Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/173621 
Autor:innen: 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
AGDI Working Paper No. WP/17/015
Verlag: 
African Governance and Development Institute (AGDI), Yaoundé
Zusammenfassung: 
The present inquiry contributes to extant literature by simultaneously accounting for variations in financial development and financial globalisation in the assessment of hypothetical initial financial development conditions for the rewards of financial globalisation. For this purpose, we examine marginal, threshold and net effects of financial globalisation on financial development throughout the conditional distributions of financial development. The empirical evidence is based on contemporary and non-contemporary quantile regressions with data from 53 African countries for the period 1996-2011. Financial globalisation is measured with Net Foreign Direct Investment inflows whereas financial development entails all dimensions identified by the Financial Development and Structure Database of the World Bank. The findings consistently reveal: (i) positive marginal effects, (ii) unfeasible financial globalisation positive thresholds and (iii) negative financial globalisation net effects. The second and third findings are fundamentally due to marginal effects of low positive magnitude. Policy implications are discussed.
Schlagwörter: 
Banking
International investment
Financial integration
Development
JEL: 
F02
F21
F30
F40
O10
Dokumentart: 
Working Paper

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