Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL
Author
Abstract
Suggested Citation
DOI: 10.1186/s43093-021-00085-6
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Mita Bhattacharya & John Inekwe & Sudharshan Reddy Paramati, 2018. "Remittances and financial development: empirical evidence from heterogeneous panel of countries," Applied Economics, Taylor & Francis Journals, vol. 50(38), pages 4099-4112, August.
- Simplice Asongu & Uduak S. Akpan & Salisu R. Isihak, 2018.
"Determinants of foreign direct investment in fast-growing economies: evidence from the BRICS and MINT countries,"
Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 4(1), pages 1-17, December.
- Simplice A. Asongu & Uduak S. Akpan & Salisu R. Isihak, 2018. "Determinants of Foreign Direct Investment in Fast-Growing Economies: Evidence from the BRICS and MINT Countries," Research Africa Network Working Papers 18/038, Research Africa Network (RAN).
- Simplice Asongu & Uduak S. Akpan & Salisu R. Isihak, 2018. "Determinants of Foreign Direct Investment in Fast-Growing Economies: Evidence from the BRICS and MINT Countries," Working Papers of the African Governance and Development Institute. 18/038, African Governance and Development Institute..
- Simplice A. Asongu & Uduak S. Akpan & Salisu R. Isihak, 2018. "Determinants of Foreign Direct Investment in Fast-Growing Economies: Evidence from the BRICS and MINT Countries," AFEA Working Papers 18/032, African Finance and Economic Association (AFEA).
- Asongu, Simplice & Akpan, Uduak & Isihak, Salisu, 2018. "Determinants of Foreign Direct Investment in Fast-Growing Economies: Evidence from the BRICS and MINT Countries," MPRA Paper 91529, University Library of Munich, Germany.
- Sebil O Oshota & Abdulazeez A Badejo, 2015. "Impact of Remittances on Economic Growth in Nigeria: Further Evidence," Economics Bulletin, AccessEcon, vol. 35(1), pages 247-258.
- Coulibaly, Dramane, 2015.
"Remittances and financial development in Sub-Saharan African countries: A system approach,"
Economic Modelling, Elsevier, vol. 45(C), pages 249-258.
- Dramane Coulibaly, 2015. "Remittances and financial development in Sub-Saharan African countries: A system approach," Post-Print hal-01385958, HAL.
- M. Hashem Pesaran & Yongcheol Shin, 2002.
"Long-Run Structural Modelling,"
Econometric Reviews, Taylor & Francis Journals, vol. 21(1), pages 49-87.
- Pesaran,H.M. & Shin,Y., 1995. "Long-Run Structural Modelling," Cambridge Working Papers in Economics 9419, Faculty of Economics, University of Cambridge.
- Mohammad Hashem Pesaran & Yongcheol Shin, 1999. "Long-Run Structural Modelling," Edinburgh School of Economics Discussion Paper Series 44, Edinburgh School of Economics, University of Edinburgh.
- Ben Jedidia, Khoutem & Boujelbène, Thouraya & Helali, Kamel, 2014. "Financial development and economic growth: New evidence from Tunisia," Journal of Policy Modeling, Elsevier, vol. 36(5), pages 883-898.
- Lim, Sokchea & Simmons, Walter O., 2015. "Do remittances promote economic growth in the Caribbean Community and Common Market?," Journal of Economics and Business, Elsevier, vol. 77(C), pages 42-59.
- Kevin Williams, 2016. "Remittances and Financial Development: Evidence from Sub-Saharan Africa," African Development Review, African Development Bank, vol. 28(3), pages 357-367, September.
- Giuliano, Paola & Ruiz-Arranz, Marta, 2009.
"Remittances, financial development, and growth,"
Journal of Development Economics, Elsevier, vol. 90(1), pages 144-152, September.
- Marta Ruiz-Arranz & Ms. Paola Giuliano, 2005. "Remittances, Financial Development, and Growth," IMF Working Papers 2005/234, International Monetary Fund.
