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Financial innovation and economic growth in the SADC

Author

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  • Alex Bara
  • Gift Mugano
  • Pierre Le Roux

Abstract

This study empirically establishes the causal relationship between financial innovation and economic growth in the SADC. Using an Autoregressive Distributed Lag (ARDL) Model, estimated by Pooled Mean Group and Dynamic Fixed Effects, the study finds that financial innovation generally has a positive relationship with economic growth in the long run for the SADC. Introducing Mobile Banking props up the role of financial innovation in growth in the SADC. The long-run estimations show mixed effects on proxy variables other than Mobile Banking, strengthening the importance of having appropriate measures for financial innovation. Panel Granger causality tests establish that there is no causality, in any direction, between financial innovation and growth, both in the short and long run.

Suggested Citation

  • Alex Bara & Gift Mugano & Pierre Le Roux, 2016. "Financial innovation and economic growth in the SADC," African Journal of Science, Technology, Innovation and Development, Taylor & Francis Journals, vol. 8(5-6), pages 483-495, December.
    • Handle: RePEc:taf:rajsxx:v:8:y:2016:i:5-6:p:483-495
    DOI: 10.1080/20421338.2016.1226705
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    Cited by:

    1. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Ojong, Nathanael, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," MPRA Paper 121247, University Library of Munich, Germany.
    2. Ihtisham ul Haq & Shavkat Otamurodov & Khurram Abbas & Aisha Nowshid Khan, 2024. "Financial Innovation and Sustainable Development in Pakistan: An Empirical Study," International Journal of Energy Economics and Policy, Econjournals, vol. 14(2), pages 402-409, March.
    3. Ofori, Pamela E. & Ofori, Isaac K., 2024. "The Impact of Frontier Technology Adoption on Gender Inequality: Evidence from Africa," EconStor Preprints 298789, ZBW - Leibniz Information Centre for Economics.
    4. Ofori, Pamela E. & Ofori, Isaac K., 2024. "The Impact of Frontier Technology Adoption on Gender Inequality: Evidence from Africa," MPRA Paper 121245, University Library of Munich, Germany.
    5. Zahid Mehmood Akhtar & Dr. Faid Gul & Dr. Fauzia Mubarak, 2024. "Economic Growth and Financial Intermediation Nexus in Pakistan: An ARDL Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 542-551.
    6. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Vezzulli, Andrea, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," MPRA Paper 121246, University Library of Munich, Germany.
    7. AYODELE, Oluwafemi Godwin & AFOLABI, Taofeek Sola, 2023. "Impact of Financial Innovation on the Competitiveness of Deposit Money Banks in Nigeria," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 10(10), pages 23-36, October.
    8. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Vezzulli, Andrea, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," EconStor Preprints 298787, ZBW - Leibniz Information Centre for Economics.

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