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Financial development and economic growth: The empirical evidence of the southern Mediterranean countries

Author

Listed:
  • Mohamed Aydi

    (Faculté de Droit et de Sciences Economiques et Politiques de Sousse - Faculté de Droit et de Sciences Economiques et Politiques de Sousse)

  • Abdelkader Aguir

    (BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper analyzes empirically the links between financial development and the economic growth of the (SMC). The study is based on a VAR approach: The Johansen Tests for Cointegration and VECM models. The debate on the relation between the financial sphere and the real economic sphere was very ambiguous Some studies have shown a positive association between these two spheres while others presented the opposing view perfectly. On the basis of the data relative to the PSM, observed during period 1981-2014, we tried to show there is or not a positive relationship between the financial development and the economic growth. This relationship and increasingly intense for the role of the banking development and and refers to an innovation effort and modernization of the financial system.

Suggested Citation

  • Mohamed Aydi & Abdelkader Aguir, 2017. "Financial development and economic growth: The empirical evidence of the southern Mediterranean countries," Post-Print hal-01753589, HAL.
    • Handle: RePEc:hal:journl:hal-01753589
    as

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    Cited by:

    1. Mohamed Aydi & Abdelkader Aguir, 2017. "Financial Development and Economic Growth: The Empirical Evidence of the Southern Mediterranean Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 196-209.
    2. Murat AKÇA & Vedat KAYA, 2023. "Effectiveness of Unconventional Monetary Policy Tools on Financial Stability: A NARDL Approach for Turkey," Bingol University Journal of Economics and Administrative Sciences, Bingol University, Faculty of Economics and Administrative Sciences, vol. 7(1), pages 63-80, June.

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