run technology investments- Knowledge management/technology strategy in SMEs- Managing rapid growth, accelerating competitive effectiveness- Strategy decision speed and SME performance- Entrepreneurs in non-profit sector.