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Financial Market Inclusion and Economic Growth: Evidence from Algeria

Faycal Chiad, Amine Aouissi and Ahcene Lahsasna

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, we investigated the relationship between financial inclusion (FI), trade openness (TO), human development (HD), and GDP growth in Algeria. Our data set covers annual times series data from 1980 to 2018. The autoregressive distributed lag (ARDL) bounds test was used to examine the cointegration between variables due to mixed orders of integration I(0) and I(1).The results indicate that financial inclusion, trade openness, human development have a positive and significant impact on economic growth in the short and long-run, thereby confirming the strength of the finance-growth connections. Granger-causality test confirms that there is bi-directional causality between financial inclusion and economic growth.

Keywords: Financial inclusion; Economic Growth; ARDL; Algeria (search for similar items in EconPapers)
JEL-codes: O10 (search for similar items in EconPapers)
Date: 2021, Revised 2021
New Economics Papers: this item is included in nep-ara, nep-ban, nep-cwa, nep-fdg, nep-fle and nep-gro
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Published in Empirical Economics Letters 20.10(2021): pp. 1793-1812

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