Bank-based financial development and economic growth in Ghana: an empirical investigation

2017 ◽  
Vol 9 (4) ◽  
pp. 322
Author(s):  
S. Nyasha ◽  
N.M. Odhiambo
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Empirical Investigation

Financial Development and Economic Growth in Asian Countries: A Panel Empirical Investigation

2020 ◽  
Vol 6 (2) ◽  
pp. 76
Author(s):  
Cher Chen ◽  
GholamReza Zandi Pour ◽  
Edwin R. de Los Reyes
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Quantitative Research ◽  
Empirical Investigation ◽  
Time Frame ◽  
Asian Countries ◽  
African Region ◽  
Dynamic Panel ◽  
Unit Root Testing ◽  
Long Run

This study aimed to evaluate the association of financial development and economic growth by considering the case of 10 Asian countries. The study used quantitative research design where the preliminary testing was conducted using descriptive statistics and unit root testing. The sample size comprised of 10 emerging Asian countries (India, China, Malaysia, Philippines, Pakistan, Thailand, Singapore, Bhutan, Vietnam, and Bangladesh) and the time-frame for the study was 1990 to 2018. The main techniques of analysis were Pedroni cointegration, dynamic panel least squares (DOLS) and Granger Causality. This study concluded that long-run equilibrium existed between financial development and economic growth. The research was limited to the case of Asian countries, therefore, in future, the evaluation of European countries can be conducted or African region can also be undertaken into consideration.

A CONTEMPORARY RE-EXAMINATION OF MALAYSIA’S ECONOMIC GROWTH: THE ISSUES OF EQUITY, EFFICIENCY AND LIBERALIZATION

2017 ◽  
Vol 62 (02) ◽  
pp. 509-530 ◽  
Author(s):  
AZFAR HILMI BAHARUDIN ◽  
YAP SU FEI
Keyword(s):  
Economic Growth ◽  
Income Inequality ◽  
Least Squares ◽  
Financial Development ◽  
Direct Investment ◽  
Positive Relationship ◽  
Empirical Investigation ◽  
Ordinary Least Squares ◽  
Statistical Relationship ◽  
Long Run

This paper is an empirical investigation on economic growth for Malaysia, with focus on income inequality, foreign direct investment (FDI), financial development and trade. Co-integrating regression procedures namely, fully modified ordinary least squares (FMOLS), canonical co-integrating regression (CCR) and dynamic ordinary least squares (DOLS) were employed. Positive relationship between growth with financial development and trade are found to be consistent across all estimations. Income inequality on the other hand though negative, does not seem to exhibit robust significant statistical relationship with growth. The orders of integration for variables used have been demonstrated to be governed such that a long-run relationship prevails.

Remittances, Economic Growth and Poverty: A Case of African OIC Member Countries

2018 ◽  
Vol 57 (2) ◽  
pp. 121-143
Author(s):  
Nasim Shah Shirazi ◽  
Sajid Amin Javed ◽  
Dawood Ashraf
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Poverty Reduction ◽  
Simultaneous Equation ◽  
Equation Model ◽  
Annual Data ◽  
Simultaneous Equation Model ◽  
African Countries ◽  
Alternative Source ◽  
The Impact

This paper investigates the impact of remittance inflows on economic growth and poverty reduction for seven African countries using annual data from 1992-2010. By using the depth of hunger as a proxy for poverty in a Simultaneous Equation Model (SEM), we find that remittances have statistically significant growth enhancing and poverty reducing impact. Drawing on our estimates, we conclude that financial development level significantly increases the remittances inflows and strengthens poverty alleviating impact of remittances. Results of our study further show a signficant interactive imapct of remittances and finacial develpment on economic growth, suggesting the substitutability between remittance inflows and financial development. We further find that 3 percentage point increase in credit provision to the private sector (financial development) can help eliminate the severe depth of hunger in the region. Remittances, serving an alternative source of private credit, can be effective in this regard. Keywords: Remittance Inflow, Poverty Alleviation, Financial Development, Simultaneous Equation Model

The Nexus between Financial Development, Economic Growth and Energy Consumption in India: A VECM Technique

2020 ◽  
pp. 602-612
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Financial Development ◽  
Consumer Price Index ◽  
Development Economic ◽  
Energy Prices ◽  
Vector Error Correction ◽  
Percent Increase ◽  
Growth Energy ◽  
The Impact

The demand for energy consumption requires efficient financial development in terms of bank credit. Therefore, this study examines the nexus between Financial Development, Economic Growth, Energy Prices and Energy Consumption in India, utilizing Vector Error Correction Model (VECM) technique to determine the nature of short and long term relationships from 2010 to 2019. The estimation of results indicates that a one percent increase in bank credits to private sector results in 0.10 percent increase in energy consumption and 0.28 percent increase in energy consumption responses to 1 percent increase in economic growth. It is also observed that the impact of energy price proxied by consumer price index is statistically significant with a negative sign indicating the consistency with the theory.

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