Does financial sector development promote economic globalization in Africa
Bibliographic Data
| ID | 6449072 |
|---|---|
| Authors | Samuel Tawiah Baidoo (0000-0001-5941-6308, Kwame Nkrumah University of Science and Technology, corresponding author), Daniel Sakyi (0000-0002-4231-0061, Kwame Nkrumah University of Science and Technology), Emmanuel Buabeng (0000-0001-5523-8452, Kwame Nkrumah University of Science and Technology) |
| Year | 2024 |
| Volume | 10 |
| Issue | 1 |
| Pages | 69-86 |
| Publication date | 2024-12-11 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Seikei ronsō/Review of economics and political science (JOURNAL) |
| Journal identifiers | ISSN: 0387-3285 • E-ISSN: 2631-3561 |
| Publisher | Emerald (PUBLISHER) |
| DOI | 10.1108/reps-08-2023-0089 |
| OpenAlex | W4405263248 |
| Language | EN |
| References cited | 55 |
Purpose This paper investigates whether financial sector development promotes economic globalization (EG) using data from 45 African countries. Design/methodology/approach Using panel data of the selected African countries, the two-step system generalized method of moments estimation technique which is capable of solving any possible endogeneity problem is employed for the empirical analysis. Findings The main finding is that all measures of financial sector development have a significant positive impact on EG in Africa. The results suggest that improving the financial sector development in a holistic manner is key in fostering EG in Africa. Originality/value This present paper uses broader measures of EG and financial sector development. Using broader measures of these variables widens the policy scope in terms of policy adoption and implementation
Business · Developing country · Development economics · Econometrics · Economic growth · Economic sector · Economic system · Economics · Economy · Endogeneity · Estimation · Financial sector · Financial sector development · Generalized method of moments · Globalization · Macroeconomics · Market economy · Originality · Panel data · Political science · Public economics · Scope (computer science · Computer Science · Corporate Finance and Governance · Economic Growth and Development · Fiscal Policy and Economic Growth · Finance
Financial development and international trade
The Evidence on Globalisation
Credit Constraints, Heterogeneous Firms, and International Trade
Growth Empirics
The linkages between natural resources, human capital, globalization, economic growth, financial development, and ecological footprint
Some Tests of Specification for Panel Data
Does globalization affect growth? Evidence from a new index of globalization
Initial conditions and moment restrictions in dynamic panel data models
The Globalization–Welfare State Nexus Reconsidered
The multidimensional effect of financial development on trade in Africa
Inclusive globalization or old wine in a new bottle? China-led globalization in sub-Saharan Africa
Globalisation and Female Economic Participation in Sub-Saharan Africa
The effects of financial development on foreign direct investment
Globalization, Economic Freedom, and Human Rights
Democracy, foreign direct investment and natural resources
| Citation velocity | historical |
|---|---|
| Highly cited | No |