Financial depth, internet penetration rates and economic growth: country-panel evidence

References

• Arvin, B. M., and R. P. Pradhan. 2014. “Broadband Penetration and Economic Growth Nexus: Evidence from Cross-Country Panel Data.” Applied Economics 46: 4360–4369. doi:10.1080/00036846.2014.957444.
   Web of Science ®Google Scholar
• Calderon, C., and L. Liu. 2003. “The Direction of Causality between Financial Development and Economic Growth.” Journal of Development Economics 72: 321–334.
   Web of Science ®Google Scholar
• Chaiechi, T. 2012. “Financial Development Shocks and Contemporaneous Feedback Effect on Key Macroeconomic Indicators: A Post Keynesian Time Series Analysis.” Economic Modelling 29: 487–501.
   Web of Science ®Google Scholar
• Choi, C., and M. H. Yi. 2009. “The Effect of the Internet on Economic Growth: Evidence from Cross-country Panel Data.” Economic Letters 105: 39–41.
   Web of Science ®Google Scholar
• Choi, I. 2001. “Unit Root Tests for Panel Data.” Journal of International Money and Finance 20: 249–272.
   Web of Science ®Google Scholar
• Darrat, A. F., K. Elkhal, and B. McCallum. 2006. “Finance and Macroeconomic Performance: Some Evidence from Emerging Markets.” Emerging Markets Finance and Trade 42: 5–28.
   Web of Science ®Google Scholar
• Dolado, J. J., and H. Lütkepohl. 1996. “Making Wald Tests Work for Cointegrated VAR Systems.” Econometric Reviews 15: 369–386. doi:10.1080/07474939608800362.
   Google Scholar
• Dritsakis, N., and A. Adamopoulos. 2004. “Financial Development and Economic Growth in Greece: An Empirical Investigation with Granger Causality Analysis.” International Economic Journal 18: 547–559. doi:10.1080/1016873042000299981.
   Google Scholar
• Elbahnasaw, N. G. 2014. “E-Government, Internet Adoption, and Corruption: An Empirical Investigation.” World Development 57: 114–126. doi:10.1016/j.worlddev.2013.12.005.
   Web of Science ®Google Scholar
• Feng, G. C. 2015. “Factors Affecting Internet Diffusion in China: A Multivariate Time Series Analysis.” Telematics and Informatics 32: 681–693. doi:10.1016/j.tele.2015.02.009.
   Web of Science ®Google Scholar
• Freund, C. L., and D. Weinhold. 2004. “The Effect of the Internet on International Trade.” Journal of International Economics 62: 171–189. doi:10.1016/S0022-1996(03)00059-X.
   Web of Science ®Google Scholar
• G-8 (2000). Okinawa Charter on Global Information Society. Ministry of Foreign Affairs of Japan. http://www.mofa.go.jp/policy/economy/summit/2000/documents/charter.html
   Google Scholar
• Goldman, S. (2007). BRICS and Beyond. Goldman Sachs Global Economics Group. http://www.goldmansachs.com/japan/ideas/brics/book/BRIC-Full.pdf.
   Google Scholar
• Guillén, M., and S. Suárez. 2001. “Developing the Internet: Entrepreneurship and Public Policy in Ireland, Singapore, Argentina and Spain.” Telecommunications Policy 25: 349–371. doi:10.1016/S0308-5961(01)00009-X.
   Web of Science ®Google Scholar
• Hinson, R. E., and C. K. D. Adjasi. 2009. “The Internet and Export: Some Cross-Country Evidence from Selected African Countries.” Journal of Internet Commerce 8: 309–324. doi:10.1080/15332860903467730.
   Google Scholar
• Holtz- Eakin, D., W. Newey, and H. S. Rosen. 1988. “Estimating Vector Auto Regressions with Panel Data.” Econometrica 56: 1371–1395. doi:10.2307/1913103.
   Web of Science ®Google Scholar
• Im, K. S., M. H. Pesaran, and Y. Shin. 2003. “Testing for Unit Roots in Heterogeneous Panels.” Journal of Econometrics 115: 53–74. doi:10.1016/S0304-4076(03)00092-7.
   Web of Science ®Google Scholar
• Indjikian, R., and D. Siegel. 2005. “The Impact of Investment in IT on Economic Performance: Implications for Developing Countries.” World Development 33: 681–700. doi:10.1016/j.worlddev.2005.01.004.
   Web of Science ®Google Scholar
• Jedidia, K. B., T. Boujelbène, and K. Helali. 2014. “Financial Development and Economic growth: New Evidence from Tunisia.” Journal of Policy Modeling 36: 883–898. doi:10.1016/j.jpolmod.2014.08.002.
   Web of Science ®Google Scholar
• Jin, S., and C. M. Cho. 2015. “Is ICT a New Essential for National Economic Growth in an Information Society?.” Government Information Quarterly 32: 253–260.
