作者
Kojo Menyah, Saban Nazlioglu, Yemane Wolde-Rufael
发表日期
2014/2/1
期刊
Economic Modelling
卷号
37
页码范围
386-394
出版商
North-Holland
简介
This paper examines the causal relationship between financial development and economic growth for 21 African countries within a framework which also accounts for international trade. We develop a financial development index based on four different financial development indicators and apply the panel bootstrapped approach to Granger causality. The empirical results show limited support for the finance-led growth and the trade-led growth hypotheses. The results imply that recent attempts at financial development and trade liberalization do not seem to have made a significant impact on growth.
学术搜索中的文章
K Menyah, S Nazlioglu, Y Wolde-Rufael - Economic Modelling, 2014