Pertumbuhan dan Perkembangan Gravitasi Dalam Keuangan Internasional dan Resiko Kredit Negara G20

Abstract

An adequate level of basic financial knowledge of the population contributes to individual well-being, ensuring the stability of financial markets and the proper functioning of the economy. Recently, the literature has examined the institutional and infrastructure development aspects of growth. Despite the econometric difficulties encountered, there is an emerging consensus about the role of the financial sector in growth. The gravity specifications are very similar to those developed for estimating international financial frictions and performing comparative statics analysis with respect to changes in these frictions. This paper aims to identify financial literacy as well as the growth and development of gravity in international finance within the scope of the G20 Countries. The data collection method used is an approximate dynamic panel technique which is able to provide additional evidence from previous papers. The results of this study indicate that financial literacy, growth and development in G20 countries, especially Romania, are at a low level. So that it can challenge Romanian policy makers to develop effective financial education tools and programs, which aim to increase financial awareness and financial literacy of the population. Keywords: financial literacy, economic development, financial development, Romania, European Union