تأثیرات غیرخطی شمول مالی بر ثبات مالی: مطالعه موردی کشورهای منتخب منطقه منا

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانشجوی دکتری رشته اقتصاد، واحد اصفهان (خوراسگان)، دانشگاه آزاد اسلامی، اصفهان، ایران

2 دانشیار اقتصاد، واحد اصفهان (خوراسگان)، دانشگاه آزاد اسلامی، اصفهان، ایران

3 استادیار اقتصاد، واحد اصفهان (خوراسگان)، دانشگاه آزاد اسلامی، اصفهان، ایران

10.48308/jem.2024.234842.1899

چکیده

نقش انکارناپذیر بانک‌ها در تجمیع و تخصیص منابع مالی زمانی امکان پذیر و پایدار است که بانک‌ها از ثبات مالی برخوردار باشند؛ به ویژه زمانی که با بحران‌های مالی روبه‌رو می‌شوند. یکی از عوامل مهم و اثرگذار بر ثبات مالی، معیار شمول مالی است. مطالعات قبلی بیشتر به پیامدهای اقتصادی مثبت توسعه شمول مالی توجه می‌کنند و تأثیر منفی بالقوه آن را ناشناخته می‌گذارند. سوال اصلی در این تحقیق این است که آیا توسعه شمول مالی، ثبات مالی را تضعیف می‌کند یا خیر. برای این منظور از داده‌های 11 کشور منتخب منطقه منا طی دوره زمانی 2001 تا 2022 به روش داده‌های تابلویی استفاده شد. نتایج تحقیق از وجود رابطه U شکل معکوس بین شمول مالی و ثبات مالی حمایت می‌کند. همچنین مشاهده شد مقررات مالی تأثیر تعدیل کننده بر رابطه بین شمول مالی و ثبات مالی در کشورهای مورد بررسی داشت. بر اساس این نتایج، توصیه می‌شود سیاست گذاران پولی و مالی در کشورهای مورد بررسی تلاش نمایند تا شمول مالی به یک سطح متناسب برسد و ضمن افزایش ثبات مالی، در پیش بینی بحران‌های مالی نقش آفرینی داشته باشد.

کلیدواژه‌ها

عنوان مقاله [English]

The Non-Linear Effects of Financial Inclusion on Financial Stability: A Case Study of Selected Countries in the MENA Region

نویسندگان [English]

  • Niloufar Khatami 1
  • Hossein Sharifi Renani 2
  • Bahar Hafezi 3
1 PhD Candidate in Economics, Isfahan Branch (Khorasgan), Islamic Azad University, Isfahan, Iran
2 Associate Professor of Economics, Isfahan Branch (Khorasgan), Islamic Azad University, Isfahan, Iran
3 Associate Professor of Economics, Isfahan Branch (Khorasgan), Islamic Azad University, Isfahan, Iran
چکیده [English]

The role of banks in accumulating and allocating financial resources is possible and sustainable when banks have financial stability; especially when they face financial crises. One of the important and influencing factors on financial stability is the measure of financial inclusion. Previous studies focus more on the positive economic consequences of financial inclusion development and leave its potential negative impact. The main question in this research is whether the development of financial inclusion undermines financial stability or not. For this purpose, the data of 11 selected countries of MENA region from the period 2001 to 2022 were used by panel data method. The research results support the existence of an inverted U-shaped relationship between financial inclusion and financial stability. It was also observed that financial regulations had a moderating effect on the relationship between financial inclusion and financial stability. Based on these results, it is recommended that monetary and financial policymakers in the countries under review try to reach a proportionate level of financial inclusion and, while increasing financial stability, pay attention in predicting financial crises.

کلیدواژه‌ها [English]

  • Financial Crisis
  • Financial Inclusion
  • Financial Stability

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