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Economic growth-financial development-poverty nexus in emerging markets

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  • Kunofiwa Tsaurai

Abstract

The study's three objectives were to investigate: 1) impact of economic growth on poverty; 2) financial development's influence on poverty; 3) if financial development is an avenue through which economic growth alleviates poverty in emerging markets. The study used the dynamic generalised methods of moments (dynamic GMM) with annual panel data covering the period from 2005 to 2019. Economic growth was found to have non-significantly reduced poverty whilst financial development significantly reduced poverty levels in emerging markets. On the other hand, the complementarity between economic growth and financial development was found to have enhanced poverty reduction efforts in emerging markets. Financial development was found to be a channel through which economic growth reduced poverty in emerging markets. Emerging markets are therefore urged to implement financial development enhancement policies in order to successfully fight off poverty.

Suggested Citation

  • Kunofiwa Tsaurai, 2021. "Economic growth-financial development-poverty nexus in emerging markets," International Journal of Services, Economics and Management, Inderscience Enterprises Ltd, vol. 12(1), pages 93-108.
    • Handle: RePEc:ids:injsem:v:12:y:2021:i:1:p:93-108
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    Cited by:

    1. Clement Olalekan Olaniyi & James Temitope Dada & Nicholas Mbaya Odhiambo & Xuan Vinh Vo, 2023. "Modelling asymmetric structure in the finance-poverty nexus: empirical insights from an emerging market economy," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(1), pages 453-487, February.
    2. Abdul Rehman & Laura Mariana Cismas & Ioana Anda Milin, 2022. "“The Three Evils”: Inflation, Poverty and Unemployment’s Shadow on Economic Progress—A Novel Exploration from the Asymmetric Technique," Sustainability, MDPI, vol. 14(14), pages 1-16, July.

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