{"id":"https://openalex.org/W3207632058","doi":"https://doi.org/10.1080/1331677x.2021.1985570","title":"The impact of financial development on economic indicators: a dynamic panel data analysis","display_name":"The impact of financial development on economic indicators: a dynamic panel data analysis","publication_year":2021,"publication_date":"2021-10-06","ids":{"openalex":"https://openalex.org/W3207632058","doi":"https://doi.org/10.1080/1331677x.2021.1985570","mag":"3207632058"},"language":"en","primary_location":{"id":"doi:10.1080/1331677x.2021.1985570","doi":"https://doi.org/10.1080/1331677x.2021.1985570","is_oa":true,"landing_page_url":"https://doi.org/10.1080/1331677x.2021.1985570","pdf_url":"https://www.tandfonline.com/doi/pdf/10.1080/1331677X.2021.1985570?needAccess=true","source":{"id":"https://openalex.org/S1014724869","display_name":"Economic Research-Ekonomska Istra\u017eivanja","issn_l":"1331-677X","issn":["1331-677X","1848-9664"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","ddh","erih-plus","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economic Research-Ekonomska Istra\u017eivanja","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.tandfonline.com/doi/pdf/10.1080/1331677X.2021.1985570?needAccess=true","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5014128303","display_name":"Jun Wen","orcid":"https://orcid.org/0000-0002-7544-1076","observed_orcids":["https://orcid.org/0000-0002-7544-1076"]},"institutions":[{"id":"https://openalex.org/I87445476","display_name":"Xi'an Jiaotong University","ror":"https://ror.org/017zhmm22","country_code":"CN","type":"education","lineage":["https://openalex.org/I87445476"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Jun Wen","raw_affiliation_strings":["School of Economics and Finance, Xi\u2019an Jiaotong University, Xi\u2019an, Shaanxi, P.R. China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics and Finance, Xi\u2019an Jiaotong University, Xi\u2019an, Shaanxi, P.R. China","institution_ids":["https://openalex.org/I87445476"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5090886923","display_name":"Hamid Mahmood","orcid":"https://orcid.org/0000-0003-1494-0805","observed_orcids":["https://orcid.org/0000-0003-1494-0805"]},"institutions":[{"id":"https://openalex.org/I87445476","display_name":"Xi'an Jiaotong University","ror":"https://ror.org/017zhmm22","country_code":"CN","type":"education","lineage":["https://openalex.org/I87445476"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Hamid Mahmood","raw_affiliation_strings":["School of Economics and Finance, Xi\u2019an Jiaotong University, Xi\u2019an, Shaanxi, P.R. China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics and Finance, Xi\u2019an Jiaotong University, Xi\u2019an, Shaanxi, P.R. China","institution_ids":["https://openalex.org/I87445476"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5047664741","display_name":"Samia Khalid","orcid":"https://orcid.org/0000-0003-4387-4536","observed_orcids":["https://orcid.org/0000-0003-4387-4536"]},"institutions":[{"id":"https://openalex.org/I87445476","display_name":"Xi'an Jiaotong University","ror":"https://ror.org/017zhmm22","country_code":"CN","type":"education","lineage":["https://openalex.org/I87445476"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Samia Khalid","raw_affiliation_strings":["School of Economics and Finance, Xi\u2019an Jiaotong University, Xi\u2019an, Shaanxi, P.R. China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics and Finance, Xi\u2019an Jiaotong University, Xi\u2019an, Shaanxi, P.R. China","institution_ids":["https://openalex.org/I87445476"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5101421828","display_name":"Muhammad Zakaria","orcid":"https://orcid.org/0000-0001-5270-2694","observed_orcids":["https://orcid.org/0000-0001-5270-2694"]},"institutions":[{"id":"https://openalex.org/I16076960","display_name":"COMSATS University Islamabad","ror":"https://ror.org/00nqqvk19","country_code":"PK","type":"education","lineage":["https://openalex.org/I16076960"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Muhammad Zakaria","raw_affiliation_strings":["Department of Economics, COMSATS University Islamabad, Islamabad Campus, Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, COMSATS University Islamabad, Islamabad Campus, Pakistan","institution_ids":["https://openalex.org/I16076960"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5090886923"],"corresponding_institution_ids":["https://openalex.org/I87445476"],"apc_list":{"value":770,"currency":"GBP","value_usd":944},"apc_paid":{"value":770,"currency":"GBP","value_usd":944},"fwci":19.8402,"has_fulltext":true,"cited_by_count":91,"citation_normalized_percentile":{"value":0.99424175,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":100},"biblio":{"volume":"35","issue":"1","first_page":"2930","last_page":"2942"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.00139999995008111,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.00039999998989515007,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-development","display_name":"financial