FINANCIAL INCLUSION, INSTITUTIONAL QUALITY AND FINANCIAL DEVELOPMENT: EMPIRICAL EVIDENCE FROM OIC COUNTRIES

被引：38
|
作者：
Ali, Minhaj [1 ]
Nazir, Muhammad Imran [2 ]
Hashmi, Shujahat Haider [3 ]
Ullah, Wajeeh [1 ]
机构：
[1] Zhongnan Univ Econ & Law, Sch Econ, Wuhan, Peoples R China
[2] Zhongnan Univ Econ & Law, Sch Finance, Wuhan, Peoples R China
[3] Huazhong Univ Sci & Technol, Sch Econ, Wuhan, Peoples R China
来源：
SINGAPORE ECONOMIC REVIEW | 2022年 / 67卷 / 01期
关键词：
Financial inclusion; institutional quality; financial development; GMM; 2SLS; OIC; ECONOMIC-GROWTH EVIDENCE; SECTOR DEVELOPMENT; POLITICAL-ECONOMY; PANEL-DATA; TRADE; OPENNESS; MARKETS; IMPACT; NEXUS; BANKS;
D O I：
10.1142/S0217590820420084
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This unique study examines the moderation effect of institutional quality (IQ) on the relationship between financial inclusion (FI) and financial development (FD) of 45 Organization of Islamic Cooperation (OIC) countries. For empirical analysis, panel data are used for the period 2000-2016. We use the Arellano-Bond generalized method of moments (GMM) and two-stage least-squares (2SLS) method in our estimations to draw multidimensional results. The empirical results confirm the significant positive relationship between FI, IQ and FD. Interestingly, we find that IQ moderates FI and has a significant positive impact on FD. Our findings are robust to alternative econometric specifications of FI, IQ and FD. Therefore, policymakers must sensibly understand the pivotal role of FI and IQ in establishing sustainable future development of OIC countries.
引用
收藏
页码：161 / 188
页数：28
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