چکیده:
The role of financial development on the economy and economic variables is undeniable. The development of financial infrastructures has always been considered an efficient tool for increasing economic growth, reducing poverty, and fair income distribution in the societies in question. In this regard, the aim of this research is to examine the effects of financial development on poverty in ECO member countries based on panel data models during the period 2002 to 2033. The results of various estimated models show that in the first model, financial development has a negative impact on household investment in the studied countries. The results of the second model show that credit allocated to the private sector, as a symbol of financial development, has an inverse effect on the human development index. In the third model, the amount of household investment and the increase in literacy rates in households or the poverty index in the countries has a direct effect. In the fourth model, the results indicate that the industrial value-added index to per capita production for the above countries is positive, and the foreign trade sector index (total exports and imports) on per capita production is negative. In other words, the eight countries of Afghanistan, Uzbekistan, Turkmenistan, and others are in the initial stage of development or domestic economic reconstruction, where government participation is higher.
خلاصه ماشینی:
In this regard, the aim of this research is to investigate the effects of financial development on poverty in ECO member countries based on panel data models during the period 2002 to 2023.
In this regard, in order to test the hypothesis considered in the research, two models were used with panel data during the period: one representing the linear relationship between financial development and income distribution inequality, and the other showing an inverted U-shaped relationship between these two variables.
The results of this empirical study indicate that financial development can play a significant role in reducing poverty and inequality in these countries through its impact on economic growth.
What is expected from the analysis of data and estimation results regarding developing countries is that for every increase in the amount of credit allocated to the private sector or financial development, the level of production and household income should increase, and consequently, households should invest in the level of literacy and 1 -International financial statistics 2 -world development indicators 3 -United nation skills obtained from education.
Table (1): Estimation of the effect of financial development on per capita production (refer to page image) Source: Research results One of the important topics in this discussion is that investment, related policies, and government approaches regarding the granting of credit facilities differ from one country to another.
The results of the first model show that financial development has a negative effect on reducing disabilities and increasing the investment of households in the studied countries in human capital.
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