Financial development, remittances and economic growth: A threshold analysis

James Peprah, Isaac Kwesi Ofori and Abel Nyarko-Asomani

MPRA Paper from University Library of Munich, Germany

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: Financial development; remittances; economic growth; Ghana (search for similar items in EconPapers)
JEL-codes: F4 O1 O11 O4 O43 O47 (search for similar items in EconPapers)
Date: 2019-07-10
New Economics Papers: this item is included in nep-fdg, nep-gen, nep-gro and nep-ore
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (78)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:99858

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