Financial Development and Growth: A Positive, Monotonic Relationship? Empirical Evidences from South Africa

Abdul Jalil, Abu Wahid and Muhammad Shahbaz

MPRA Paper from University Library of Munich, Germany

Abstract: The objective of this article is to investigate the relationship between development of the financial sector and economic growth for South Africa. For this purpose, we data for 1965-2007 and set the estimation strategy under the ARDL framework. Importantly, four indicators for the financial developments are utilized to accomplish our tasks. We find a positive monotonic relationship between financial development and economic growth for South Africa. Trade openness and per capita real capital are found as the other important determinants of economic growth in South Africa.

Keywords: Financial Development; Trade; Growth; South Africa; ARDL; Monotonic relationship (search for similar items in EconPapers)
JEL-codes: G21 O40 (search for similar items in EconPapers)
Date: 2010-12-24
New Economics Papers: this item is included in nep-afr and nep-fdg
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:27668

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