MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES

Year 2012, Volume: 4 Issue: 2, 71 - 80, 01.12.2012

Monireh Dizaji Naghmeh Sharifi Fahimeh Esmaeli Mina Mahjoub Laleh

https://izlik.org/JA87UW33NC

Abstract

In recent years, information and communication technology (ICT) as a
characteristic of modern economies, has developed greatly and gradually has
affected various economic sectors over the world. Using ICT, more and faster
access to accurate information necessary for activity in financial markets has been
provided. Developed financial markets are essential for the emergence of the
modern economy and also Internet has significant influence on financial services
through high market potential. In this study, the effect of electronic financial
markets on economic growth, in 29 countries, during the period 2003-2008 was
estimated, using panel data and Generalized Methods of Moments (GMM). The
results indicate positive and significant effects of ICT and financial sector
development on economic growth in studied countries.

Keywords

ICT , Electronic Financial Markets , Economic Growth.

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