Financial development and manufactured exports: the African experience

Evelyn Wamboye and Rajen Mookerjee

International Journal of Economic Policy in Emerging Economies, 2014, vol. 7, issue 1, 22-34

Abstract: Using a sample of 29 African countries for which adequate time series data are available this paper explores the nexus between financial development and manufactured exports. This particular relationship is especially important in the context of Africa since export diversification away from resources and agriculture is an important part of Africa's growth strategy. Our results show that in 11 countries financial development causes manufactured exports and manufactured exports causes financial development in seven countries. We then explore reasons for these findings and find that a rich and surprising set of factors explain our findings.

Keywords: financial development; Granger causality; manufactured exports; Africa; export diversification; exporting; emerging economies. (search for similar items in EconPapers)
Date: 2014
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Working Paper: Financial development and manufactured exports: the african experience (2013)
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