scholarly journals Determinants Du Developpement Financier Dans Les Pays De La Zone Franc Cfa: Le Role De La Qualite Des Institutions

2016 ◽  
Vol 12 (28) ◽  
pp. 285
Author(s):  
Kos à Mougnol Alice ◽  
Pr Kamajou François
Keyword(s):  
Financial Development ◽  
Political Stability ◽  
Dynamic Panel Data ◽  
Institutional Factors ◽  
Dynamic Panel ◽  
Franc Zone ◽  
Institutional Convergence ◽  
Cfa Franc

This paper aims at analysing the role of the quality of institutions (institutional factors) on financial development within the fourteen countries of the CFA Franc zone. For that purpose, the Pool Mean Group (PMG) method is used in order to estimate a linear model in dynamic panel data over the period 1996-2011. Findings show that the quality of some institutions (corruption, political stability, quality of regulation…) conditions or affects the improvement level of financial system of the above-listed countries. To contribute to the emergence of better developed finance and of course more productive, the paper stands for an “institutional convergence” as one of the assets of financial development in the CFA Franc countries.

scholarly journals An econometric study of the role of the political stability on the relationship between democracy and economic growth

2020 ◽  
Vol 67 (2) ◽  
pp. 187-206
Author(s):  
Nedra Baklouti ◽  
Younes Boujelbene
Keyword(s):  
Economic Growth ◽  
Data Model ◽  
Generalized Method Of Moments ◽  
Political Stability ◽  
Dynamic Panel Data ◽  
The Political ◽  
Dynamic Panel ◽  
Mena Countries ◽  
The Relationship

This article examines the nexus between democracy and economic growth while taking into account the role of political stability, using dynamic panel data model estimated by means of the Generalized Method of Moments (GMM) over the period 1998 to 2011 for 17 Middle East and North Africa (MENA) countries. Our empirical results showed that there is a bidirectional causal relationship between democracy and economic growth. Moreover, it was found that the effect of democracy on economic growth depends on the political stability. The results also indicated that there is important complementarity between political stability and democracy. In fact, political stability is a key determinant variable of economic growth. Eventually, democracy and political stability, taken together, have a positive and statistically significant effect on economic growth. This finding suggests that, if accompanied by a stable political system, democracy can contribute to the economic growth of countries. Thus, the MENA governments should use policies to promote political stability in the region.

scholarly journals Financial development, income inequality and governance institutions

2020 ◽  
pp. 4-4
Author(s):  
Cristiano Perugini ◽  
Ipek Tekin
Keyword(s):  
Financial Development ◽  
Political Stability ◽  
Dynamic Panel Data ◽  
Panel Data Models ◽  
Dynamic Panel ◽  
Mediating Role ◽  
Regulatory Quality ◽  
Governance Institutions ◽  
The Relationship ◽  
Control Of Corruption

The paper investigates empirically how governance institutions mediate the link between financial development and inequality. To this aim, we assemble a dataset of 48 middle- and high-income countries for the period 1996-2014. Results, obtained by means of instrumental variables dynamic panel data models, reveal that financial development is pro-inequality; however, the strength of the relationship is attenuated in contexts with stricter control of corruption, better regulatory quality, political stability and rule of law. Institutional domains less directly related to the market economy - political voice and accountability and government effectiveness - do not play any mediating role.

scholarly journals Remittances and health outcomes in Sub-Saharan African countries: Understanding the role of financial development and institutional quality

2021 ◽  
Vol 66 (229) ◽  
pp. 119-144
Author(s):  
Uweis Bare ◽  
Yasmin Bani ◽  
Normaz Ismail ◽  
Anitha Rosland
Keyword(s):  
Health Outcomes ◽  
Financial Development ◽  
Institutional Quality ◽  
Sub Saharan Africa ◽  
African Countries ◽  
Dynamic Panel ◽  
Sub Saharan ◽  
Ssa Countries

Sub-Saharan Africa (SSA) is one of the highest recipients of remittances; however, this is inconsistent with the region?s growth and the state of its weak healthcare systems. This paper therefore analyses the effect of remittances on health outcomes for 39 selected SSA countries over the period 1996 to 2016. It considers the channels through which remittances affect health outcomes, including financial development and institutional quality. Using dynamic panel estimation, we find that remittances sustain health outcomes, while both financial development and institutional quality complement remittances in this respect. SSA countries should therefore continue to improve their financial sectors and develop the quality of institutions to an adequate level. Achieving sound financial systems and institutions would both allow and attract a substantial amount of remittances, benefitting human capital and health outcomes and alleviating poverty.