- Giuliano, Paola & Ruiz-Arranz, Marta, 2006. "Remittances, Financial Development, and Growth," IZA Discussion Papers 2160, Institute of Labor Economics (IZA).
- Peprah, James Atta & Ofori, Isaac Kwesi & Asomani, Abel Nyarko, 2019.
"Financial development, remittances and economic growth: A threshold analysis,"
EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 7(1).
- James Atta Peprah & Isaac Kwesi Ofori & Abel Nyarko Asomani, 2019. "Financial development, remittances and economic growth: A threshold analysis," Cogent Economics & Finance, Taylor & Francis Journals, vol. 7(1), pages 1625107-162, January.
- Peprah, James Atta & Ofori, Isaac Kwesi & Nyarko-Asomani, Abel, 2019. "Financial development, remittances and economic growth: A threshold analysis," MPRA Paper 99858, University Library of Munich, Germany.
- Adams, Samuel & Klobodu, Edem Kwame Mensah, 2016. "Remittances, regime durability and economic growth in Sub-Saharan Africa (SSA)," Economic Analysis and Policy, Elsevier, vol. 50(C), pages 1-8.
- Edward F. Blackburne III & Mark W. Frank, 2007. "Estimation of nonstationary heterogeneous panels," Stata Journal, StataCorp LP, vol. 7(2), pages 197-208, June.
- Fromentin, Vincent, 2017. "The long-run and short-run impacts of remittances on financial development in developing countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 66(C), pages 192-201.
- Herwartz, Helmut & Walle, Yabibal M., 2014.
"Determinants of the link between financial and economic development: Evidence from a functional coefficient model,"
Economic Modelling, Elsevier, vol. 37(C), pages 417-427.
- Herwartz, Helmut & Walle, Yabibal M., 2013. "State dependence in the finance-growth nexus: A functional coefficient approach," University of Göttingen Working Papers in Economics 156, University of Goettingen, Department of Economics.
- Pesaran, M. Hashem & Smith, Ron, 1995.
"Estimating long-run relationships from dynamic heterogeneous panels,"
Journal of Econometrics, Elsevier, vol. 68(1), pages 79-113, July.
- Pesaran, M.H. & Smith, R., 1992. "Estimating Long-Run Relationships From Dynamic Heterogeneous Panels," Cambridge Working Papers in Economics 9215, Faculty of Economics, University of Cambridge.
- Samargandi, Nahla & Fidrmuc, Jan & Ghosh, Sugata, 2015.
"Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries,"
World Development, Elsevier, vol. 68(C), pages 66-81.
- Nahla Samargandi & Jan Fidrmuc & Sugata Ghosh, 2014. "Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries," CESifo Working Paper Series 4743, CESifo.
- Kristina Matuzeviciute & Mindaugas Butkus, 2016. "Remittances, Development Level, and Long-Run Economic Growth," Economies, MDPI, vol. 4(4), pages 1-20, December.
- Ralph Chami & Connel Fullenkamp & Samir Jahjah, 2005.
"Are Immigrant Remittance Flows a Source of Capital for Development?,"
IMF Staff Papers, Palgrave Macmillan, vol. 52(1), pages 55-81, April.
- Mr. Samir Jahjah & Mr. Ralph Chami & Connel Fullenkamp, 2003. "Are Immigrant Remittance Flows a Source of Capital for Development?," IMF Working Papers 2003/189, International Monetary Fund.
- Zhang, Jin & Wang, Lanfang & Wang, Susheng, 2012. "Financial development and economic growth: Recent evidence from China," Journal of Comparative Economics, Elsevier, vol. 40(3), pages 393-412.
- Jagadish Prasad Bist, 2018. "Financial development and economic growth: Evidence from a panel of 16 African and non-African low-income countries," Cogent Economics & Finance, Taylor & Francis Journals, vol. 6(1), pages 1449780-144, January.
