Financial Sectors Reform and Economic Growth in Morocco: An Empirical Analysis

Jung-Suk Yu, M. Kabir Hassan, Abdullah Mamun and Abul Hassan
Additional contact information
Jung-Suk Yu: Jung-Suk Yu, School of Urban Planning & Real Estate Studies, Dankook University, Gyeonggi-do, 448-701, Korea. E-mail: jsyu@dankook.ac.kr
Abdullah Mamun: Abdullah Mamun, Ph.D. Associate Professor and Center for Strategic Financial Management Scholar, Department of Finance and Management Science, Edwards School of Business, University of Saskatchewan, Saskatoon, Saskatchewan, Canada. E-mail: amun@edwards.usask.ca
Abul Hassan: Abul Hassan, Research Scientist II, Centre of Islamic Banking and Finance, King Fahd University of Petroleum and Minerals. Dhahran, Saudi Arabia. E-mail: abulhassan03@yahoo.co.uk

Journal of Emerging Market Finance, 2014, vol. 13, issue 1, 69-102

Abstract: This study analyses the impact of financial sector reforms from the early 1990s on promoting economic growth in Morocco. To derive feasible policy implications, we estimate not only pooled regressions, but also variance decompositions of GDP growth rates to examine what proxy measures of financial development are most important in economic growth over time and how much they contribute to economic growth across geographic regions and income groups. We find strong linkages between financial development and economic growth in high-income OECD countries, but not in East Asia and Pacific, South Asian and Sub-Saharan African regions, in the short run. Therefore, it may be necessary for Morocco to make different policy efforts to achieve steady economic growth in the long run. JEL Classification: G21, O16, C33

Keywords: Economic growth; financial development; pooled regression; Granger causality tests (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Financial Sector Reform and Economic Growth in Morocco: An Empirical Analysis (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:emffin:v:13:y:2014:i:1:p:69-102

DOI: 10.1177/0972652714534025

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