Artikel
Impact of financial development on economic growth in the WAMZ: A heterogeneous panel data approach
This paper investigates the impact of financial development on economic growth in the West African Monetary Zone (WAMZ) from 1990 through 2015 using a Heterogeneous Panel Data Approach. The study made use of Two (2) financial indicators: liquid liabilities of the financial system as a percent of GDP and domestic credit to private sector as a percent of GDP. Economic growth is proxied by the real GDP per capita. Our results show that while liquid liabilities exerts long-run positive impact on economic growth in the WAMZ, the positive impact of domestic credit to private sector on economic growth is not in the long run. At country level, our findings indicate that most countries in the WAMZ could foster long run economic growth through changes in the size of financial institutions. Our findings suggest that structural reforms are needed in order to channel private credit to long run productive and growth-driving sectors
- Sprache
-
Englisch
- Erschienen in
-
Journal: West African Journal of Monetary and Economic Integration ; ISSN: 0855-594X ; Volume: 17 ; Year: 2017 ; Issue: 1 ; Pages: 1-18 ; Accra: West African Monetary Institute (WAMI)
Klassifikation
Wirtschaft
Multiple or Simultaneous Equation Models: Panel Data Models; Spatio-temporal Models
General Financial Markets: General (includes Measurement and Data)
Macroeconomic Analyses of Economic Development
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Multiple or Simultaneous Equation Models: Panel Data Models; Spatio-temporal Models
General Financial Markets: General (includes Measurement and Data)
Macroeconomic Analyses of Economic Development
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Thema
Economic growth
Finance
Panel Data
WAMZ
Finance
Panel Data
WAMZ
Ereignis
Geistige Schöpfung
(wer)
Diallo, Ibrahima
Mendy, Isatou
Mendy, Isatou
Ereignis
Veröffentlichung
(wer)
West African Monetary Institute (WAMI)
(wo)
Accra
(wann)
2017
- Handle
- Letzte Aktualisierung
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20.09.2024, 08:20 MESZ
Objekttyp
- Artikel
Beteiligte
- Diallo, Ibrahima
- Mendy, Isatou
- West African Monetary Institute (WAMI)
Entstanden
- 2017
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