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Register a new userDeterminants Offinancial Development In Syria, Lebanon And Jordan For The Period 1995-2014
محددات التطور المالي في سورية, لبنان و الأردن للفترة ما بين 1995 و 2014
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Tishreen University ورقة بحثية
Publication date
2018
fields
Financial
and research's language is
العربية
Authors
شادي العظمة( باحث )
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Shamra Editor
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بينت الأدبيات الاقتصادية الدور الهام و البارز الذي يلعبه التطور المالي في تحقيق التنمية و النمو الاقتصاديين, من خلال الفعالية في تجميع و تخصيص المدخرات الوطنية باتجاه الاستثمارات الداعمة لمسيرة التطور الاقتصادي. من هنا تكمن أهمية البحث في محددات التطور المالي. تقوم هذه الدراسة على البحث في محددات التطور المالي لكل من سوريا, لبنان و الأردن للفترة ما بين 1995 و 2014, من خلال تطبيق نموذج المربعات الصغرى على مجموعة من المحددات التي تم اعتمادها في الأدبيات الاقتصادية. خلصت الدراسة إلى وجود أثر ذو دلالة إحصائية لثلاثة فقط من أصل تسعة محددات تم اختبارها على مستوى القروض الخاصة المقدمة من قبل المؤسسات المالية (نشاط القطاع المالي). هذه المحددات هي: محاربة الفساد, دعم القرار و الإشراف على المصارف. كما خلصت إلى وجود أثر ذو دلالة إحصائية لخمسة فقط من أصل المحددات التسعة التي تم اختبارها على مستوى الخصوم السائلة (حجم القطاع المالي). المحددات هي: التضخم, مستوى التمركز, دعم القرار, سلطة القانون و الإشراف على المصارف. فالعمل على محاربة الفساد, دعم القرار, تدعيم سلطة القانون, تحسين مستوى الإشراف على المصارف, إضافة إلى العمل على تخفيض معدلات التضخم و مستوى التمركز في القطاع المصرفي, هي من أهم العوامل التي يجب التركيز عليها على المدى الطويل من أجل تحقيق التطور المالي من حيث الحجم و النشاط, ,الذي بدوره يساهم في تحقيق تنمية اقتصادية حقيقية لكل من سوريا و لبنان و الأردن.
Economic literature has shown the important and prominent role of financial development in economic development and growth, through the effective pooling and allocation of national savings towards investments in support of economic development. Hence, it is highly important to look for the real determinants of financial development. This study investigates the determinants of the financial development of Syria, Lebanon and Jordan for the period between 1995 and 2014, by applying the method of Ordinary Least Squares (OLS), to a set of determinants adopted in previous studies. The study found a statistically significant effect of only three of the nine determinants tested on the level of private credit by depository institutions (financial sector activity). It also concludes a statistically significant effect of only five determinants on the level of Liquid Liabilities (financial sector size). The determinants are: inflation, bank concentration, rule of law, control of corruption, contract enforcement and improving supervision of banks. Reforms that contribute in reducing corruption, enforcing contracts, improving the rule of law, improving supervision on banks, reducing the level of inflation and the level of bank concentration, are the most important factors that we need to focus on in the long run, to achieve financial development (size and activity).This in turn contributes to real economic development in Syria, Lebanon and Jordan.
References used
Acaravci, S. K., Ozturk, I. and Acaravci, A. Financial development and economic growth: literature survey and empirical evidence From sub-saharan african countries.South African Journal of Economic and Management Sciences, Vol. 12, No. 1, 2009, 1–17
Barth, J. R., Caprio, G. and Levine, R. Bank regulation and supervision: What works best? Journal of Financial Intermediation, Vol. 13, No. 2, 2004, 205–248
Beck, T. and Levine, R. Stock markets , banks , and growth : Panel evidence.Journal of Banking & Finance, Vol. 28, No. 3, 2004, 423–442
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