- Kalandi Charan PRADHAN, 2016. "Does remittance drive economic growth in emerging economies: Evidence from FMOLS and Panel VECM," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(609), W), pages 57-74, Winter.
- Asli Demeirgüç-Kunt & Ross Levine (ed.), 0. "Finance and Growth," Books, Edward Elgar Publishing, number 17119, March.
- Bang, James T. & Mitra, Aniruddha & Wunnava, Phanindra V., 2016. "Do remittances improve income inequality? An instrumental variable quantile analysis of the Kenyan case," Economic Modelling, Elsevier, vol. 58(C), pages 394-402.
- Uddin, Gazi Salah & Sjö, Bo & Shahbaz, Muhammad, 2013.
"The causal nexus between financial development and economic growth in Kenya,"
Economic Modelling, Elsevier, vol. 35(C), pages 701-707.
- Uddin, Gazi Salah & Sjö, Bo & Shahbaz, Muhammad, 2013. "The Causal Nexus between Financial Development and Economic Growth in Kenya," MPRA Paper 49262, University Library of Munich, Germany, revised 23 Aug 2013.
- Kalandi Charan PRADHAN, 2016. "Does remittance drive economic growth in emerging economies: Evidence from FMOLS and Panel VECM," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(4(609), W), pages 57-74, Winter.
- Antonio N. Bojanic, 2012.
"The Impact of Financial Development and Trade on the Economic Growth of Bolivia,"
Journal of Applied Economics, Taylor & Francis Journals, vol. 15(1), pages 51-70, May.
- Antonio N. Bojanic, 2012. "The impact of financial development and trade on the economic growth of Bolivia," Journal of Applied Economics, Universidad del CEMA, vol. 15, pages 51-70, May.
- Murshed Chowdhury, 2016. "Financial Development, Remittances and Economic Growth: Evidence Using a Dynamic Panel Estimation," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 10(1), pages 35-54, February.
- Sobiech, Izabela, 2019. "Remittances, finance and growth: Does financial development foster the impact of remittances on economic growth?," World Development, Elsevier, vol. 113(C), pages 44-59.
- Christopoulos, Dimitris K. & Tsionas, Efthymios G., 2004. "Financial development and economic growth: evidence from panel unit root and cointegration tests," Journal of Development Economics, Elsevier, vol. 73(1), pages 55-74, February.
- Muhammad Azam, 2015. "The role of migrant workers remittances in fostering economic growth," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 42(8), pages 690-705, August.
- Kuckulenz, Anja & Buch, Claudia M., 2004. "Worker Remittances and Capital Flows to Developing Countries," ZEW Discussion Papers 04-31, ZEW - Leibniz Centre for European Economic Research.
- Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000.
"Finance and the sources of growth,"
Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300.
- Beck,Thorsten & Levine,Ross Eric & Loayza,Norman V., 1999. "Finance and the sources of growth," Policy Research Working Paper Series 2057, The World Bank.
- Aggarwal, Reena & Demirgüç-Kunt, Asli & Pería, Maria Soledad Martínez, 2011. "Do remittances promote financial development?," Journal of Development Economics, Elsevier, vol. 96(2), pages 255-264, November.
- Nyamongo, Esman Morekwa & Misati, Roseline N. & Kipyegon, Leonard & Ndirangu, Lydia, 2012. "Remittances, financial development and economic growth in Africa," Journal of Economics and Business, Elsevier, vol. 64(3), pages 240-260.
- Nahed Zghidi & Imen Mohamed Sghaier & Zouheir Abida, 2018. "Remittances, Institutions, and Economic Growth in North African Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(3), pages 804-821, September.
- Rudra P. Pradhan & Mak B. Arvin & John H. Hall & Mahendhiran Nair, 2016. "Innovation, financial development and economic growth in Eurozone countries," Applied Economics Letters, Taylor & Francis Journals, vol. 23(16), pages 1141-1144, November.
