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From Financial Development to Economic Growth and Vice Versa: A Review of International Experience and Policy Lessons for Africa

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  • Laurence Harris
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    Abstract

    A large body of econometric studies in the past two decades has yielded considerable knowledge of the connection between financial development and economic growth, as experienced by a wide range of countries. A consensus view that financial development positively conditions or promotes economic growth emerged at an early stage. This paper argues that the evidence does not, however, provide a strong basis for policy in Africa, or, indeed, in specific countries elsewhere. Copyright 2012 , Oxford University Press.

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    File URL: http://hdl.handle.net/10.1093/jae/ejr041
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    Article provided by Centre for the Study of African Economies (CSAE) in its journal Journal of African Economies.

    Volume (Year): 21 (2012)
    Issue (Month): suppl_1 (January)
    Pages: -i106

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    Handle: RePEc:oup:jafrec:v:21:y:2012:i:suppl_1:p:-i106

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