Financial development, remittances and economic growth: A threshold analysis

James Peprah, Isaac Kwesi Ofori and Abel Nyarko Asomani

EconStor Open Access Articles and Book Chapters, 2019, vol. 7, issue 1

Abstract: Sources of economic growth in Ghana have not been clear. Several studies have contributed to the finance and growth literature with little attention on remittances and the joint effect of financial sector development and remittances. This paper uses macrodata to examine the linkages between financial development, remittances, and economic growth in Ghana. We estimate a dynamic heterogeneous Autoregressive Distributed Lag (ARDL) model to show that financial booms are not, in general, growth-enhancing, and a certain level of financial development can drag down economic growth in the long term and the combined effect of financial development and remittances should be of concern to policymakers.

Keywords: Africa; ARDL; Financial development; Ghana; Economic growth; Remittances (search for similar items in EconPapers)
JEL-codes: F22 F43 O16 O40 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (79)

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Related works:
Journal Article: Financial development, remittances and economic growth: A threshold analysis (2019)
Working Paper: Financial development, remittances and economic growth: A threshold analysis (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:231266

DOI: 10.1080/23322039.2019.1625107

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