- Vincent Fromentin, 2017. "The long-run and short-run impacts of remittances on financial development in developing countries," Post-Print halshs-02152600, HAL.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Abdallah Abdul-Mumuni & John Kwaku Amoh & Abubakar Musah, 2024. "Asymmetric Nexus Between Industrial Production and Carbon Emissions: Empirics from Sub-Saharan Africa," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 16(3), pages 392-410, September.
- ATOI, VICTOR NGOZI (PhD), 2023. "Assessing the Drivers of Steady State Economic Growth in Nigeria," MPRA Paper 119386, University Library of Munich, Germany.
- Al Amin Biswas & A. H. M. Shahriar & Mohammad Jahangir Alam & Ruhul Kuddus & Uttam Golder & Mita Rani Paul, 2023. "Rethinking FDI Policy in Bangladesh: An Asymmetric Approach to Globalization, Population, and Trade," International Journal of Economics and Financial Issues, Econjournals, vol. 13(6), pages 168-176, November.
- Xue, Pengcheng & Liu, Hanzhen & Zhao, Delong & Liu, Jiaxin, 2024. "Mineral resources and equitable economic development: South Asian mineral resources policy perspective with innovation for resources efficiency," Resources Policy, Elsevier, vol. 96(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Shreya Pal, 2023. "Does Remittance and Human Capital Formation Affect Financial Development? A Comparative Analysis Between India and China," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 30(2), pages 387-426, June.
- Jagadish Prasad Bist & Nar Bahadur Bista, 2018. "Finance–Growth Nexus in Nepal: An Application of the ARDL Approach in the Presence of Structural Breaks," Vikalpa: The Journal for Decision Makers, , vol. 43(4), pages 236-249, December.
- Jagadish Prasad Bist, 2018. "Financial development and economic growth: Evidence from a panel of 16 African and non-African low-income countries," Cogent Economics & Finance, Taylor & Francis Journals, vol. 6(1), pages 1449780-144, January.
- Ait Benhamou, Zouhair & Cassin, Lesly, 2021.
"The impact of remittances on savings, capital and economic growth in small emerging countries,"
Economic Modelling, Elsevier, vol. 94(C), pages 789-803.
- Lesly Cassin & Zouhair Aït Benhamou, 2020. "The impact of remittances on savings, capital and economic growth in small emerging countries," Post-Print hal-02477083, HAL.
- Zouhair Ait Benhamou & Lesly Cassin, 2021. "The impact of remittances on savings, capital and economic growth in small emerging countries," Post-Print hal-02967533, HAL.
- Ebru TOPCU Author- Workplace-Name: Nevsehir Haci Bektas Veli University, Department of Economics, Turkey, 2016. "Reexamining Finance-Growth Nexus: A New Literature Survey," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(Special I), pages 1-7, august.
- Chrysost Bangake & Jude Eggoh, 2020.
"Financial Development Thresholds and the Remittances-Growth Nexus,"
Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 18(2), pages 425-445, June.
- Chrysost Bangake & Jude Eggoh, 2019. "Financial Development Thresholds and the Remittances-Growth Nexus," Post-Print hal-02504814, HAL.
- Pradhan, Rudra P. & Arvin, Mak B. & Bahmani, Sahar & Hall, John H. & Norman, Neville R., 2017. "Finance and growth: Evidence from the ARF countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 66(C), pages 136-148.
- Imen Mohamed Sghaier, 2021. "Remittances and Economic Growth in MENA Countries: The Role of Financial Development," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 43-59, March.
- Hem C. Basnet & Bishwa Koirala & Kamal P. Upadhyaya & Ficawoyi Donou-Adonsou, 2021. "Workers’ remittances and financial development: the case of South Asia," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 68(2), pages 185-207, June.
- Kais Mtar & Walid Belazreg, 2021. "Causal Nexus Between Innovation, Financial Development, and Economic Growth: the Case of OECD Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(1), pages 310-341, March.
