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The paper employs cointegration, Fully-Modified Ordinary Least Squares (FMOLS), error correction and the Generalized Method of Moments (GMM) techniques to investigate the relationship between economic growth and financial development using annual time series data (1971-2010) from Ghana. Three...
Persistent link: https://www.econbiz.de/10013063972
The employment of financial development indicators without due consideration to country/regional specific financial development realities remains an issue of substantial policy relevance. Financial depth in the perspective of money supply is not equal to liquid liabilities in every development...
Persistent link: https://www.econbiz.de/10011409823
in the structural relations between varied causative factors is more pronounced in Africa where conditions for growth and … determinant of financial development in Africa could have culminated into the misalignment of the continent financialisation … reach conclusions that can redefine policy and research on Africa's financialisation objectives. We compared result along …
Persistent link: https://www.econbiz.de/10012603080
Purpose - The purpose of this study is to empirically examine the impact of financial development on poverty reduction in Egypt. The paper also investigates whether financial development affects poverty via gross domestic product (GDP) growth. Design/methodology/approach - This study uses the...
Persistent link: https://www.econbiz.de/10012156882
of twenty countries in sub-Sahara Africa (SSA).Employing the System Generalized Method of Moments (GMM), the following …
Persistent link: https://www.econbiz.de/10012242055
remains mostly underdeveloped. The altruistic motives of sending remittances to Africa are likely to fade with time. In this … financial development in Africa. The result further revealed that the exchange rate negatively influences financial development … in Africa. Based on the findings, it is suggested that, while attracting migrants' transfers which can have significant …
Persistent link: https://www.econbiz.de/10012603078
The study investigated the relationship among remittances, financial development and economic growth in a panel of 20 sub-Saharan African countries over the period of 2000 and 2015. The study used both Pooled Mean Group and Mean Group/ARDL estimations with panel unit root and cointegration...
Persistent link: https://www.econbiz.de/10012265886
remittances are not statistically significant in promoting inclusive growth in Africa. Notably, across the economic growth and …, they deepen the latter. Second, we find that Africa's underdeveloped financial sector dampens the marginal positive effect … with complementary policies to foster inclusive growth in Africa, a minimum threshold of 14.5% is required. We conclude by …
Persistent link: https://www.econbiz.de/10014265891
The objective of this paper is to investigate the empirical relationship between capital account liberalization and economic growth in three Maghreb countries (Algeria, Mo- rocco, and Tunisia) using the GMM technique. The study of this relationship has al- ways been of particular interest...
Persistent link: https://www.econbiz.de/10009672306
A growing body of post-global financial crisis (2007-2008) literature documents several undesirable effects of enlarged financial sectors. One of these effects is the 'growth cost' of excessive finance, which reports that the finance-growth relationship is non-monotonic, and that a credit...
Persistent link: https://www.econbiz.de/10014434822