development","score":1.0},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":0.9900000095367432},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.9990000128746033},{"id":"https://openalex.org/keywords/employment","display_name":"employment","score":0.902999997138977},{"id":"https://openalex.org/keywords/private-sector-credit","display_name":"private sector credit","score":0.9279999732971191},{"id":"https://openalex.org/keywords/liquid-liabilities","display_name":"liquid liabilities","score":0.8119999766349792},{"id":"https://openalex.org/keywords/bank-lending","display_name":"bank lending","score":0.9990000128746033},{"id":"https://openalex.org/keywords/financial-intermediaries","display_name":"financial intermediaries","score":0.6050000190734863},{"id":"https://openalex.org/keywords/credit-allocation","display_name":"credit allocation","score":0.9120000004768372}],"concepts":[{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.6664319038391113},{"id":"https://openalex.org/C65146658","wikidata":"https://www.wikidata.org/wiki/Q1416431","display_name":"Financial intermediary","level":2,"score":0.6482900381088257},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.620741069316864},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5408106446266174},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5253623723983765},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.4814704954624176},{"id":"https://openalex.org/C2778210481","wikidata":"https://www.wikidata.org/wiki/Q4972003","display_name":"Broad money","level":3,"score":0.4787851572036743},{"id":"https://openalex.org/C96250715","wikidata":"https://www.wikidata.org/wiki/Q965330","display_name":"Estimation","level":2,"score":0.45396101474761963},{"id":"https://openalex.org/C2779971977","wikidata":"https://www.wikidata.org/wiki/Q842206","display_name":"Money supply","level":3,"score":0.4412861764431},{"id":"https://openalex.org/C121426985","wikidata":"https://www.wikidata.org/wiki/Q591763","display_name":"Private sector","level":2,"score":0.4321518540382385},{"id":"https://openalex.org/C2986840890","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial sector","level":2,"score":0.4255066215991974},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.41063764691352844},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3977339565753937},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.21856003999710083},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.0935240387916565},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.07524749636650085},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1080/1331677x.2021.1985570","doi":"https://doi.org/10.1080/1331677x.2021.1985570","is_oa":true,"landing_page_url":"https://doi.org/10.1080/1331677x.2021.1985570","pdf_url":"https://www.tandfonline.com/doi/pdf/10.1080/1331677X.2021.1985570?needAccess=true","source":{"id":"https://openalex.org/S1014724869","display_name":"Economic Research-Ekonomska Istra\u017eivanja","issn_l":"1331-677X","issn":["1331-677X","1848-9664"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","ddh","erih-plus","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economic Research-Ekonomska Istra\u017eivanja","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:reroxx:v:35:y:2022:i:1:p:2930-2942","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/1331677X.2021.1985570","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:hrcak.srce.hr:302491","doi":null,"is_oa":true,"landing_page_url":"https://hrcak.srce.hr/302491","pdf_url":null,"source":{"id":"https://openalex.org/S4306400071","display_name":"University of Zagreb University Computing Centre (SRCE)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I181343428","host_organization_name":"University of Zagreb","host_organization_lineage":["https://openalex.org/I181343428"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economic research - Ekonomska istra\u017eivanja","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"doi:10.1080/1331677x.2021.1985570","doi":"https://doi.org/10.1080/1331677x.2021.1985570","is_oa":true,"landing_page_url":"https://doi.org/10.1080/1331677x.2021.1985570","pdf_url":"https://www.tandfonline.com/doi/pdf/10.1080/1331677X.2021.1985570?needAccess=true","source":{"id":"https://openalex.org/S1014724869","display_name":"Economic Research-Ekonomska Istra\u017eivanja","issn_l":"1331-677X","issn":["1331-677X","1848-9664"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","ddh","erih-plus","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economic