- S. Bolarinwa, Thompson & O. Akinbobola, Temidayo, 2021. "Remittances-Financial Development Nexus: Causal Evidence From Four African Countries," Ilorin Journal of Economic Policy, Department of Economics, University of Ilorin, vol. 8(1), pages 1-17, June.
- Christian Nsiah & Bichaka Fayissa & Chen Wu, 2019. "The Long-Run Impact of Financial Development on Remittances: Evidence from Developing Countries," Review of Economics & Finance, Better Advances Press, Canada, vol. 16, pages 31-46, May.
- James Temitope Dada & Taiwo Akinlo, 2023. "Remittances-Finance-Growth Trilogy: Do Remittance And Financial Development Complement Or Substitute Each Other To Affect Growth In Nigeria?," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 68(236), pages 105-138, January –.
- Chow, Sheung Chi & Vieito, João Paulo & Wong, Wing Keung, 2019.
"Do both demand-following and supply-leading theories hold true in developing countries?,"
Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 513(C), pages 536-554.
- Chow, Sheung Chi & Vieito, João Paulo & Wong, Wing-Keung, 2018. "Do both demand-following and supply-leading theories hold true in developing countries?," MPRA Paper 87641, University Library of Munich, Germany.
- Ma, Yechi & Chen, Zhiguo & Shinwari, Riazullah & Khan, Zeeshan, 2021. "Financialization, globalization, and Dutch disease: Is Dutch disease exist for resources rich countries?," Resources Policy, Elsevier, vol. 72(C).
- Thanh Dinh Su & Canh Phuc Nguyen, 2022. "Foreign financial flows, human capital and economic growth in African developing countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3010-3031, July.
- Pamela Efua Ofori & Daryna Grechyna & Muhammad Shafiullah, 2021.
"Remittances, natural resource rent and economic growth in Sub-Saharan Africa,"
Cogent Economics & Finance, Taylor & Francis Journals, vol. 9(1), pages 1979305-197, January.
- Pamela E. Ofori & Daryna Grechyna, 2021. "Remittances, Natural Resource Rent and Economic Growth in Sub-Saharan Africa," Working Papers 21/056, European Xtramile Centre of African Studies (EXCAS).
- Pamela E. Ofori & Daryna Grechyna, 2021. "Remittances, Natural Resource Rent and Economic Growth in Sub-Saharan Africa," Research Africa Network Working Papers 21/056, Research Africa Network (RAN).
- Ofori, Pamela Efua & Grechyna, Daryna, 2021. "Remittances, Natural Resource Rent and Economic Growth in Sub-Saharan Africa," MPRA Paper 109696, University Library of Munich, Germany, revised 17 Aug 2021.
- Pamela E. Ofori & Daryna Grechyna, 2021. "Remittances, Natural Resource Rent and Economic Growth in Sub-Saharan Africa," Working Papers of the African Governance and Development Institute. 21/056, African Governance and Development Institute..
- Wu, Chen & Nsiah, Christian & Fayissa, Bichaka, 2023. "Analyzing the differential impacts of financial sector development on remittance inflows," Research in Economics, Elsevier, vol. 77(2), pages 239-250.
- Jude Eggoh & Chrysost Bangake & Gervasio Semedo, 2019.
"Do remittances spur economic growth? Evidence from developing countries,"
The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 28(4), pages 391-418, May.
- Jude Eggoh & Chrysost Bangake & Gervasio Semedo, 2018. "Do remittances spur economic growth? Evidence from developing countries," Post-Print hal-02107277, HAL.
- Sena Kimm Gnangnon, 2019. "Remittances Inflows and Trade Policy," Remittances Review, Remittances Review, vol. 4(2), pages 117-142, October.
More about this item
Keywords
Financial development; Remittance; Economic growth; Nonlinear panel ARDL; MINT;All these keywords.
JEL classification:
- C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
- O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
- O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:futbus:v:7:y:2021:i:1:d:10.1186_s43093-021-00085-6. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.