FINANCE-GROWTH NEXUS IN AFRICA: A PANEL GENERALIZED METHOD OF MOMENTS (GMM) ANALYSIS
Journal Title: Asian Economic and Financial Review - Year 2013, Vol 3, Issue 10
Abstract
The paper uses the dynamic GMM Model to examine the finance-growth nexus with panel data (1981-2010) from 24 African countries. Evidence suggests that there is a positive relationship between finance and economic growth and that there is a bi-directional causal relationship between finance and economic growth. To the extent that financial development and economic growth Granger-cause each other, we assert that policies directed at any of the two , if efficiently and vigorously pursued, could be beneficial to the study countries.
Authors and Affiliations
Michael Adusei| Kwame Nkrumah University of Science and Technology, Kumasi-Ghana
Keywords
Related Articles
- EP ID EP1963
- DOI -
- Views 429
- Downloads 29
AN EMPIRICAL ANALYSIS OF EFFECTIVE CUSTOMERS SERVICE ON NIGERIA BANKS PROFITABILITY. (A QUEUING AND REGRESSION APPROACH)
This study investigates the impact of various elements of customer services adopted by some Nigerians banks to improve bank profitability in the Nigerian banking industry. It examines the mean profit and how each of the...
TEST OF THE BANK LENDING CHANNEL FOR A BRICS COUNTRY
Based on a simultaneous-equation model of loan demand and loan supply and applying the three-stage least squares method, this paper finds that loan demand is negatively affected by the lending rate and positively associa...
MICROLOANS AND AGRICULTURAL SECTOR INCOMES IN DEVELOPING COUNTRIES: AN EMPIRICAL STUDY OF THE PRU DISTRICT IN GHANA
The agricultural sector of developing countries continues to contribute significantly to Gross Domestic Product. However, majority of actors in the sector remain low income earners and inequality exacerbates. Several int...
THE IMPACT OF LIFE EXPECTANCY ON ECONOMIC GROWTH IN DEVELOPING COUNTRIES
Will the improvement of life expectancy contributes to economic growth in a country? The response to this question is essential in the debates on health policy in the world in general and in developing countries (DC) in...
ECONOMIC AND SOCIAL DUALITY IN IRAN (USING FUZZY TOPSIS DECISION-MAKING)
One of the planners and policy-makers? aims on the one hand is optimum allocating and distributing of credits and facilities among regions and on the other hand is providing and compiling a suitable model aiming at achie...