scholarly journals The determinants of the global competitiveness of the economy: a dynamic panel approach applied to the WAEMU country

2020 ◽  
Author(s):  
Moussa SIGUE
Keyword(s):  
Financial Development ◽  
External Pressure ◽  
Commercial Policy ◽  
Economic Openness ◽  
Dynamic Panel ◽  
Global Competitiveness ◽  
Quality Of Institutions ◽  
Generalized Moments ◽  
Internal Absorption

Abstract This article examines the determinants of the overall competitiveness of the WAEMU economy from a dynamic panel approach over the period 2011–2017. The estimate by the method of generalized moments in system (GMM) Reveled that the delayed competitiveness of a period financial development, GDP per head, internal absorption and taxes on foreign trade affects positively and significantly the overall competitiveness of the WAEMU countries while economic openness, the rate of inflation and the quality of institutions have contributed negative and significant. It emerges from this work that an improvement in the overall competitiveness of the Union's economy imperatively requires accelerating the process of development of quality, the financial system as well as protecting local industries from external pressure to through a more adequate commercial policy taking into account the constraints linked to commercial agreements.

scholarly journals The Determinants of Global Competitiveness of Economy: A Dynamic Panel Approach Applied to the WAEMU Countries

2020 ◽  
Vol 6 (2) ◽  
pp. 16
Author(s):  
Moussa Sigue
Keyword(s):  
Significant Contribution ◽  
Generalized Method Of Moments ◽  
Economic Openness ◽  
Dynamic Panel ◽  
Dynamic Panel Model ◽  
Global Competitiveness ◽  
Panel Model ◽  
The Subject ◽  
Internal Absorption

This paper examines the determinants of the global competitiveness of the WAEMU economy applying a dynamic panel approach from 2011 to 2017. After providing a synthesis of the both theoretical and empirical debates on the subject, we derived a dynamic panel model which estimation was reached using the system generalized method of moments (GMM). The result of the estimation shows that competitiveness lagged by one period, financial development, GDP per capita, internal absorption and foreign trade taxes positively and significantly affect the global competitiveness of WAEMU countries, while economic openness, the inflation rate and the quality of institutions have a negative and significant contribution.

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.

scholarly journals Global Imbalances: The Role of Institutions, Financial Development and FDI in the Context of Financial Crises

2021 ◽  
Vol 13 (1) ◽  
pp. 356
Author(s):  
Carlos A. Silva ◽  
Xavier Ordeñana ◽  
Paul Vera-Gilces ◽  
Alfredo Jiménez
Keyword(s):  
Financial Crisis ◽  
Financial Development ◽  
Current Account ◽  
Global Financial Crisis ◽  
Quality Of Institutions ◽  
Current Account Imbalances ◽  
The Global Financial Crisis ◽  
Current Account Balances

This paper examines the role of the quality of institutions, financial development and FDI on current account imbalances, which narrowed during the Global Financial Crisis. In doing so, we utilize (i) a sample of 49 advanced and emerging economies during 1984–2014; (ii) a novel three-clustered indices of institutional quality and (iii) two measures of financial development, the share of FDI and a measure of financial crisis in addition to standard determinants of the current account. We find that the better the quality of institutions and the greater the financial development, the larger are current account deficits; meanwhile, FDI contributes to boost current account balances. Moreover, financial crisis episodes tend to improve current account balances, particularly for countries that are highly open to trade and to receive FDI, as in the case of advanced economies and East Asian countries.

scholarly journals Central Bank Independence and Inflation: The Matters of Financial Development and Institutional Quality

2020 ◽  
Vol 9 (1) ◽  
pp. 1-14
Author(s):  
Agung Kunaedi ◽  
Darwanto Darwanto
Keyword(s):  
Central Bank ◽  
Financial Development ◽  
Inverse Relationship ◽  
Institutional Quality ◽  
Financial Sector ◽  
Central Bank Independence ◽  
Institutional Diversity ◽  
Dynamic Panel ◽  
The Relationship

The inverse relationship between the independence of the central bank (CBI) and inflation became a consensus that trusted throughout the world. However, there is no conclusive explanation of why and how central bank independence has succeeded in suppressing inflation. The purpose of this study is to examine the influence of financial development and institutional quality on the relationship between central bank independence and inflation. Using 20 Countries of Asia with institutional diversity, this study analyzed through a dynamic panel approach (GMM-Arellano and Bond Estimator). The result indicates that the inverse relationship between central bank independence and inflation depends on the development of the financial sector and also the institutional quality of each country. In other words, to make the central bank's independence work effectively in order to solve bias inflation, the improvement of the financial sector and also the institutional quality is needed.JEL Classification : E580, E310, E020 How to Cite:Kunaedi, A., & Darwanto. (2020). Central Bank Independence and Inflation: The Matters of Financial Development and Institutional Quality. Signifikan: Jurnal Ilmu Ekonomi, Vol. 9(1), 1-14. doi: http://dx.doi.org/10.15408/sjie.v9i1.12899.

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 The Role of the Quality of Institutions in the Financial Development of CEMAC Countries

2021 ◽  
Vol 12 (02) ◽  
pp. 452-468
Author(s):  
Pierre Ghislain Batila Ngouala Kombo ◽  
Guénolé Bongo Koumou
Keyword(s):  
Financial Development ◽  
Quality Of Institutions

Engineers or Lawyers? Institutions and Demand for Higher Education

2012 ◽  
pp. 30-51 ◽  
Author(s):  
T. Natkhov ◽  
L. Polishchuk
Keyword(s):  
Higher Education ◽  
Public Administration ◽  
Rule Of Law ◽  
Transmission Channel ◽  
Demand For Education ◽  
Fields Of Study ◽  
Quality Of Institutions ◽  
Cross Country ◽  
Rules Of The Game

Law and public administration schools in Russia vastly exceed in their popularity sciences and engineering. We relate such lopsided demand for higher education to the quality of institutions setting “rules of the game” in economy and society. Cross-country and Russian interregional data indicate the quality of institutions (rule of law, protection of property rights etc.) is negatively associated with the demand for education in law, and positively — in sciences and engineering. More gifted younger people are particularly sensitive to the quality of institutions in choosing their fields of study, and such selection is an important transmission channel between institutions and economic growth.

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