Financial market development, global financial crisis and economic growth: evidence from developing nations
| العنوان: | Financial market development, global financial crisis and economic growth: evidence from developing nations |
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| المؤلفون: | Rubi Ahmad, A.N. Bany-Ariffin, Bolaji Tunde Matemilola, Oyebola Fatima Etudaiye-Muhtar |
| المصدر: | Repositório Científico de Acesso Aberto de Portugal Repositório Científico de Acesso Aberto de Portugal (RCAAP) instacron:RCAAP |
| بيانات النشر: | Springer Science and Business Media LLC, 2016. |
| سنة النشر: | 2016 |
| مصطلحات موضوعية: | Economics and Econometrics, Financial development, 050204 development studies, 05 social sciences, Financial market, Geography of finance, Financial crisis, Financial system, Growth, Market microstructure, Market depth, Indirect finance, Africa, 0502 economics and business, Economics, Dynamic heterogeneous panel, Stock market, 050207 economics, General Economics, Econometrics and Finance, Financial market participants |
| الوصف: | Emerging and frontier markets in Africa have witnessed various economic and financial reforms aimed at integrating the domestic markets into the global financial market to attract investment. Whether these reforms promote high economic growth remains inconclusive. The paper applies the pooled mean group estimation technique to empirically re-investigate the link between financial market development, global financial crisis, and economic growth in selected African economies. The results strongly support our hypotheses that stock market and banking sector development promotes economic growth in the selected countries. Moreover, financial crisis reduce the positive effects of both the stock market and banking sector developments on economic growth. The study suggests that both the banking sector and stock market are important to deliver the long-run economic growth that the African region desired. Moreover, effort should be made to enact policy measures that would ensure development of the stock market which has received inadequate attention. info:eu-repo/semantics/publishedVersion |
| تدمد: | 1617-9838 1617-982X |
| DOI: | 10.1007/s10258-016-0123-8 |
| URL الوصول: | https://explore.openaire.eu/search/publication?articleId=doi_dedup___::4e15ecc542795dc2f702bd9edfa8b8a3 https://doi.org/10.1007/s10258-016-0123-8 |
| Rights: | OPEN |
| رقم الانضمام: | edsair.doi.dedup.....4e15ecc542795dc2f702bd9edfa8b8a3 |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 16179838 1617982X |
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| DOI: | 10.1007/s10258-016-0123-8 |