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Is Finance-Growth Nexus Linear in Selected Countries of Middle East and Northern Africa?
Daouia Chebab,Nur Syazwani Mazlan,Wan Azman Saini Wan Ngah,Lee Chin 세종대학교 경제통합연구소 2020 Journal of Economic Integration Vol.35 No.2
The present study re-examines the impact of financial development on economic growth in resource-rich Middle East and North Africa (MENA) countries over 1987-2015. Although several studies investigate the finance-growth nexus, none emphasized the nature of this relationship in MENA. In the long run, an inverted U-shaped association between finance and growth is indicated when using pooled mean group estimations. However, the relationship is not significant in the short run. The outcomes suggest that financial development is significantly and positively affiliated with economic growth up to a certain level. After this turning point, additional financial development tends to adversely affect economic growth. The existence of an inverse U-shape association between financial development and economic growth was confirmed by the estimation of the U-test. The outcomes of our study are important to policymakers, in terms of optimizing the necessary and limit of financial development to ensure maximum benefit for the whole economy through the banking sector.
Abubakar Abdullahi,Saifuzzaman Ibrahim,Law Siong Hook,Wan Azman Saini Wan Ngah 세종대학교 경제통합연구소 2023 Journal of Economic Integration Vol.38 No.4
This paper investigated the impact of financial integration on economic development using the dynamic panel quantile estimator on a sample of 95 countries from 2004-2019. The results showed that the impact of financial integration on economic development varied across income levels. This study found that financial integration impacted economic development negatively in middle and high-income countries. However, financial integration did not significantly affect economic development in low-income countries.
The Role of Financial Development in Reducing Income Inequality in Selected Asian Countries
Yujue Wang,Nur Syazwani Mazlan,Wan Azman Saini Wan Ngah,Muhammad Faheem 세종대학교 경제통합연구소 2024 Journal of Economic Integration Vol.39 No.3
The present study investigated the effects of financial development on income inequality for three income level groups across 12 Asian countries (areas) from 1980-2020. The three groups comprised countries with low, moderate, and high economic development. Using the Quantile-on-Quantile (QQ) approach, The findings showed that the impact of financial development on income inequality differed across the income level groups of the 12 selected Asian countries. The results suggested that financial development exacerbated income inequality in underdeveloped countries, while for moderately developed countries, financial development promoted income equality. Except for South Korea, the other countries in the high economic development group showed that financial development exacerbated income inequality. Therefore, the impact of financial development on income should be examined by groups, in which moderately-developed countries could devote more attention to promoting income equality through reforms focusing on the development of financial diversification and the enhancement of financial depth.