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Title: Finance and growth in Africa: the broken link
Authors: Demetriades, Panicos
James, Gregory
Keywords: Panel cointegration
Cross-sectional dependence
African financial under-development
Issue Date: 2011
Publisher: © Elsevier B.V.
Citation: DEMETRIADES, P. and JAMES, G., 2011. Finance and growth in Africa: the broken link. Economics Letters, 113 (3), pp. 263-265.
Abstract: Utilizing the latest panel cointegration methods we provide new empirical evidence from 18 countries that suggests that the link between finance and growth in Sub- Saharan Africa is ‘broken’. Specifically, our findings show that banking system development in this region follows economic growth. They also indicate that there is no link between bank credit and economic growth.
Description: NOTICE: this is the author’s version of a work that was accepted for publication in Economics Letters. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Economics Letters, 2011, 113 (3), URL: http://dx.doi.org/10.1016/j.econlet.2011.08.007.
Sponsor: [The authors] acknowledge financial support from the ESRC (Award reference RES-000- 22-2774).
Version: Accepted for publication
DOI: 10.1016/j.econlet.2011.08.007
URI: https://dspace.lboro.ac.uk/2134/15333
Publisher Link: http://dx.doi.org/10.1016/j.econlet.2011.08.007
ISSN: 0165-1765
Appears in Collections:Published Articles (Economics)

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