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Institutional Quality in Fostering Financial Development in Emerging Market Economies

机译:促进新兴市场经济体育经济发展的机构质量

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This research explores the role and importance of institutional quality in promoting financial development in emerging market countries. The panel dataset was conducted on 26 emerging countries for the period covering 1999-2019. The dataset was collected from major sources including World Governance Indicators (WGI) from World Bank, International Financial Statistics office (IFS), and World Development Indicators (WDI). We used GMM and 2SLS methods to analyze the behavior of the components of institutional quality including political stability, regulatory quality, rule of law, control over corruption, government effectiveness, and voice and accountability in influencing financial development. According to the results obtained, well-functioning institutions have the capability to promote financial development. Countries that have improved their institutional quality and governance systems have scored high rates of financial development. A unit increase in the components of institutional quality has a positive and significant influence on financial development. This indicates that poor institutions lead to poor financial growth.
机译:本研究探讨了机构质量在促进新兴市场国家的金融发展方面的作用和重要性。面板数据集是在26个新兴国家进行的,该国家为1999 - 2019年的期间。该数据集是从世界银行,国际财务统计局(IFS)和世界发展指标(WDI)的世界管理指标(WGI)的主要来源。我们使用GMM和2SLS方法来分析机构素质组成部分的行为,包括政治稳定,监管质量,法治,控制腐败,政府效率以及影响金融发展的声音和问责制。根据所得的结果,运作良好的机构具有促进金融发展的能力。改善其机构素质和治理系统的国家得到了高度的金融发展率。机构质量组成部件增加对金融发展有积极和重大影响。这表明贫困机构导致金融增长差。

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