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Research
Do institutions, financial and trade openness matter for financial development? Evidence from Muslim Countries
Amjad Ali
Karkoram International University Hunza Campus
Corresponding Author
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This work is licensed under a CC BY 4.0 License. Read Full License
This study investigates the influence of institutional, financial openness and trade openness on financial development in the case of 26 Muslim countries. For this purpose, panel data have been taken from world development indicators for the period 2002-2014 and the panel data model has been estimated using fixed effect random effect models. The findings of this paper have highlighted the role of institutions, trade and financial openness in financial development. The results show that the quality of institution, trade openness and economic growth have significant and positive effect on financial development. Keeping in view the results, it is recommended that Muslim countries should focus on adopting free trade policies, maintaining law and order situation, elimination of corruption and enhancing the quality of institutions for financial sector development.
Keywords
Financial Development (FD), Institutional Quality, Trade Openness (TO), Financial Openness (FO), Muslim countries
Due to technical limitations, full-text HTML conversion of this manuscript could not be completed. However, the manuscript can be downloaded and accessed as a PDF.
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This is a preprint. It has not completed peer review.
Research
Do institutions, financial and trade openness matter for financial development? Evidence from Muslim Countries
Amjad Ali
Karkoram International University Hunza Campus
Corresponding Author
Badges
Prescreen
This manuscript passed our Prescreen assessment
Complete author information
Appropriate declaration statements
Potential risks to human health
Prescreen
History
CURRENT STATUS: Posted
Version 1
Posted 15 Apr, 2020
No community comments so far
Metrics
Comments: 0
PDF Downloads: ...
HTML Views: ...
Subject Areas
International Economics
License:
This work is licensed under a CC BY 4.0 License. Read Full License
This study investigates the influence of institutional, financial openness and trade openness on financial development in the case of 26 Muslim countries. For this purpose, panel data have been taken from world development indicators for the period 2002-2014 and the panel data model has been estimated using fixed effect random effect models. The findings of this paper have highlighted the role of institutions, trade and financial openness in financial development. The results show that the quality of institution, trade openness and economic growth have significant and positive effect on financial development. Keeping in view the results, it is recommended that Muslim countries should focus on adopting free trade policies, maintaining law and order situation, elimination of corruption and enhancing the quality of institutions for financial sector development.
Due to technical limitations, full-text HTML conversion of this manuscript could not be completed. However, the manuscript can be downloaded and accessed as a PDF.