Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL
Abstract The empirical analysis examines the asymmetric effect of financial development and remittance on economic growth in MINT nations (Mexico, Indonesia, Nigeria, and Turkey). The present study utilized panel data covering the period from 1980 to 2019. The research objectives are to address the...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
SpringerOpen
2021-11-01
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| Series: | Future Business Journal |
| Subjects: | |
| Online Access: | https://doi.org/10.1186/s43093-021-00085-6 |
| _version_ | 1818841085086007296 |
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| author | Jamiu Adetola Odugbesan Tomiwa Adebayo Sunday Gbolahan Olowu |
| author_facet | Jamiu Adetola Odugbesan Tomiwa Adebayo Sunday Gbolahan Olowu |
| author_sort | Jamiu Adetola Odugbesan |
| collection | DOAJ |
| description | Abstract The empirical analysis examines the asymmetric effect of financial development and remittance on economic growth in MINT nations (Mexico, Indonesia, Nigeria, and Turkey). The present study utilized panel data covering the period from 1980 to 2019. The research objectives are to address the questions: (a) Is there a long-run association between economic growth and the regressors? (b) Do financial development and remittance trigger MINT nations' economic growth? Moreover, the present study applied both linear panel ARDL and the novel panel nonlinear ARDL to capture the asymmetric impact of development and remittance on economic growth. The outcomes of the linear ARDL disclosed that both financial development and remittance triggers economic growth positively. Furthermore, the outcomes of the NARDL disclosed that both positive and negative shocks in financial development increase economic growth. In addition, a positive and negative shock in remittance increases economic growth in the long-run. |
| first_indexed | 2024-12-19T04:20:28Z |
| format | Article |
| id | doaj.art-f504c55009f549d7a63700d816254b8c |
| institution | Directory Open Access Journal |
| issn | 2314-7210 |
| language | English |
| last_indexed | 2024-12-19T04:20:28Z |
| publishDate | 2021-11-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Future Business Journal |
| spelling | doaj.art-f504c55009f549d7a63700d816254b8c2022-12-21T20:36:10ZengSpringerOpenFuture Business Journal2314-72102021-11-01711910.1186/s43093-021-00085-6Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDLJamiu Adetola Odugbesan0Tomiwa Adebayo Sunday1Gbolahan Olowu2Department of Business Administration, Faculty of Economics and Administrative Science, Cyprus International UniversityDepartment of Business Administration, Faculty of Economics and Administrative Science, Cyprus International UniversityDepartment of Business Administration, Faculty of Economics and Administrative Science, Cyprus International UniversityAbstract The empirical analysis examines the asymmetric effect of financial development and remittance on economic growth in MINT nations (Mexico, Indonesia, Nigeria, and Turkey). The present study utilized panel data covering the period from 1980 to 2019. The research objectives are to address the questions: (a) Is there a long-run association between economic growth and the regressors? (b) Do financial development and remittance trigger MINT nations' economic growth? Moreover, the present study applied both linear panel ARDL and the novel panel nonlinear ARDL to capture the asymmetric impact of development and remittance on economic growth. The outcomes of the linear ARDL disclosed that both financial development and remittance triggers economic growth positively. Furthermore, the outcomes of the NARDL disclosed that both positive and negative shocks in financial development increase economic growth. In addition, a positive and negative shock in remittance increases economic growth in the long-run.https://doi.org/10.1186/s43093-021-00085-6Financial developmentRemittanceEconomic growthNonlinear panel ARDLMINT |
| spellingShingle | Jamiu Adetola Odugbesan Tomiwa Adebayo Sunday Gbolahan Olowu Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL Future Business Journal Financial development Remittance Economic growth Nonlinear panel ARDL MINT |
| title | Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL |
| title_full | Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL |
| title_fullStr | Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL |
| title_full_unstemmed | Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL |
| title_short | Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL |
| title_sort | asymmetric effect of financial development and remittance on economic growth in mint economies an application of panel nardl |
| topic | Financial development Remittance Economic growth Nonlinear panel ARDL MINT |
| url | https://doi.org/10.1186/s43093-021-00085-6 |
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