Research-Ekonomska Istra\u017eivanja","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":1.0}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3207632058.pdf","grobid_xml":"https://content.openalex.org/works/W3207632058.grobid-xml"},"referenced_works_count":69,"referenced_works":["https://openalex.org/W102339703","https://openalex.org/W122310619","https://openalex.org/W650025864","https://openalex.org/W1487877390","https://openalex.org/W1517986825","https://openalex.org/W1574637387","https://openalex.org/W1592992527","https://openalex.org/W1600309847","https://openalex.org/W1986595718","https://openalex.org/W1987580684","https://openalex.org/W1988782429","https://openalex.org/W1997132710","https://openalex.org/W2038081375","https://openalex.org/W2038191419","https://openalex.org/W2045155053","https://openalex.org/W2059752080","https://openalex.org/W2078556006","https://openalex.org/W2085261879","https://openalex.org/W2088835444","https://openalex.org/W2090721537","https://openalex.org/W2103570635","https://openalex.org/W2111763473","https://openalex.org/W2115013622","https://openalex.org/W2121945739","https://openalex.org/W2132741761","https://openalex.org/W2136072582","https://openalex.org/W2212255363","https://openalex.org/W2256347226","https://openalex.org/W2268263548","https://openalex.org/W2269376442","https://openalex.org/W2515268458","https://openalex.org/W2517021361","https://openalex.org/W2525401554","https://openalex.org/W2562249332","https://openalex.org/W2588017506","https://openalex.org/W2609328748","https://openalex.org/W2610834048","https://openalex.org/W2666789438","https://openalex.org/W2740067181","https://openalex.org/W2783807078","https://openalex.org/W2788182113","https://openalex.org/W2790714149","https://openalex.org/W2803800840","https://openalex.org/W2806328197","https://openalex.org/W2808691632","https://openalex.org/W2810673595","https://openalex.org/W2901051822","https://openalex.org/W2904234203","https://openalex.org/W2904846502","https://openalex.org/W2913647692","https://openalex.org/W2916044380","https://openalex.org/W2938389781","https://openalex.org/W2961179960","https://openalex.org/W3004743265","https://openalex.org/W3021558206","https://openalex.org/W3080426079","https://openalex.org/W3120584755","https://openalex.org/W3121737815","https://openalex.org/W3122009921","https://openalex.org/W3122790390","https://openalex.org/W3123200913","https://openalex.org/W3123648879","https://openalex.org/W3123689740","https://openalex.org/W3123753159","https://openalex.org/W3124983317","https://openalex.org/W3125388275","https://openalex.org/W3139108786","https://openalex.org/W4235682417","https://openalex.org/W4251853468"],"related_works":["https://openalex.org/W2027393005","https://openalex.org/W7139776080","https://openalex.org/W2303940167","https://openalex.org/W3173643411","https://openalex.org/W7172513713","https://openalex.org/W7168188992","https://openalex.org/W3095848228","https://openalex.org/W3124381821","https://openalex.org/W2294263453","https://openalex.org/W2115391125"],"abstract_inverted_index":{"The":[0,57],"study":[1],"investigates":[2],"the":[3,31,60,99],"effect":[4],"of":[5,27,39,68,101],"financial":[6,40,69,75,102],"development":[7,41,70,76],"on":[8,71],"major":[9],"economic":[10,13,72],"indicators,":[11],"i.e.,":[12,44],"growth,":[14],"inflation,":[15],"and":[16,51,54,64,85,97],"employment":[17,86],"by":[18],"applying":[19],"System":[20],"GMM":[21],"estimation":[22],"technique":[23],"for":[24,30],"a":[25],"panel":[26],"120":[28],"countries":[29],"period":[32],"1997":[33],"to":[34,79,95,104,114,117],"2017.":[35],"Four":[36],"distinct":[37],"proxies":[38],"are":[42],"used,":[43],"private":[45],"sector":[46],"credit,":[47],"liquid":[48],"liabilities,":[49],"money":[50],"quasi":[52],"money,":[53],"bank":[55],"credit.":[56],"results":[58],"contradict":[59],"traditional":[61],"supply-lending":[62],"hypothesis":[63],"reveal":[65],"negative":[66],"impact":[67],"growth.":[73,87],"Moreover,":[74],"is":[77,89,93],"found":[78],"be":[80,115],"positively":[81],"associated":[82],"with":[83],"inflation":[84],"It":[88],"suggested":[90],"that":[91],"there":[92],"need":[94],"reform":[96],"strengthen":[98],"supervision":[100],"intermediaries":[103],"ensure":[105],"sound":[106],"prudential":[107],"lending":[108],"practices.":[109],"Furthermore,":[110],"more":[111],"credit":[112],"needs":[113],"allocated":[116],"highly":[118],"productive":[119],"firms.":[120]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":20},{"year":2024,"cited_by_count":27},{"year":2023,"cited_by_count":25},{"year":2022,"cited_by_count":13}],"updated_date":"2026-11-13T13:42:25.865203","created_date":"2021-10-25T00:00:00"}
