Financial development and innovation: Do institutions and human capital matter?

Atsu, Francis; Adams, Samuel

doi:10.1016/j.heliyon.2023.e19015

Cited by 4 publications

(2 citation statements)

References 66 publications

(109 reference statements)

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“…Scholars generally use the Theil index to measure the level of industrial rationalization. Thiel index takes into account the relative weights of different types of industries, and the measurement result is more accurate than the industrial structure deviation [60]. In this paper, we refer to the study of Bickenbach et al (2019) [61] and use the Theil index (TL) to measure the level of industrial structure rationalization, as in Equation (4).…”

Section: Mediating Variablementioning

confidence: 99%

How Can Financial Innovation Curb Carbon Emissions in China? Exploring the Mediating Role of Industrial Structure Upgrading from a Spatial Perspective

An,

2024

Sustainability

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Within the sustainability framework, technological innovation’s impact is acknowledged. However, the environmental implications of institutional innovation, a crucial component of the innovation system, remain unclear, necessitating further research. This paper focuses on financial innovation as a representative of institutional innovation, exploring its relationship with carbon emissions. Utilizing panel data from 30 Chinese provinces spanning 2011 to 2022, we establish a spatial Durbin model and a mediating effects model to delve into the intricate relationships among financial innovation, industrial structure upgrading, and carbon emissions. Our findings reveal that: (1) Financial innovation significantly contributes to the upgrading of industrial structures both locally and in neighboring regions; (2) Both financial innovation and industrial structure upgrading effectively mitigate carbon emissions, with the latter playing a mediating role; (3) All three studied factors exhibit spatial clustering effects; (4) The suppressive effect of financial innovation on carbon emissions exhibits a notable spatial spillover. Compared to recent studies, this work innovatively explores the mediating impact mechanism of financial innovation suppressing carbon emissions, particularly demonstrating the spatial spillover characteristics of the mediating effect among the three variables. As China is a major carbon emitter and emerging economy, these insights offer valuable insights for global carbon governance.

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Section: Mediating Variablementioning

confidence: 99%

How Can Financial Innovation Curb Carbon Emissions in China? Exploring the Mediating Role of Industrial Structure Upgrading from a Spatial Perspective

An,

2024

Sustainability

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“…In their research, Atsu and Adams (2023) investigate the dynamic relationship between financial development and innovation, while also considering factors such as human capital and institutional quality for 29 OECD member countries over a period of 40 years, from 1980 to 2019. The results, based on estimations using the Generalized Method of Moments (GMM) and the Fully Modified Ordinary Least Squares (FMOLS) methods, show that trade, institutional quality, human capital, and financial development have a positive impact on innovation activities.…”

Section: The Stage Of Knowledge In the Fieldmentioning

confidence: 99%

Toward Sustainable Development: Assessing the Effects of Financial Contagion on Human Well-Being in Romania

Nica,

Georgescu,

Delcea

et al. 2023

Risks

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In a globally interconnected economy marked by volatility, this study employs the Autoregressive Distributed Lag (ARDL) model to examine financial contagion’s impact on Romania’s financial stability. It investigates both conventional and unconventional channels through which financial contagion is transmitted, emphasizing its sensitivity to factors such as geopolitical events and investor sentiment. The study also assesses the influence of unemployment, market capitalization, and financial freedom on Romania’s Human Development Index (HDI) from 2000 to 2022. Using HDI, which encompasses health and education alongside economic aspects, the research provides a holistic view of well-being and quality of life. In addition to the ARDL model’s insights, this study expands its scope by conducting a multilinear regression analysis, with GDP as the dependent variable. We have incorporated independent variables such as HDI, transaction volume, and the BET-FI index to comprehensively assess their relationships and potential impact on Romania’s economic growth. This analytical approach unveils intricate connections between key economic and financial indicators, paving the way for a deeper understanding of how these variables interact. Furthermore, to shed light on the financial dynamics within Romania, a supplementary analysis in the Altreva Adaptive Modeler was undertaken, focusing on the BET-FI index. This software-based exploration provides a nuanced perspective on the index’s behavior and its interactions with other economic and social indicators. This additional dimension contributes to our holistic understanding of the effects of financial contagion and the implications for sustainable human development in Romania. By combining traditional econometric methodologies with cutting-edge modeling techniques, this study strives to offer a robust framework for comprehending the multifaceted nature of financial contagion and its implications for both the national economy and well-being. These findings have the potential to guide policymakers and financial institutions in implementing more effective risk management strategies, driving economic development, and ultimately enhancing the overall quality of life in Romania.

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Does Factor Market Distortion Inhibit Enterprise Innovation? Empirical Evidence from Chinese Industrial Enterprises

Wang,

Wang

2023

J Knowl Econ

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Financial development and innovation: Do institutions and human capital matter?

Cited by 4 publications

References 66 publications

How Can Financial Innovation Curb Carbon Emissions in China? Exploring the Mediating Role of Industrial Structure Upgrading from a Spatial Perspective

How Can Financial Innovation Curb Carbon Emissions in China? Exploring the Mediating Role of Industrial Structure Upgrading from a Spatial Perspective

Toward Sustainable Development: Assessing the Effects of Financial Contagion on Human Well-Being in Romania

Does Factor Market Distortion Inhibit Enterprise Innovation? Empirical Evidence from Chinese Industrial Enterprises

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