Financial Development and Unemployment in Emerging Market Economies

Bayar Yilmaz ()
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Bayar Yilmaz: Faculty of Economics and Administrative Sciences, Usak University, Turkey

Scientific Annals of Economics and Business, 2016, vol. 63, issue 2, 237-245

Abstract: Financial sector has experienced significant expansion together with accelerating financial globalization in recent years and had important positive and negative economic implications for all the economies. This study investigates the interaction among unemployment, financial development and domestic investment in 16 emerging market economies during 2001-2014 period using panel data analysis. We found that there was long relationship among the variables and domestic investment had negative impact on the unemployment, while financial development had no significant impact on the unemployment. Furthermore, there was unidirectional causality from development of financial sector to unemployment.

Keywords: financial development; gross capital formation; unemployment; panel data analysis (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:aicuec:v:63:y:2016:i:2:p:237-245:n:8

DOI: 10.1515/saeb-2016-0119

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