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Financial Development and Unemployment in Emerging Market Economies

Author

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  • Bayar Yilmaz

    (Faculty of Economics and Administrative Sciences, Usak University, Turkey)

Abstract

Financial sector has experienced significant expansion together with accelerating financial globalization in recent years and had important positive and negative economic implications for all the economies. This study investigates the interaction among unemployment, financial development and domestic investment in 16 emerging market economies during 2001-2014 period using panel data analysis. We found that there was long relationship among the variables and domestic investment had negative impact on the unemployment, while financial development had no significant impact on the unemployment. Furthermore, there was unidirectional causality from development of financial sector to unemployment.

Suggested Citation

  • Bayar Yilmaz, 2016. "Financial Development and Unemployment in Emerging Market Economies," Scientific Annals of Economics and Business, Sciendo, vol. 63(2), pages 237-245, June.
    • Handle: RePEc:vrs:aicuec:v:63:y:2016:i:2:p:237-245:n:8
    DOI: 10.1515/saeb-2016-0119
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    References listed on IDEAS

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    1. Markus Eberhardt & Francis Teal, 2011. "Econometrics For Grumblers: A New Look At The Literature On Cross‐Country Growth Empirics," Journal of Economic Surveys, Wiley Blackwell, vol. 25(1), pages 109-155, 02.
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    Cited by:

    1. Michael Takudzwa Pasara & Rufaro Garidzirai, 2020. "Causality Effects among Gross Capital Formation, Unemployment and Economic Growth in South Africa," Economies, MDPI, vol. 8(2), pages 1-12, April.

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