Financial development and democracy : is the relationship non-linear ?
Joint Authors
Ghardallou, Wafa
Boudriga, Abd al-Qadir
Source
Economic Research Forum : Working Paper Series
Issue
Vol. 2014, Issue 825-900 (31 Dec. 2014), pp.1-16, 16 p.
Publisher
Economic Research Forum for the Arab Countries Iran and Turkey
Publication Date
2014-12-31
Country of Publication
Egypt
No. of Pages
16
Main Subjects
Topics
Abstract AR
نظريات الاقتصاد السياسي للتنمية المالية لا تعطي مؤشرا واضحا على آثار نمو النظام السياسي.
هناك أدلة الإيجابية و السلبية و ليس له تأثير مباشر الديمقراطية على النمو المالي.
تحاول هذه الورقة لحل هذا الخلاف من خلال دراسة دور اللاخطية باستخدام تقدير نماذج السلس للبيانات اللوحية (PSTR).
تقدم النتائج التي توصلنا إليها أدلة قوية على أن الديمقراطية غير الخطية تؤثر على التنمية المالية.
و بشكل أكثر تحديدا، هناك عتبة و التي أدناها تكون ممارسات الديمقراطية لها تأثير سلبي على التنمية المالية، و بعدها يكون تعزيز للنمو في البلدان الناشئة.
Abstract EN
Political economy theories of financial development give no clear indication on how political regime impacts growth.
There is evidence of positive, negative and no direct effect of democracy on financial growth.
This paper attempts to resolve this controversy by studying the role of nonlinearities using the estimation of smooth models for panel data (PSTR).
Our findings offer strong evidence that democracy non-linearly impacts financial development.
More specifically, there exists a threshold below which democracy exerts a negative effect on financial development, and beyond which it is growth enhancing for emerging countries.
American Psychological Association (APA)
Ghardallou, Wafa& Boudriga, Abd al-Qadir. 2014. Financial development and democracy : is the relationship non-linear ?. Economic Research Forum : Working Paper Series،Vol. 2014, no. 825-900, pp.1-16.
https://search.emarefa.net/detail/BIM-524737
Modern Language Association (MLA)
Ghardallou, Wafa& Boudriga, Abd al-Qadir. Financial development and democracy : is the relationship non-linear ?. Economic Research Forum : Working Paper Series No. 825-900 (2014), pp.1-16.
https://search.emarefa.net/detail/BIM-524737
American Medical Association (AMA)
Ghardallou, Wafa& Boudriga, Abd al-Qadir. Financial development and democracy : is the relationship non-linear ?. Economic Research Forum : Working Paper Series. 2014. Vol. 2014, no. 825-900, pp.1-16.
https://search.emarefa.net/detail/BIM-524737
Data Type
Journal Articles
Language
English
Notes
Includes appendices : p. 14-16
Record ID
BIM-524737