Central Bank Independence and Democracy: Does Transparency Matter?

Fayed, Mona Esam; Ezzat, Asmaa

doi:10.5709/ce.1897-9254.334

Cited by 3 publications

(1 citation statement)

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“…Meanwhile, for the robustness test, the Breusch and Pagan Lagrangian Multiplier (BPLM) test was applied in order to deter-mine the appropriate estimation model to be used -either POLS or panel Generalized Least Square (GLS). In addition, a subsequent test, the Hausman test, was conducted to select the most appropriate estimation method, either a fixed effect model (FEM) or a random effect model (REM), in the case that the panel GLS model was indicated by the previous test (Al-Mamoorey & Al-Rubaye, 2020;Delawi & Ramo, 2020;Fayed & Ezzat, 2020;Gomez-Piqueras et al, 2020;Gumus et al, 2020;Hussain et al, 2020a;Hussain et al, 2020b;Hussain et al, 2019;Mohsin et al, 2020;Sell, 2020;Villena-Serrano et al, 2020). Therefore, by setting the financial and social efficiency scores as the dependent variables, the baseline regression model can be estimated as below:…”

Section: Multiple Regression Analysismentioning

confidence: 99%

Unboxing the black box on the dimensions of social globalisation and the efficiency of microfinance institutions in Asia

Hussain

Szczepańska-Woszczyna

Kamarudin

et al. 2021

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Research background: Microfinance institutions (MFIs) play an important role in alleviating poverty. Thus, MFIs should be efficient in order to ensure that their objectives on social welfare and financial performance can be achieved by identifying the potential determinants, specifically on social globalisation. Purpose of the article: This paper examines the impacts of the social globalisation dimensions of interpersonal, informational, and cultural globalisations on the financial and social efficiency of MFIs. Methods: The data period covered the years 2011?2018; the data set consists of 176 MFIs from six Asian countries. The Data Envelopment Analysis (DEA) approach was employed to examine the MFIs? efficiency levels. Generalised Least Square (GLS) regressions were used to analyse the impacts of social globalisation and other determinants towards the efficiency of MFIs. Findings and value added: Interpersonal globalisation had a significantly negative correlation with social efficiency, suggesting that increasing the number of foreigners in management intrudes on local managers? decisions. Informational globalisation had a significantly positive correlation with financial and social efficiency, which signifies that more information produces monopolistic profits in this industry. Finally, cultural globalisation had a positive correlation with social efficiency, demonstrating that a global trading culture improves the abilities and technological skills for labour development and enhances MFIs? social efficiency. In general, the Cobb Douglas Production theory explained the understanding of the impacts social globalisation has on MFI efficiency. Furthermore, the findings from this study could provide important scientific, practical gap and contribute new insights and implications to various parties. Firstly, governments or policymakers can establish effective national policies and strategies. Secondly, this study could support investors in monitoring and understanding the performance of MFIs. Finally, the research could fill scholarly gaps and uncover more potential factors that influence the efficiency of MFIs.

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Section: Multiple Regression Analysismentioning

confidence: 99%

Unboxing the black box on the dimensions of social globalisation and the efficiency of microfinance institutions in Asia

Hussain

Szczepańska-Woszczyna

Kamarudin

et al. 2021

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The impact of environmental, social, and governance, board diversity and firm size on the sustainable development goals of registered firm in China

Fei

Fang

Zhao

et al. 2022

Economic Research-Ekonomska Istraživanja

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Central Bank Independence: Where Do We Stand?

Vašíček¹,

Uhrova²,

Janickova³

et al. 2023

Economies

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Central bank independence (CBI) has long been considered a key aspect of effective monetary policy, as it allows central banks to make decisions free from political interference. However, the global financial crisis of 2007–2008 and recent events such as the COVID-19 pandemic and armed conflict in Ukraine have threatened CBI. This article aims to examine the impact of these events on CBI in OECD member countries, both on a de jure and de facto level, using a variety of indicators. The results suggest that CBI has largely remained unchanged in most countries, but there is disturbing evidence of political interference in CBI in the Republic of Türkiye.

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Central Bank Independence and Democracy: Does Transparency Matter?

Cited by 3 publications

References 0 publications

Unboxing the black box on the dimensions of social globalisation and the efficiency of microfinance institutions in Asia

Unboxing the black box on the dimensions of social globalisation and the efficiency of microfinance institutions in Asia

The impact of environmental, social, and governance, board diversity and firm size on the sustainable development goals of registered firm in China

Central Bank Independence: Where Do We Stand?

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