文章基本信息

标题：The Dynamics of Financial Development, Government Quality, and Economic Growth in Different Groups of Economies
本地全文：下载
作者：Shahid Iqbal ; Abdul Qayyum Khan ; Muhammad Yar Khan 等
期刊名称：Sustainability
印刷版ISSN：2071-1050
出版年度：2021
卷号：13
期号：14
页码：7573
DOI：10.3390/su13147573
语种：English
出版社：MDPI, Open Access Journal
摘要：This study examines the causal relationship between economic growth, financial development, and national governance. To analyze the three-way link of the stated variables, the Panel Vector Auto-Regressive (PVAR) model was applied to 115 economies between 1996 to 2018. The impact of each variable shock is explored through Impulse Response Function (IRF) and variance decomposition. The results indicate that the financial development and national governance shocks have a more persistent impact on economic growth in low-income economies than emerging and developed economies. In contrast, output shock influences long-term financial development in developed economies and affects national governance in a monotonic fashion in all three sets of economies. Moreover, national governance is explored as a critical factor for economic growth especially in low-income economies.