Financial development and economic growth: Literature survey and empirical evidence from sub-Saharan African countries

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dc.contributor.authorAcaravci, S.K.
dc.contributor.authorÖztürk, İlhan
dc.contributor.authorAcaravci, A.
dc.date.accessioned12.07.201910:50:10
dc.date.accessioned2019-07-12T15:25:49Z
dc.date.available12.07.201910:50:10
dc.date.available2019-07-12T15:25:49Z
dc.date.issued2009
dc.departmentMeslek Yüksekokuluen_US
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.en_US
dc.identifier.endpage27en_US
dc.identifier.issn1015-8812
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-77949947465
dc.identifier.scopusqualityQ2
dc.identifier.startpage11en_US
dc.identifier.urihttps://hdl.handle.net/20.500.12507/465
dc.identifier.volume12en_US
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherAOSIS (pty) Ltden_US
dc.relation.ispartofSouth African Journal of Economic and Management Sciences
dc.relation.publicationcategoryDiğeren_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectFinancial developmenten_US
dc.subjectGrowthen_US
dc.subjectPanel causalityen_US
dc.subjectSub-Saharan Africaen_US
dc.titleFinancial development and economic growth: Literature survey and empirical evidence from sub-Saharan African countries
dc.typeReview Article

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