THE IMPACT OF CREDIT UNION FINANCIAL INTERMEDIATION ON ECONOMIC GROWTH: A MULTI-COUNTRY ANALYSIS

Michael Adusei and Samuel Kofi Afrane

Global Journal of Business Research, 2013, vol. 7, issue 5, 71-78

Abstract: The paper investigates the relationship between credit union (CU) financial intermediation and economic growth using seventeen-year data (1995-2011) from 12 CU countries. Using the panel Generalized Method of Moments (GMM) estimation technique, the study finds that there is a statistically significant positive relationship between CU financial intermediation and economic growth. On the strength of this evidence, the paper concludes that CU financial intermediation has a positive impact on economic growth and thus recommends a vigorous promotion of CU financial intermediation in the study countries.

Keywords: Financial Intermediation; Credit Union; Economic Growth (search for similar items in EconPapers)
JEL-codes: G2 O1 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ibf:gjbres:v:7:y:2013:i:5:p:71-78

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