Does Financial Development Promote Economic Globalization? Evidence from the Top and the Bottom Globalized Emerging Economies

被引：8
|
作者：
Zhang, Jing [1 ]
Pal, Shreya [2 ]
Mahalik, Mantu Kumar [2 ]
Gozgor, Giray [3 ,4 ,5 ]
机构：
[1] Southwest Jiaotong Univ, Sch Econ & Management, Chengdu, Jiaotong, Peoples R China
[2] Indian Inst Technol Kharagpur, Dept Humanities & Social Sci, Kharagpur, W Bengal, India
[3] Univ Bradford, Sch Management, Bradford, W Yorkshire, England
[4] Istanbul Medeniyet Univ, Fac Polit Sci, Istanbul, Turkey
[5] Lebanese Amer Univ, Adnan Kassar Sch Business, Beirut, Lebanon
来源：
EMERGING MARKETS FINANCE AND TRADE | 2023年 / 59卷 / 13期
关键词：
Emerging economies; financial development; economic globalization; panel ARDL model; panel FMOLS estimations; GROWTH; COINTEGRATION; DETERMINANTS; INEQUALITY; DEPENDENCE;
D O I：
10.1080/1540496X.2022.2135372
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the role of financial development in economic globalization using balanced panel data from 1984 to 2016. The empirical analysis considers Europe and Central Asia (ECA) and South Asia (SA) as the top and the bottom globalized emerging economies, respectively. Financial development promotes economic globalization in the top globalized developing regions in the long run. The growth in financial institutions also improves economic globalization in the ECA. The opposite finding is reported in the SA economies. The findings suggest that 'financial development-led economic globalization should not be overlooked by the policymakers of the top globalized developing regions.
引用
收藏
页码：3915 / 3927
页数：13
相关论文
共 50 条
  • [41] Does renewable energy promote green economic growth in emerging market economies?
    Chhabra, Megha
    Agarwal, Mansi
    Giri, Arun Kumar
    [J]. INTERNATIONAL JOURNAL OF ENERGY SECTOR MANAGEMENT, 2024,
  • [42] Financial development and economic growth New evidence from a sample of island economies
    Seetanah, Boopen
    Ramessur, Shalini T.
    Rojid, Sawkut
    [J]. JOURNAL OF ECONOMIC STUDIES, 2009, 36 (02) : 124 - +
  • [43] Does economic uncertainty affect the soundness of banks? Evidence from emerging Asian economies
    Wu, Ji
    Yao, Yao
    Chen, Minghua
    Jeon, Bang Nam
    [J]. JOURNAL OF ASIAN ECONOMICS, 2021, 77
  • [44] Economic Globalization and Financial Development: Empirical Evidence from India and Sri Lanka
    Behera, Chinmaya
    [J]. JOURNAL OF ASIAN FINANCE ECONOMICS AND BUSINESS, 2021, 8 (05): : 11 - 19
  • [45] The Impact of Financial Development on Economic Growth: Empirical Evidence from Transitional Economies
    Nguyen, Phuc Tran
    Pham, Trinh Tuyet Thi
    [J]. JOURNAL OF ASIAN FINANCE ECONOMICS AND BUSINESS, 2021, 8 (11): : 191 - 201
  • [46] Globalization and currency crises in emerging Asian economies: Implications on economic reform and development
    Aybar, CB
    Bear, M
    Milman, C
    [J]. GLOBALIZATION, THE MULTINATIONAL FIRM, AND EMERGING ECONOMIES, 2000, 10 : 111 - 130
  • [47] Does renewable energy adaptation, globalization, and financial development matter for environmental quality and economic progress? Evidence from panel of big five (B5) economies
    Xu, Li
    Wang, Xiuli
    Guo, Wen
    [J]. RENEWABLE ENERGY, 2022, 192 : 631 - 640
  • [48] Bank competition, financial development and macroeconomic stability: Empirical evidence from emerging economies
    Khan, Habib Hussain
    [J]. ECONOMIC SYSTEMS, 2022, 46 (04)
  • [49] The effects of national culture on financial sector development: Evidence from emerging and developing economies
    Khan, Muhammad Atif
    Gu, Lulu
    Khan, Muhammad Asif
    Meyer, Natanya
    [J]. BORSA ISTANBUL REVIEW, 2022, 22 (01) : 103 - 112
  • [50] Does renewable energy promote economic growth? Fresh evidence from South Asian economies
    Ahmad, Waheed
    Majeed, Muhammad Tariq
    [J]. JOURNAL OF PUBLIC AFFAIRS, 2022, 22 (04)
12345