Financial Innovation and Economic Growth: Empirical Evidence from China, India and Pakistan

Nazir, Muhammad Imran; Tan, Yong

doi:10.2139/ssrn.3166798

Cited by 8 publications

(5 citation statements)

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“…The study added that trade openness increases Indian financial development which is not documented for China and the institutions and governments might play major role for both countries in enlarging finance and growth. Nazir and Tan (2018) confirmed that financial innovation has a positive and significant effect on economic growth in the short-run and long-run. It was also revealed in the study that trade openness and gross capital formation plays a vital role in economic growth.…”

Section: Literature On China-indiamentioning

confidence: 66%

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2019

Asian Economic and Financial Review

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The aim of this study is to investigate the impact of Trade openness, Technological Innovation, and Economic growth on the Environmental deterioration of China and India over the period of 1974-2016. These two largest transitional and emerging countries of Asia have gained miraculous development in many sectors but at the cost of Environmental deterioration. We have applied the ARDL Bounds Test methodology and Toda-Yamamoto Granger Non-Causality test to determine the short-run and long-run relationships of the variables. The results of the study illustrate that Technological innovation has a significant positive impact and Economic growth has a strong 0adverse effect on the Environmental deterioration of China in the long-run. But it is not so strong in the short-run. In the case of India, Trade openness and Economic growth have a significant positive impact and Technological innovation has a strong negative effect on Environmental deterioration in the long-run. The selected macroeconomic explanatory variables have a significant impact on the Environmental deterioration of India in the short-run as well. The results of ARDL bounds test are also supported by Toda-Yamamoto Granger Non-Causality test. To compare China and India, Trade openness has a significant impact on the Environmental deterioration of India, but it is not factual for China. In addition, Technological innovation and Economic growth have an inverse relationship on the Environmental deterioration of both the Countries. The findings of this study have an important policy implication for China and India. Contribution/ Originality: The contributions of this study in the existing literature are: it has examined the impact of Trade, Technology, and growth on the Environmental deterioration of the two largest transitional and emerging economies of Asia: China and India. We have applied the ARDL Bounds method and Toda-Yamamoto Granger Non-Causality test and illustrated that Trade has a significant impact on the Environmental deterioration of India, but it is not factual for China. Technology and growth have an inverse relationship on the Environmental deterioration of both the Countries.

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Section: Literature On China-indiamentioning

confidence: 66%

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2019

Asian Economic and Financial Review

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“…Traditional financial innovation promotes economic growth by reducing transaction costs, promoting technological progress, improving innovation efficiency, and realizing resource allocation [11] . Evidence from China, India, and Pakistan also shows that financial innovation generally has a positive and statistically significant impact on economic growth in the short and long term [12] . Judging from the existing literature, financial innovation can theoretically promote economic growth to a certain extent under certain conditions.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Innovation, Technological Innovation and Economic Growth

WANG¹,

GUO²,

WANG³

et al. 2022

Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

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By selecting 31 provinces and cities in China as samples, we constructed a panel data model from 2011 to 2019, and empirically analysed the impact of financial innovation and technological innovation on economic growth through regression analysis of fixed effects models. The results show that financial innovation and technological innovation have a positive role in promoting economic growth, and the interaction of financial innovation and technological innovation has a greater contribution to economic growth. Making full use of foreign businessmen and maintaining the increase in natural population growth is also conducive to economic growth.

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“…Moreover, the lending model is applied during training that is targeted at imparting business skills in order to boost the likelihood of business success after obtaining loans and, as a result, better loan repayment behaviour (Njeru, 2003). Nazir, Tan and Nazir (2020), investigated the impact of lending model on SMEs' access Article's contents are provided on a Attribution-Non Commercial 4.0 Creative commons license. To see the complete license contents, please visit http://creativecommons.org/licenses/by-nc/4.0/ to finance in Tanzania.…”

Section: Introductionmentioning

confidence: 99%

The Contribution of Microlending Models to the growth of Micro and Small Entrepreneurs

Goda

Gomera²

2022

JBMR

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Microfinance has been providing microcredit services to beneficiaries through group, individual, association loans, community banking, and corporative microlending models. The sector has been fostering the growth of business in the economy by enabling entrepreneurs to participate in a variety of income-generating activities. However, there is limited information on the extent the microlending models contribute to the performance of micro and small enterprises. Therefore, the current research primarily intended to assess the contribution of Microfinance Bank's microlending models to the growth of micro and small entrepreneurs in Tanzania. This was a mixed approach study which adopted explanatory design and used convenience and purposive sampling techniques to obtain 179 respondents. Questionnaires, document review and interviews were used to collect both primary and secondary data. Statistical Packages for Social Science were used to quantitatively analyse field data using descriptive statistics (SPSS). MAXQDA10 was also used to conduct a content analysis of qualitative data. The findings of the study show that microlending models of microfinance banks contribute to the growth of micro and small entrepreneurs. It is thus recommended that microfinance banks should use appropriate lending model that is compatible with the nature of micro and small firms for growth and sustainable operations as they constitute the larger portion of lending clientele.

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Financial Innovation and Economic Growth: Empirical Evidence from China, India and Pakistan

Cited by 8 publications

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Financial Innovation, Technological Innovation and Economic Growth

The Contribution of Microlending Models to the growth of Micro and Small Entrepreneurs

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