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Impact of Financial Integration on Economic Development: A Dynamic Panel Quantile Regression Analysis

Author

Listed:
  • Abdullahi, Abubakar

    (Kaduna State University, Kaduna, Nigeria)

  • Ibrahim, Saifuzzaman

    (Universiti Putra Malaysia, Serdang, Selangor, Malaysia)

  • Hook, Law Siong

    (Universiti Putra Malaysia, Serdang, Selangor, Malaysia)

  • Ngah, Wan Azman Saini Wan

    (Universiti Putra Malaysia, Serdang, Selangor, Malaysia)

Abstract

This paper investigated the impact of financial integration on economic development using the dynamic panel quantile estimator on a sample of 95 countries from 2004-2019. The results showed that the impact of financial integration on economic development varied across income levels. This study found that financial integration impacted economic development negatively in middle and high-income countries. However, financial integration did not significantly affect economic development in low-income countries.

Suggested Citation

  • Abdullahi, Abubakar & Ibrahim, Saifuzzaman & Hook, Law Siong & Ngah, Wan Azman Saini Wan, 2023. "Impact of Financial Integration on Economic Development: A Dynamic Panel Quantile Regression Analysis," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 38(4), pages 628-645.
    • Handle: RePEc:ris:integr:0889
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    More about this item

    Keywords

    Financial Integration; Economic Development; Dynamic Panel Quantile Regression; Income Quantiles;
    All these keywords.

    JEL classification:

    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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