文章基本信息

标题：Institutional governance and financial sector development: Panel evidence from Asian economies
本地全文：下载
作者：Nazima Ellahi ; Adiqa Kiani ; Qaisar Malik 等
期刊名称：Cogent Economics & Finance
电子版ISSN：2332-2039
出版年度：2021
卷号：9
期号：1
页码：1890367
DOI：10.1080/23322039.2021.1890367
出版社：Taylor and Francis Ltd
摘要：Current study aims to investigate the impact of institutional governance (GOV), trade openness (TOPEN), real output (RGDP), economic freedom (EFR), inflation rate (INFR) and real output growth on financial sector development (FSD) of selected Asian economies. A consolidated financial sector development index, representing banking sector and stock market is generated using Principal Component Analysis (PCA). The study conducted data analysis by applying panel estimation method of Generalized Method of Moments (GMM), and showed that trade openness, and real output moderate the financial development (FSD) through its positive interaction with institutional governance (GOV). The findings highlight that governance is an important and crucial driver of financial sector development and stock market development in four selected Asian economies.
关键词：Institutional governance ; economic freedom ; generalized method of moments & financial development