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Title “The Impact of Financial Development and ICT on Total Factor Productivity: A Panel Analysis of BRI Countries”

Author(s) Ms. Aysha Bibi

Abstract In this study, we have analyzed the TFP growth in 45 low and middle-income BRI countries. BRI low and middle-income countries have low TFP growth due to many factors. Long-term output growth is significantly influenced by the development of total factor productivity (TFP) in the country. Several determinants have an impact on TFP growth, but this study is specifically examining the impact of ICT and FD on TFP growth. We have also used some control variables which include FDI, Trade, and institutional quality index. The study used the GMM, a dynamic panel data analysis technique, with data from the years 2000 to 2020. Our results found a significant relationship between ICT and TFP. ICT advancements and innovations facilitate economic activities and have improved economic performance. FD and TFP have also shown positive and significant results, which show that financial growth can lower capital expenses and financial risk. FDI and institutional quality index have also a positive association with TFP growth. Only the trade sector has shown negative results, which shows that imports are higher than exports in these countries, also exports are low mainly due to the quality of the exports. Keywords: Total Factor Productivity, Financial Development, Information and Communication Technology, Generalized Method of Moments

Type Thesis/Dissertation

Faculty Management Sciences

Department Economics

Language English

Publication Date 2023-07-07

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