The finance-growth nexus in Botswana : a multivariate causal linkage

Brian Muyambiri, Nancy Neoyame Chabaefe

This paper evaluates the dynamic causal relationship between financial development, savings, investment and economic growth in Botswana from 1976-2014 by employing a multivariate causality model. Results reveal that it is chiefly investment that drives the bank-related and stock exchange-based financial sectors in the short run. Stock exchange-based financial development drives bank-related financial development and savings in both the short run and the long run. While, savings are found to Granger-cause investment. Economic growth Granger-causes investment and savings, both, in the short run and long run. Further, only bank-related financial development is found to Granger-cause economic growth in Botswana.

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Year of publication:	2018
Authors:	Muyambiri, Brian ; Chabaefe, Nancy Neoyame
Published in:	Dutch journal of finance and management. - [London] : Modestum, ISSN 2542-4750, ZDB-ID 2908820-3. - Vol. 2.2018, 2/03, p. 1-6
Subject:	financial development \| economic growth \| multivariate causality \| Botswana \| Schätzung \| Estimation \| Wirtschaftswachstum \| Economic growth \| Botsuana \| Finanzsektor \| Financial sector \| Kausalanalyse \| Causality analysis \| Entwicklung \| Economic development

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Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	10.20897/djfm/2634 [DOI]
Classification:	E44 - Financial Markets and the Macroeconomy ; G21 - Banks; Other Depository Institutions; Mortgages ; O16 - Financial Markets; Saving and Capital Investment
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012012444