scispace - formally typeset
Search or ask a question
Topic

Financial sector development

About: Financial sector development is a research topic. Over the lifetime, 1674 publications have been published within this topic receiving 90787 citations.


Papers
More filters
Posted Content
01 Jan 2016
TL;DR: In this paper, the authors examined the relationship between Nigeria financial sector development and macroeconomic stability from 1980 to 2014 using time series data from Central Bank of Nigeria (CBN) statistical bulletin and employed Co-integration Test, Augmented Dickey Fuller Unit Root Test, Granger Causality Test and Vector Error Correction Model were used to examine the extent to which the independent variables affect dependent variable.
Abstract: This paper examines the relationship between Nigeria financial sector development and macroeconomic stability from 1980 – 2014. The objective is to investigate the extent and the direction of relationship between various components of financial sector development and macroeconomic stability in Nigeria. Time series data were sourced from Central Bank of Nigeria (CBN) statistical bulletin. The study modeled percentage of Nigerian Gross Domestic Product to Balance of Payment (GDP/EXT) as our dependent variable total commercial banks credit to Gross Domestic Product (TCBC/GDP), Broad Money Supply to Gross Domestic Product (M2/GDP), Credit to Core Private Sector to Gross Domestic Product (CPS/GDP), Stock Market Capitalization to Gross Domestic Product (MKT/GDP) and Total savings to Gross Domestic Product (TS/GDP) as our independent variables. The study employed Co-integration Test, Augmented Dickey Fuller Unit Root Test, Granger Causality Test and Vector Error Correction Model were used to examine the extent to which the independent variables affect dependent variable. The static regression result shows that all the independent variables have positive effect on the dependent variables. The Augmented Dickey Fuller result shows non stationarity at level and stationarity at first difference. The cointegration result shows long run relationship, the Granger Causality Test shows multivariate relationship running through the independent to the dependent variable and the dependent to the independent variables. The vector error correction result shows adequate speed of adjustment to equilibrium. The study conclude that Nigerian financial sector development have significant relationship with macroeconomic stability. It therefore recommends effective financial system policies to deepen the development of the financial system to enhance Nigerian macroeconomic stability.

1 citations

Journal ArticleDOI
Zineb Fahsi1, Abderrahim Chibi
31 Jul 2019
TL;DR: Fahsi et al. as mentioned in this paper empirically examined the relationship between financial sector development and economic growth in Algeria over the period 1980-2017, using the auto-regressive distributed lag approach to cointegration analysis, depending on real gross domestic product per capita as a dependent variable, broad money and domestic credit to private sector as a measure of financial development.
Abstract: * Corresponding author, e-mail: zineb.fahsi@univ-sba.dz Abstract: This study empirically examines the relationship between financial sector development and economic growth in Algeria over the period 1980–2017, using the auto-regressive distributed lag approach to co-integration analysis, depending on real gross domestic product per capita as a dependent variable, broad money and domestic credit to private sector as a measure of financial development. Our results reveal that the relationship between financial development and economic growth in Algeria is not significantly different from what has been observed generally in oildependent economies. The finance-growth relation in Algeria is found to be insignificantly positive. These findings suggest a dire need for financial reforms in Algeria in order to improve efficiency in the financial sector so as to stimulate investment and saving and thus, long-term economic growth.

1 citations

Journal ArticleDOI
TL;DR: In this paper , the authors analyzed the impact of the banking sector of Bosnia and Herzegovina on economic growth in the period from 2000 to 2021 and found that a 1% increase in total bank credit to non-financial private sector firms leads to an increase in GDP of approximately 0.08% in long run and about 0.20% in short run.
Abstract: Abstract Achieving sustainable economic growth is one of the main goals of economic policy in modern countries. As previous research has shown, the development of financial system has a significant influence on economic growth. The importance of the innovative banking sector in developing countries becomes particularly important due to the insufficient evolvent of other parts of the financial system. The subject of this paper is the analysis of the impact of the banking sector of Bosnia and Herzegovina on economic growth in the period from 2000 to 2021. The aim of the study is to quantify this relationship. In this study we apllied ARDL model to determine long-term and short-term relationship between observed variables. The results show that the increase in total loans granted by the banking sector to companies from the non-financial sector has a positive impact on the development of GDP. Namely, a 1% increase in total bank credit to non-financial private sector firms leads to an increase in GDP of about 0.08% in long run and about 0.20% in short run.

1 citations

Journal ArticleDOI
TL;DR: In this article , the authors focused on the relation of four different financial development indicators and export performance, sampled from nine member states of the Commonwealth of Independent States, with economic growth for the period of 1995-2020.
Abstract: This study focuses on the relation of four different financial development indicators and export performance, sampled from nine member states of the Commonwealth of Independent States, with economic growth for the period of 1995–2020. Its long-run relationship with PVAR analysis has been presented through VECM. The FMOLS and DOLS methods are used for the long-term coefficient estimates. According to the findings, there is a cointegration relationship between economic growth and export, and broad money, domestic credit to the private sector by banks, and monetary sector credit to private sector variables. The findings indicate that both financial development and export have a positive impact on economic growth. On the other hand, the findings have not presented sufficient evidence about the influence of the gross capital formation variable on economic growth while the monetary sector credit to private sector variable has been found to negatively affect economic growth. When the results of FMOLS and DOLS models are assessed together, it is concluded that export and financial development affects economic growth positively in the long term, but the first one’s effect is less.

1 citations

Journal ArticleDOI
TL;DR: In this paper, the authors explored the contributory powers of urbanisation, services sector expansion and development assistance on per worker income in Fiji over the periods 1981-2009 using the ARDL bounds approach.
Abstract: The study explores the contributory powers of urbanisation, services sector expansion and development assistance on per worker income in Fiji over the periods 1981–2009 using the ARDL bounds approach. The results show that sectors like tourism, information and communications technology, financial sector development besides urbanisation and development assistance are positively contributing to long-run growth and development. Therefore, sound urban planning, improving infrastructure, promoting Fiji as a choice of tourist destination, advancing and improving availability, affordability and accessibility of technology, financial inclusion and strengthening donor relations are pertinent matters for policy discourse.

1 citations


Network Information
Related Topics (5)
Exchange rate
47.2K papers, 944.5K citations
82% related
Foreign direct investment
47.2K papers, 1M citations
82% related
Interest rate
47K papers, 1M citations
80% related
Volatility (finance)
38.2K papers, 979.1K citations
80% related
Monetary policy
57.8K papers, 1.2M citations
80% related
Performance
Metrics
No. of papers in the topic in previous years
YearPapers
202357
202279
202155
202093
201991
201888