Financial Deepening And Economic Growth Dynamics: Empirical Evidence From The West African Monetary Zone

• Main Authors: Chidera G. Eze, Abrokwa, Kennedy K., Chimaobi V. Okolo
• Format: Text
• Language: English
• Published: Zenodo 2016
• Subjects: Financial deepening; economic growth; dynamics; innovation accounting.; Argentina; Beck; Canada; Victoria Island; victoria island
• Online Access: https://dx.doi.org/10.5281/zenodo.1123662; https://zenodo.org/record/1123662

This paper empirically examines the dynamic relationship between financial deepening and economic growth in a monetary union. We find positive but weak evidence of impacts of financial deepening on growth for Gambia, Gabon and Sierra Leone. There is no evidence of any positive significant impact for Ghana and Nigeria. We argue that, the weak evidence between financial deepening and economic growth can be a consequence of the inability of assessing credit (long-term loans), credit worthiness, lack of information and low level of bank deposits by the private sector despite the improvement in the financial sector. : {"references": ["Abdullahi D. A., and K. K. Mmolainyane. 2014. Financial integration, capital market development and economic Performance\": Empirical evidence from Botswana. Journal of Economic Modelling, 42:1-14.", "Abu-Bader, S. and Abu-Qarn, A.S. 2007. Financial development and economic growth: The Egyptian experience. 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