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dc.contributor.authorUzar, Umut
dc.contributor.authorEyuboglu, Kemal
dc.contributor.authorAkdag, Saffet
dc.contributor.authorAlola, Andrew Adewale
dc.date.accessioned2024-04-30T09:23:14Z
dc.date.available2024-04-30T09:23:14Z
dc.date.created2023-10-11T11:14:35Z
dc.date.issued2023
dc.identifier.citationPhysica A: Statistical Mechanics and its Applications. 2023, 626 .en_US
dc.identifier.issn0378-4371
dc.identifier.urihttps://hdl.handle.net/11250/3128600
dc.description.abstractThe world has experienced increased integration of economic activities in the last decades, thus necessitating the unending examination of the responsible factors. In this case, the causal connection between institutional quality and financial development in 102 countries during the period 1990–2016 is examined. Beyond examining this relationship for the entire countries, the countries are further divided into four different income groups (low-income, lower-middle income, upper-middle income, and high-income countries). By employing empirical method that accounts for country-specific factors in the panel, the result of the study demonstrates bidirectional causality between institutional quality and financial development in the whole panel. In terms of country-income groups, the evidence of the study designates that there is two-way causality between institutional quality and financial development in upper-middle income and high-income countries. Moreover, no causality relationship is found in low-income and lower-middle income countries. These results provide policy guide on the effective way of promoting foreign direct investment across the globe.en_US
dc.language.isoengen_US
dc.rightsNavngivelse 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/deed.no*
dc.subjectfinancial marketsen_US
dc.subjectfinancial developmenten_US
dc.subjectinstitutionsen_US
dc.subjectgausality analysisen_US
dc.subjectglobal evidenceen_US
dc.titleCausal inference of financial development and institutional quality across the globeen_US
dc.title.alternativeCausal inference of financial development and institutional quality across the globeen_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.description.versionpublishedVersionen_US
dc.rights.holder© 2023 The Author(s).en_US
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210en_US
dc.source.pagenumber0en_US
dc.source.volume626en_US
dc.source.journalPhysica A: Statistical Mechanics and its Applicationsen_US
dc.identifier.doi10.1016/j.physa.2023.129035
dc.identifier.cristin2183665
dc.source.articlenumber129035en_US
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode1


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Navngivelse 4.0 Internasjonal
Except where otherwise noted, this item's license is described as Navngivelse 4.0 Internasjonal