Financial Inclusion and Economic Growth: Evidence From Transition Economies of European Union

Bayar, Yılmaz; Gavriletea, Marius Dan

doi:10.18374/jife-18-2.9

Cited by 26 publications

(37 citation statements)

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“…Similar indicators and methodological credentials were also used by other authors focused on this topical subject, such as Bayar [11], Marino et al [38], Kwon and Kim [39], and Gil et al [44].…”

Section: Methodsmentioning

confidence: 99%

“…Bayar [11] examined the impact of the WGIs on economic growth in the EU's transition economies, for the 2002-2013 timespan. The results showed that all governance indicators, except for the quality of the regulations, had a statistically significant and positive impact on the economic growth.…”

Section: Public Governance and Sustainable Developmentmentioning

confidence: 99%

“…Consequently, there is an affluence of studies that have deepened the good governance dimensions in relation to economic development [10][11][12][13][14][15][16], using different methodology, but none of them have focused on the environmental protection impact at the same time.…”

Section: Introductionmentioning

confidence: 99%

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Promoting Good Public Governance and Environmental Support for Sustainable Economic Development

Noja

Cristea

Sîrghi

et al. 2019

IJERPH

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Good governance promotes the fundamental grounds of participation and democracy in contemporary public administration, whilst institution building and the (in)effectiveness of public administration is linked to economic growth. This synergy brings forth sheer implications on the sustainable economic development. On this composite setting, the paper examines several fundamental credentials of public administration in the European Union (EU) countries, in relation to economic development, but also poverty, research, and development support, as representative socio-economic credentials. The empirical analysis is based on data covering the 1995–2017 lapse of time, processed through three econometric procedures, namely robust regression, structural equation modeling, and Gaussian graphical models. The main results emphasize that there are significant joint implications of public administration on the considered socio-economic dimensions. General government spending and, particularly, the environmental support, have positive implications on the European Union economies, leading to significant increases in the Gross Domestic Product (GDP) per capita and downsize in poverty risk (more emphasized in regard to the government expenditures than the environmental protection). Overall, the quality of governance in EU countries requires an additional effort dedicated to leverage good public governance in order to support the long-term economic development.

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Section: Methodsmentioning

confidence: 99%

Section: Public Governance and Sustainable Developmentmentioning

confidence: 99%

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Promoting Good Public Governance and Environmental Support for Sustainable Economic Development

Noja

Cristea

Sîrghi

et al. 2019

IJERPH

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“…This study will depend on the previous explaining and follow the previous studies in order to estimate its model [4,5,14,7,15,36,34,27,33,20,40,6]. The regression model is:…”

Section: Methodsmentioning

confidence: 99%

“…They found that the most effective determinant of growth was political and institutional factors which have the prevailed effects on such growth in less advanced countries, while the parameters with more economic, hi-tech and specialized features strongly affect economic performance in advanced countries. Bayar also investigated the impact of six public governance indicators on the economic growth in the transitional economies of the European Union during the period 2002-2013 [5]. He found that all governance indicators except regulatory quality had a significant positive impact on economic growth; control of corruption and rule of law had the largest impact on economic growth, while political stability had the lowest impact.…”

Section: Literature Reviewmentioning

confidence: 99%

The Economic and Non-Economic Determinants of Economic Growth in Oil-Exporting Arab Countries

Yousef¹,

Warrad²

2019

IJBER

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This paper aims at exploring the main determinants of economic growth in Oil-Exporting Arab countries (OEAC) by shedding light on the most effective determinants. It is then wished that governments and policy makers would concentrate on and take them into consideration when they are designing and applying their public policies. The study used panel data for six OEAC over the period of 1998-2017. Some study variables were not stationary at level but they became stationary after taking the first difference for them. The result of applying panel Pedroni cointegration test revealed that the model was cointegrated. Therefore, FMOLS model was applied for estimation showing that gross fixed capital formation, labor force growth rate, economic freedom, rule of law, regulatory quality and government effectiveness have statistically significant positive impact on the economic growth of OEAC, while trade openness, control of corruption, political stability and voice and accountability have insignificant effects on their economic growth during the study period. Moreover, the Global Financial Crisis of 2008 with its slow recovery has a significant negative impact on the economic growth of such countries. Therefore, the study recommends OEACs' governments to make "real" institutional reforms and adopt the appropriate polices that eliminate corruption and rent seeking behaviour and enhance the rule of law. They also need to improve the quality of education and to develop the skills and expertise of their labour force. In addition, they have to establish specialization in the production of goods in which they have comparative advantages and diversify their production and sources of national income, and not to depend only on exporting natural raw materials, which altogether eventually ensure resources are efficiently and effectively utilized in pursuit of their economic growth and social development.

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Institutional quality and economic growth: Evidence from South‐Asian countries

Mehmood

Din

Aman‐Ullah

et al. 2022

Journal of Public Affairs

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The current study investigates the relationship between institutional quality and economic growth, focusing on South‐Asian countries entailing Bangladesh, Bhutan, India, Nepal, Pakistan, and Sri Lanka, from 2002 to 2018. The data are analysed using the dynamic heterogeneous panel (panel autoregressive distributed lag [ARDL] model) approach, specifically the dynamic fixed effect (DFE), mean group (MG), and pooled mean group (PMG). Based on the findings, the three governance indicators, namely corruption control, accountability, and the rule of law, positively and significantly affect economic growth. All the nations have consistent long‐run estimates but varied short‐run estimates and adjustment speed for the long‐term equilibrium. This is due to governance volatility that is evident in all the nations. This article offers both practical and theoretical contributions. This article contributes to the institutional quality and economic growth literature from a theoretical perspective from the South‐Asian perspective. From a practical perspective, the study findings are significant for policymakers, particularly those from the countries that demonstrate major fiscal and external imbalance due to war and terrorism, low oil prices and weak trade. Hence, there is a pressing need to address economic growth issues instigated by the policymakers' negligence to ensure appropriate governance and macroeconomic management. Regulators can improve economic growth through national and regional image building by developing a stable economic and political landscape and maintaining macroeconomic stability by improving the institutional quality indicators. There is evidence that institutional quality improvement leads to better economic growth.

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Financial Inclusion and Economic Growth: Evidence From Transition Economies of European Union

Cited by 26 publications

References 0 publications

Promoting Good Public Governance and Environmental Support for Sustainable Economic Development

Promoting Good Public Governance and Environmental Support for Sustainable Economic Development

The Economic and Non-Economic Determinants of Economic Growth in Oil-Exporting Arab Countries

Institutional quality and economic growth: Evidence from South‐Asian countries

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