Does financial development foster economic globalization in emerging economies? Time series evidence from China and India

被引：6

作者：

Mahalik, Mantu Kumar ^{[1
]}

Mallick, Hrushikesh ^{[2
]}

Pal, Shreya ^{[1
]}

机构：

[1] Indian Inst Technol Kharagpur, Dept Humanities & Social Sci, Kharagpur 721302, W Bengal, India

[2] Ctr Dev Studies, Trivandrum, Kerala, India

来源：

JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT | 2023年 / 32卷 / 06期

关键词：

Financial sector development; economic globalization; economic growth; comparative perspective for emerging economies; India and China; FOREIGN DIRECT-INVESTMENT; TRADE OPENNESS; UNIT-ROOT; GROWTH; DETERMINANTS; COINTEGRATION; QUALITY; REMITTANCES; IMPACT; FDI;

D O I：

10.1080/09638199.2022.2139855

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study explores the role of financial development in economic globalization for India and China by controlling economic growth, institutional quality, inflation, government investment, and real interest rate as crucial determinants. Using annual time series data from 1984 to 2018, the long-run estimates from ARDL model reveal that financial development, institutional quality, and government investment significantly drive economic globalization. We also find that the inflation rate offsets economic globalization in India but promotes it in China. Interestingly, while economic growth promotes economic globalization in India, it impedes in China. The varying effects of real interest rates on economic globalization are observed in both economies. These findings offer key macroeconomic policy.

引用

页码：902 / 929

页数：28