Natural resources rents-financial development nexus: Evidence from sixteen developing countries
Yükleniyor...
Dosyalar
Tarih
2020
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Elsevier Sci Ltd
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Improving economic growth performance is largely dependent on financial development. Natural resource revenues are among the main sources that can be used in the development of financial systems. The aim of this study is to analyze the effects of each natural resource revenue on financial development in 16 developing countries (Albania, Argentina, Brazil, Bulgaria, China, Colombia, Georgia, Iran, Kazakhstan, Malaysia, Mexico, Peru, Romania, South Africa, Thailand, and Turkey) which gain different natural resources revenue using the data of 1994-2017 period. Panel cointegration analysis was used to investigate long-term relationships between series. Long-term relationships between the series were determined and then PMG and DFE methods were preferred to obtain long-term and short-term coefficients. Empirical results showed that an increase in oil revenues has a positive effect on financial development in the long term. However, in the short-term natural resources rents do not have an impact on financial development.
Açıklama
Anahtar Kelimeler
Natural resources rents, Financial development, Panel cointegration, Panel ARDL, Unit-Root Tests, Economic-Growth, Panel-Data
Kaynak
Resources Policy
WoS Q Değeri
Q1
Scopus Q Değeri
Q1
Cilt
68
