Finance–Growth Nexus: Empirical Evidence from South Africa

Ilhan Ozturk

Economic Studies journal, 2007, issue 4, 3-17

Abstract: In this paper we investigate the long-run relationship between financial development and economic growth in South Africa for the period 1970-2003. The empirical investigation is carried out in a vector autoregression (VAR) framework based on the theory of cointegration and error-correction representation of cointegrated variables. The results of the cointegration analysis provide evidence of the existence of a long-run relationship between financial development and economic growth. The empirical findings in the paper show a two-way causality between financial development and economic growth.

JEL-codes: O11 O16 O53 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2007:i:4:p:3-17

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