EconPapers    
Economics at your fingertips  
 

Financial Deepening and Economic Growth in Gulf Cooperation Council Countries

Helmi Hamdi (), Rashid Sbia () and Bedri Tas

International Economic Journal, 2014, vol. 28, issue 3, 459-473

Abstract: The goal of this study is to investigate the causal relationship between financial development and economic growth in Gulf Cooperation Council (GCC) countries, i.e. Bahrain, Oman, Kuwait, Qatar, United Arab Emirates and Saudi Arabia, over the period 1980-2012. We employ panel unit root tests, and Error Correction Model and cointegration techniques to detect long-run and short-run causalities between the variables used in our study. The overall empirical results reveal that the financial sector development contributes significantly to economic growth in the GCC countries. Our results could be of great interest for policymakers since the financial sector could play a crucial role in lowering the dependency of the governments to oil revenues and could contribute significantly to spur economic growth.

Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1080/10168737.2014.913653 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Financial Deepening and Economic Growth in Gulf Cooperation Council Countries (2014)
Working Paper: Financial Deepening and Economic Growth in Gulf Cooperation Council Countries (2014)
Working Paper: Financial deepening and economic growth in Gulf Cooperation Council countries (2012) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:intecj:v:28:y:2014:i:3:p:459-473

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RIEJ20

DOI: 10.1080/10168737.2014.913653

Access Statistics for this article

International Economic Journal is currently edited by Jaymin Lee Editor

More articles in International Economic Journal from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2022-09-22
Handle: RePEc:taf:intecj:v:28:y:2014:i:3:p:459-473