Examining the Financial Development–Economic Growth Nexus from an Institutional Approach: Evidence from Non-Oil Arab Countries

Asian Economic and Financial Review

article

Abdelkarim Yahyaoui¹  Kaies Samet²  Amina Amirat¹ 

[1] Department of Finance and Economics, College of Business, University of Jeddah;Department of Economics, High Institute of Industrial Management of Sfax

关键词: Economic growth;    Financial development;    Generalized method of moments;    Institutional arrangements;    Quality of institutions;    Arab countries.;   

DOI  :  10.18488/journal.aefr.2021.116.457.470

学科分类：社会科学、人文和艺术（综合）

来源: Asian Economic and Social Society

【 摘 要 】

This paper highlights how institution quality plays an important role in the financial development and economic growth nexus in six developing Arab countries. Several estimations were calculated using the generalized method of moments (GMM) covering the period from 1990 to 2016. The results for the selected countries show that the institutions’ quality is responsible for diffusion between financial and real spheres. Thus, the financial system needs good institutional quality presented by better socio-economic conditions, corruption control and a well-respected legal framework to accelerate economic growth.

【 授权许可】

CC BY