   Web of Science ®Google Scholar
• Kamel, S., D. Rateb, and M. El-Tawil. 2009. “The Impact of ICT Investments on Economic Development in Egypt.” Electronic Journal on Information Systems in developing Countries 36: 1–21.
   Google Scholar
• Kenney, G. 1995. “The Missing Link – Information.” Information Technology for Development 6: 33–38. doi:10.1080/02681102.1995.9525254.
   Google Scholar
• Kenny, C. 2002. “Information and Communication Technologies for Direct Poverty alleviation: Costs and Benefits.” Development Policy Review 20: 141–157. doi:10.1111/dpr.2002.20.issue-2.
   Google Scholar
• Kenny, C. 2003. “The Internet and Economic Growth in Less-developed Countries: A Case of Managing Expectations?.” Oxford Development Studies 31: 99–113. doi:10.1080/1360081032000047212.
   Google Scholar
• Kirkman, G., P. Cornelius, J. Sachs, and K. Schwab (2002). The Global Information Technology Report 2001–2002. Oxford University Press, New York.
   Google Scholar
• Levine, A., C.-F. Lin, and C.-S. Chu. 2002. “Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties.” Journal of Econometrics 108: 1–24. doi:10.1016/S0304-4076(01)00098-7.
   Web of Science ®Google Scholar
• Maddala, G. S., and S. Wu. 1999. “A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test.” Oxford Bulletin of Economics and Statistics 61: 631–652. doi:10.1111/obes.1999.61.issue-S1.
   PubMed Web of Science ®Google Scholar
• Pedroni, P. 1999. “Critical values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors.” Oxford Bulletin of Economics and Statistics 61: 653–670. doi:10.1111/obes.1999.61.issue-S1.
   Web of Science ®Google Scholar
• Penard, T., N. Poussing, B. Mukoko, and G. B. T. Piaptie. 2015. “Internet Adoption and Usage Patterns in Africa: Evidence from Cameroon.” Technology in Society 42: 71–80. doi:10.1016/j.techsoc.2015.03.004.
   Web of Science ®Google Scholar
• Pradhan, R. P., B. M. Arvin, N. R. Norman, and Y. Nishigaki. 2014. “Does Banking Sector Development Affect Economic Growth and Inflation? A Panel Cointegration and Causality Approach.” Applied Financial Economics 24: 465–480. doi:10.1080/09603107.2014.881968.
   Google Scholar
• Pradhan, R. P., M. B. Arvin, S. Bahmani, and N. R. Norman. 2014. “Telecommunications Infrastructure and Economic Growth: Comparative Policy Analysis for the G-20 Developed and Developing Countries.” Journal of Comparative Policy Analysis: Research and Practice 16: 401–423. doi:10.1080/13876988.2014.960227.
   Web of Science ®Google Scholar
• Pradhan, R. P., M. B. Arvin, and J. H. Hall. forthcoming. “Economic Growth, Development of Telecommunications Infrastructure, and Financial Development in Asia, 1991–2012.” Quarterly Review of Economics and Finance. doi:10.1016/j.qref.2015.06.008.
   Google Scholar
• Pradhan, R. P., M. B. Arvin, and N. R. Norman. 2015. “The Dynamics of Information and Communications Technologies Infrastructure, Economic Growth, and Financial Development: Evidence from Asian Countries.” Technology in Society 42: 135–149. doi:10.1016/j.techsoc.2015.04.002.
   Web of Science ®Google Scholar
• Pradhan, R. P., S. Bele, and S. Pandey. 2013. “Internet-Growth Nexus: Evidence from Cross-Country Panel Data.” Applied Economics Letters 20: 1511–1515. doi:10.1080/13504851.2013.829170.
   Web of Science ®Google Scholar
• Samargandi, N., J. Fidrmuc, and S. Ghosh. 2015. “Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries.” World Development 68: 66–81. doi:10.1016/j.worlddev.2014.11.010.
   Web of Science ®Google Scholar
• Steinmueller, W. 2001. “ICTs and the Possibilities for Leapfrogging by Developing Countries.” International Labour Review 140: 193–210. doi:10.1111/ilr.2001.140.issue-2.
   Web of Science ®Google Scholar
• Thatcher, M., and J. Oliver. 2001. “The Impact of Technology Investments on a Firm’s Production Efficiency, Product Quality and Productivity.” Journal of Management Information Systems 18: 71–89.
   Web of Science ®Google Scholar
• Wolde-Rufael, Y. 2009. “Re-Examining the Financial Development and Economic Growth Nexus in Kenya.” Economic Modelling 26: 1140–1146. doi:10.1016/j.econmod.2009.05.002.
   Web of Science ®Google Scholar
• Yıldırım, E., D. Sukruoglu, and A. Aslan. 2014. “Energy Consumption and Economic Growth in the Next 11 Countries: The Bootstrapped Autoregressive Metric Causality Approach.” Energy Economics 44: 14–21. doi:10.1016/j.eneco.2014.03.010.
   Web of Science ®Google Scholar