DOES FINANCIAL GOVERNANCE STEER FINANCIAL DEVELOPMENT TOWARD SUSTAINABLE DEVELOPMENT?

Autor:	Mallika Saha, Kumar Debasis Dutta
Rok vydání:	2022
Předmět:	Economics and Econometrics
Zdroj:	The Singapore Economic Review. :1-40
ISSN:	1793-6837 0217-5908
DOI:	10.1142/s0217590822500412
Popis:	Unbridled financial development (FD) leads to financial crisis and undermines sustainable development (SD), which underscores the need for financial governance (FG). Following this backdrop, we seek to explore the role of FG in shaping the FD–SD nexus for a panel of 122 countries covering the period 2000–2017 using advanced econometric methods. Results reveal that the FD–SD relationship is nonlinear, and FG positively influences SD. The impact of FG–FD confluence on SD depends on specific FG instruments. These findings are valuable for policymakers to set FD and FG policies and to achieve SD. The study, to the best of our knowledge, is the first that explains the role of FG in the FD–SD nexus.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::bc75b0c6311f78e7b69cd2338207d38a https://doi.org/10.1142/s0217590822500412 Zobrazit plný text záznamu