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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

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.

References

  • Aghaee, Majid , Assari Arani,Abbas (2008). “Effects of ICT on Economic Growth of OPEC Members”. Journal of Economic Research,No. 8, pp.63-82.
  • Allen, Franklin, McAndrews, James and Strahan, Philip (2001), “ E-Finance: An Introduction”, Financial Institutions Center working paper, The Wharton School, University of Pennsylvania.
  • Claessens, Stijn, Glaessner, Thomas ,Klingebiel, Daniela (2002), “Electronic Finance: A New Approach to Financial Sector Development” , The World Bank Discussion Paper431, The world Bank, Washington DC.
  • Estache, Antonio, Marianella González and Lourdes Trujillo (2002), “What Does ‘Privatization’ Do for Efficiency? Evidence from Argentina’s and Brazil’s Railways”, World Development, Vol. 30, No. 11, pp.1885-1897.
  • Fuatai,Purcell, Toland, Janet (2003), “E-Finance For Development: Global Trends, National Experience And SMEs”, The Electronic Journal on Information Systems in Developing Countries, Vol. 1, No. 6, pp. 1-4.
  • Levine, Ross,LOayze, Norman, Beck, Thorsten (2000),” Financial Intermediation And Growth: Causality And Causes "Journal of Monetary Economics,Vol. 46,pp.31-77.
  • Nsouli, Saleh, Schaechter, Andrea, (2002)“Challenges of E-Banking Revolution”, Finance and Development Journal, Vol. 39, No. 3.
  • Mehrara, Mohsen, Talakesh, Hossein (2009), “The Relationship Between Financial Development And Economic Growth In Selected Countries Using Dynamic Panel Data”, Journal of Knowledge and Development, Vol. 16, No. 11.
  • Mahmoodzadeh, Mahmood (2007) , “Modern economy and Iran's position”, Journal of Parliament and Research, No 55. pp. 47-82. Papaioannou, Sotiris K. (2004). “ FDI and ICT Innovation Effect on Productivity Growth: A Comparison between Developing and Developed Countries” , Athens University of Economics and Business.
  • Petersen, Mitchell A. and Rajan, Raghuram G.(2001), “Does Distance Still Matter?, The Information Revolution In Small Business Lending”, mimeo, March. Qureshi, Sajda(2005),“ How Does Information Technology Effect Development? Integrating Theory and Practice in to a Process Model” Proceeding of the 11thAmericans Conference on Information Systems, pp.500-509.
  • Shamim, Farkhanda (2007), “The ICT Environment, Financial Sector and Economic Growth: ACross-Country Analysis”, Journal of Economic Studies, Emerrald Group Publishing,Vol. 34(4), pp.352-370.

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

Monireh Dizaji Naghmeh Sharifi Fahimeh Esmaeli Mina Mahjoub Laleh

Abstract

References

  • Aghaee, Majid , Assari Arani,Abbas (2008). “Effects of ICT on Economic Growth of OPEC Members”. Journal of Economic Research,No. 8, pp.63-82.
  • Allen, Franklin, McAndrews, James and Strahan, Philip (2001), “ E-Finance: An Introduction”, Financial Institutions Center working paper, The Wharton School, University of Pennsylvania.
  • Claessens, Stijn, Glaessner, Thomas ,Klingebiel, Daniela (2002), “Electronic Finance: A New Approach to Financial Sector Development” , The World Bank Discussion Paper431, The world Bank, Washington DC.
  • Estache, Antonio, Marianella González and Lourdes Trujillo (2002), “What Does ‘Privatization’ Do for Efficiency? Evidence from Argentina’s and Brazil’s Railways”, World Development, Vol. 30, No. 11, pp.1885-1897.
  • Fuatai,Purcell, Toland, Janet (2003), “E-Finance For Development: Global Trends, National Experience And SMEs”, The Electronic Journal on Information Systems in Developing Countries, Vol. 1, No. 6, pp. 1-4.
  • Levine, Ross,LOayze, Norman, Beck, Thorsten (2000),” Financial Intermediation And Growth: Causality And Causes "Journal of Monetary Economics,Vol. 46,pp.31-77.
  • Nsouli, Saleh, Schaechter, Andrea, (2002)“Challenges of E-Banking Revolution”, Finance and Development Journal, Vol. 39, No. 3.
  • Mehrara, Mohsen, Talakesh, Hossein (2009), “The Relationship Between Financial Development And Economic Growth In Selected Countries Using Dynamic Panel Data”, Journal of Knowledge and Development, Vol. 16, No. 11.
  • Mahmoodzadeh, Mahmood (2007) , “Modern economy and Iran's position”, Journal of Parliament and Research, No 55. pp. 47-82. Papaioannou, Sotiris K. (2004). “ FDI and ICT Innovation Effect on Productivity Growth: A Comparison between Developing and Developed Countries” , Athens University of Economics and Business.
  • Petersen, Mitchell A. and Rajan, Raghuram G.(2001), “Does Distance Still Matter?, The Information Revolution In Small Business Lending”, mimeo, March. Qureshi, Sajda(2005),“ How Does Information Technology Effect Development? Integrating Theory and Practice in to a Process Model” Proceeding of the 11thAmericans Conference on Information Systems, pp.500-509.
  • Shamim, Farkhanda (2007), “The ICT Environment, Financial Sector and Economic Growth: ACross-Country Analysis”, Journal of Economic Studies, Emerrald Group Publishing,Vol. 34(4), pp.352-370.
There are 11 citations in total.

Details

Other ID JA76CP37HM
Journal Section Articles
Authors

Monireh Dizaji This is me

Naghmeh Sharifi This is me

Fahimeh Esmaeli This is me

Mina Mahjoub Laleh This is me

Publication Date December 1, 2012
Submission Date December 1, 2012
Published in Issue Year 2012 Volume: 4 Issue: 2

Cite

APA Dizaji, M., Sharifi, N., Esmaeli, F., Laleh, M. M. (2012). MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES. International Journal of EBusiness and EGovernment Studies, 4(2), 71-80.
AMA Dizaji M, Sharifi N, Esmaeli F, Laleh MM. MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES. IJEBEG. December 2012;4(2):71-80.
Chicago Dizaji, Monireh, Naghmeh Sharifi, Fahimeh Esmaeli, and Mina Mahjoub Laleh. “MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES”. International Journal of EBusiness and EGovernment Studies 4, no. 2 (December 2012): 71-80.
EndNote Dizaji M, Sharifi N, Esmaeli F, Laleh MM (December 1, 2012) MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES. International Journal of eBusiness and eGovernment Studies 4 2 71–80.
IEEE M. Dizaji, N. Sharifi, F. Esmaeli, and M. M. Laleh, “MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES”, IJEBEG, vol. 4, no. 2, pp. 71–80, 2012.
ISNAD Dizaji, Monireh et al. “MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES”. International Journal of eBusiness and eGovernment Studies 4/2 (December 2012), 71-80.
JAMA Dizaji M, Sharifi N, Esmaeli F, Laleh MM. MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES. IJEBEG. 2012;4:71–80.
MLA Dizaji, Monireh et al. “MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES”. International Journal of EBusiness and EGovernment Studies, vol. 4, no. 2, 2012, pp. 71-80.
Vancouver Dizaji M, Sharifi N, Esmaeli F, Laleh MM. MODERN ECONOMY, ELECTRONIC FINANCIAL MARKETS AND ECONOMIC GROWTH IN SELECTED COUNTRIES. IJEBEG. 2012;4(2):71-80.