Financial Development and Economic Growth Nexus: Evidence From Algeria Lien entre développement financier et croissance économique: témoignages de l'Algérie
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Abstract
This research paper represents a brief summary of both the theoretical and the
empirical frameworks of the most important researches related to the study of the
relationship between financial development and economic growth. A standard study was
conducted to investigated the nature of the relationship and to determine the role of the
Algerian banking system in promoting the economic activity during the period (1990 –
2014) relying on a set of tests, including the test of cointegration of variables, and vector
error-correction model. In addition to Granger’s causality, using only the financial
variables, and then applying the model using macro variables (financial and real
variables) as to identify the most influential factors on economic growth .
The study concluded that there is a one-way long-term causal relationship between
banking system and economic growth. While the Granger’s causality test indicates a oneway
causal relationship between economic growth and investments.
Article Details
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