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Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.]

The study examined the impact of external debt on economic growth in the context of developing countries. Since the level of financial integrity plays a vital role in the growth factor, we also investigated the direct impact of financial integrity (FI) management on economic growth as well as the mo...

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Main Authors: Musa, Kazi, Ali, Norli, Said, Jamaliah, Mohamed, Norhayati, Junaine, Inna
Format: Article
Language:English
Published: Accounting Research Institute (ARI) and UiTM Press, Universiti Teknologi MARA 2022
Subjects:
International finance
Online Access:https://ir.uitm.edu.my/id/eprint/62003/1/62003.pdf
https://www.doi.org/10.24191/APMAJ.V17i3-09
https://ir.uitm.edu.my/id/eprint/62003/
https://apmaj.uitm.edu.my/
https://www.doi.org/10.24191/APMAJ.V17i3-09
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id my.uitm.ir.62003
record_format eprints
spelling my.uitm.ir.620032023-08-01T02:24:48Z https://ir.uitm.edu.my/id/eprint/62003/ Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.] apmaj Musa, Kazi Ali, Norli Said, Jamaliah Mohamed, Norhayati Junaine, Inna International finance The study examined the impact of external debt on economic growth in the context of developing countries. Since the level of financial integrity plays a vital role in the growth factor, we also investigated the direct impact of financial integrity (FI) management on economic growth as well as the moderating role of FI on the nexus between external debt and economic growth. To achieve the goals, we deployed a newly developed econometric approach, the Method of Moment Quantile Regression (MMQR), considering the quantile in both scale and location due to highly heterogeneous panel data from 1990 to 2020. The empirical estimation of the MMQR approach demonstrated that external debt is counterproductive in all quantiles for economic growth in the context of developing countries. Besides, FI management was insignificant in the bottom to top quantiles. Besides, the results also depicted that external debt works better for economic growth by the presence of FI in upper quantiles than the lower quantiles. The findings indicated that external debt is detrimental to economic growth in developing countries, while financial integrity management supports the debt-growth relationship. The study provides several policy implications. Accounting Research Institute (ARI) and UiTM Press, Universiti Teknologi MARA 2022-12 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/62003/1/62003.pdf Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.]. (2022) Asia-Pacific Management Accounting Journal (APMAJ) <https://ir.uitm.edu.my/view/publication/Asia-Pacific_Management_Accounting_Journal_=28APMAJ=29/>, 17 (3): 9. pp. 239-267. ISSN 2550-1631 https://apmaj.uitm.edu.my/ https://www.doi.org/10.24191/APMAJ.V17i3-09 https://www.doi.org/10.24191/APMAJ.V17i3-09
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic International finance
spellingShingle International finance
Musa, Kazi
Ali, Norli
Said, Jamaliah
Mohamed, Norhayati
Junaine, Inna
Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.]
description The study examined the impact of external debt on economic growth in the context of developing countries. Since the level of financial integrity plays a vital role in the growth factor, we also investigated the direct impact of financial integrity (FI) management on economic growth as well as the moderating role of FI on the nexus between external debt and economic growth. To achieve the goals, we deployed a newly developed econometric approach, the Method of Moment Quantile Regression (MMQR), considering the quantile in both scale and location due to highly heterogeneous panel data from 1990 to 2020. The empirical estimation of the MMQR approach demonstrated that external debt is counterproductive in all quantiles for economic growth in the context of developing countries. Besides, FI management was insignificant in the bottom to top quantiles. Besides, the results also depicted that external debt works better for economic growth by the presence of FI in upper quantiles than the lower quantiles. The findings indicated that external debt is detrimental to economic growth in developing countries, while financial integrity management supports the debt-growth relationship. The study provides several policy implications.
format Article
author Musa, Kazi
Ali, Norli
Said, Jamaliah
Mohamed, Norhayati
Junaine, Inna
author_facet Musa, Kazi
Ali, Norli
Said, Jamaliah
Mohamed, Norhayati
Junaine, Inna
author_sort Musa, Kazi
title Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.]
title_short Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.]
title_full Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.]
title_fullStr Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.]
title_full_unstemmed Impact of external debt and financial integrity management on economic growth in developing countries: evidence from the MMQR approach / Kazi Musa … [et al.]
title_sort impact of external debt and financial integrity management on economic growth in developing countries: evidence from the mmqr approach / kazi musa … [et al.]
publisher Accounting Research Institute (ARI) and UiTM Press, Universiti Teknologi MARA
publishDate 2022
url https://ir.uitm.edu.my/id/eprint/62003/1/62003.pdf
https://www.doi.org/10.24191/APMAJ.V17i3-09
https://ir.uitm.edu.my/id/eprint/62003/
https://apmaj.uitm.edu.my/
https://www.doi.org/10.24191/APMAJ.V17i3-09
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score 13.211869

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