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Title Impact of financial development, institutional quality and population characteristics on sustainable development: The Moderating Role of Regional Integration

Author(s) Muhammad Asad Saleem

Abstract Abstract The basic purpose of our study to empirically investigate the three independent variables i.e., financial development (FD), institutional quality (IQ) and population characteristics (APL) on sustainable development proxied by adjusted net savings as dependent variable. Furthermore, the moderating effect of regional integration along with controlling variable inflation, current account balance, exchange rate and unemployment are explored in One Belt and One Road (OBOR) countries. The effect and interactions of a large set of variables on sustainable with the moderating effect of regional integration. Which determine what policies, need to spur the sustainable development in a most emerging and economic region of countries. This study utilizes panel data from the longest data set over the period 2005-2020 for 64 One Belt and One Road (OBOR) countries. Empirical research regarding macroeconomics, finance, regional and international fields to back policy decisions. Study used the two-step Sys-dynamic GMM's final model that findings show that financial development (FD) and institutional quality (IQ-WDI) is significant and positive value at 1% significance level which will increase level of sustainable development. The third and last independent variable earning population (APL) coefficient is negative but significant at 5% significance level. The independent variable, FD and Institutional Quality (IQ-ICRG) is positive and significantly impacts on sustainable development significance level. While APL negatively influences the sustainable development at 5% significance level. Additionally, the model is further extended with interaction term of FD and RII. The results of interaction term FD*RII shows the positive coefficient value but not significant. Moreover, the interaction term IQ-WDI*RII shows the positive coefficient value at 5% significance level. The interaction term APL*RII shows the negative coefficient value but not significant

Type Thesis/Dissertation PhD

Faculty Management Sciences

Department Management Sciences

Language English

Publication Date 2025-02-27

Subject Finance

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