Liu Lingcai, Bashir Taqadus, Abdalla Alaa Amin, Salman Asma, Ramos-Meza Carlos Samuel, Jain Vipin, Shabbir Malik Shahzad
School of Accountancy, Anhui University of Finance and Economics, Bengbu, China.
National Skills University, Islamabad, Pakistan.
Environ Dev Sustain. 2022 Dec 31:1-13. doi: 10.1007/s10668-022-02867-6.
This study tests the Post-Keynesian theory regarding bank stock returns and money supply endogeneity in the context of South Asian countries. This study uses panel data set from different sources over twenty-eight (28) years. The research uses different econometric techniques before switching to the generalized method of moments (GMM). The empirical results indicate a significant positive effect of net interest rate margins on bank loans in South Asian countries, whereas a positive relationship exists between foreign to local interest rates and the money supply. The findings depict that positive associations exist between inflation and money supply of banks, and between the money supply and bank stock returns. More specifically, the GMM results show that the money supply has positively affected the stock prices of banks suggesting strong policies for the stakeholders of these economies for the sake of economic growth and sustainable development.
本研究在南亚国家的背景下检验了后凯恩斯主义关于银行股票回报和货币供应内生性的理论。本研究使用了来自不同来源的长达28年的面板数据集。在转向广义矩方法（GMM）之前，该研究使用了不同的计量经济学技术。实证结果表明，在南亚国家，净息差对银行贷款有显著的正向影响，而外国与本地利率和货币供应之间存在正相关关系。研究结果表明，通货膨胀与银行货币供应之间、货币供应与银行股票回报之间存在正相关关系。更具体地说，GMM结果表明，货币供应对银行股价有正向影响，这表明为了经济增长和可持续发展，应为这些经济体的利益相关者制定强有力的政策。