Vertical Imbalance and Local Fiscal Discipline in China

2008 ◽  
Vol 8 (1) ◽  
pp. 61-88 ◽  
Author(s):  
Gang Guo
Keyword(s):  
Local Governments ◽  
Panel Data Analysis ◽  
Political Stability ◽  
Dynamic Panel Data ◽  
Transfer Payment ◽  
System Reform ◽  
Fiscal Discipline ◽  
Dynamic Panel ◽  
Transfer Scheme ◽  
Fiscal Behavior

This article examines local fiscal behavior in contemporary China against the backdrop of decentralized spending responsibilities and recentralized revenues. Vertical imbalance after the 1994 tax-sharing system reform, coupled with other features of the fiscal institutions, is not conducive to conservative local fiscal behavior. Moreover, a main driving force behind the expansion of local governments is the politically motivated intergovernmental transfer scheme. The center in effect “buys” political stability in sensitive areas while holding local leaders accountable for their tax efforts. A dynamic panel analysis of Chinese counties reveals that a million-yuan increase in general transfer payment and salary raise subsidies would add, respectively, fifteen and sixteen employees to the county government payroll, other things being equal. At the same time, increased subsidies from upper-level governments do not “crowd out” or significantly affect local tax effort. Additional dynamic panel data analysis at the provincial level produced similar findings.

scholarly journals The Role of Urbanization Rate in the Relationship between Air Pollution and Health Expenditures: A Dynamic Panel Data Approach

2015 ◽  
Vol 53 ◽  
pp. 68-72 ◽  
Author(s):  
Maryam Fattahi
Keyword(s):  
Air Pollution ◽  
Generalized Method Of Moments ◽  
Health Expenditures ◽  
Dynamic Panel Data ◽  
Dynamic Panel ◽  
Public And Private ◽  
Urbanization Rate ◽  
The Impact ◽  
The Relationship

One of the available challenges in areas of health economics is identification of the effective factors on health expenditures. Air pollution plays important role in the public and private health expenditure but most studies have ignored the role of this category in explanation of health expenditures. On the other hand, the impact of air pollution on health expenditures is influenced by several factors. This study intends to investigate the effect of air pollution on public and private health expenditures and to identify the urbanization rate factor affecting the relationship between air pollution and public and private health expenditures. Scope of the present study is developing countries over period of 1995-2011. We used a dynamic panel and Generalized Method of Moments method. The empirical results indicate that air pollution has positive and significant effect on public and private health expenditures. Also, the results imply that urbanization rate affecting the relationship between air pollution and health expenditures that urbanization rate plays a reinforcing role.

The role of tourism in island economic growth and resilience

2019 ◽  
Vol 46 (7) ◽  
pp. 1418-1436 ◽  
Author(s):  
Fabio Mazzola ◽  
Pietro Pizzuto ◽  
Giovanni Ruggieri
Keyword(s):  
Design Methodology ◽  
Dynamic Panel Data ◽  
Tourism Demand ◽  
Economic Resilience ◽  
Dynamic Panel ◽  
Content Type ◽  
Tourism Sector ◽  
The Mediterranean Basin ◽  
Growth Hypothesis

Purpose The purpose of this paper is to verifying the economic resilience of islands and, in particular, the role of the tourism sector in the reaction to the most recent economic crisis. The analysis concerns insular contexts, such as the greater island regions in the Mediterranean basin. Design/methodology/approach Static and dynamic panel data techniques are used for a sample of 13 island economies over a period of 16 years. Findings Results show that the growth factors for regional islands are similar to the ones usually considered for other regions, but the tourism-led growth hypothesis is highly supported. Tourism demand more than supply plays a role together with accessibility. The crisis has reduced the importance of tourism supply, while tourism demand and accessibility have remained crucial for growth together with other traditional engines of growth. Originality/value To the best of authors’ knowledge, none of the current works has considered territorial determinants and tourism indicators inside the same framework analyzing growth in island economies by considering the changes occurred during the crisis explicitly.

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