FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: LITERATURE SURVEY AND EMPIRICAL EVIDENCE FROM SUB-SAHARAN AFRICAN COUNTRIES

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dc.authoridOzturk, Ilhan/0000-0002-6521-0901
dc.contributor.authorAcaravci, Songul Kakilli
dc.contributor.authorOzturk, Ilhan
dc.contributor.authorAcaravci, Ali
dc.date.accessioned2025-03-07T20:12:54Z
dc.date.available2025-03-07T20:12:54Z
dc.date.issued2009
dc.departmentÇağ Üniversitesi
dc.description.abstractIn this paper we review the literature on the finance-growth nexus and investigate the causality between financial development and economic growth in sub-Saharan Africa for the period 1975-2005. Using panel co-integration and panel GMM estimation for causality, the results of the panel co-integration analysis provide evidence of no long-run relationship between financial development and economic growth. The empirical findings in the paper show a bi-directional causal relationship between the growth of real GDP per capita and the domestic credit provided by the banking sector for the panels of 24 sub-Saharan African countries. The findings imply that African countries can accelerate their economic growth by improving their financial systems and vice versa.
dc.identifier.endpage27
dc.identifier.issn2222-3436
dc.identifier.issue1
dc.identifier.startpage11
dc.identifier.urihttps://hdl.handle.net/20.500.12507/2806
dc.identifier.volume12
dc.identifier.wosWOS:000264712700002
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.language.isoen
dc.publisherAosis
dc.relation.ispartofSouth African Journal of Economic and Management Sciences
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_WoS_20241226
dc.subjectFinancial development
dc.subjectgrowth
dc.subjectpanel causality
dc.subjectsub-Saharan Africa
dc.titleFINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: LITERATURE SURVEY AND EMPIRICAL EVIDENCE FROM SUB-SAHARAN AFRICAN COUNTRIES
dc.typeArticle

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