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Financial Innovation and Economic Growth in the SADC

Author

Listed:
  • Alex Bara
  • Gift Mugano
  • Pierre Le Roux

Abstract

The study empirically establishes the causal relationship between financial innovation and economic growth in SADC. Using an Autoregressive Distributed Lag (ARDL) Model, estimated by Pooled Mean Group and Dynamic Fixed Effects, the study finds that financial innovation has a positive relationship to economic growth in long run for SADC. The long run estimations, however, show […]

Suggested Citation

  • Alex Bara & Gift Mugano & Pierre Le Roux, 2016. "Financial Innovation and Economic Growth in the SADC," Working Papers 627, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:627
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    File URL: https://econrsa.org/wp-content/uploads/2022/06/working_paper_627.pdf
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    Citations

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    Cited by:

    1. Muhammad Rizwan Nazir & Yong Tan & Muhammad Imran Nazir, 2021. "Financial innovation and economic growth: Empirical evidence from China, India and Pakistan," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 6036-6059, October.
    2. Md. Qamruzzaman & Wei Jianguo, 2017. "Financial innovation and economic growth in Bangladesh," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 3(1), pages 1-24, December.
    3. Klapkiv Lyubov & Ulgen Faruk, 2022. "An Evolutionary Perspective on the Endogenous Instability of Capitalist Dynamics," Central European Economic Journal, Sciendo, vol. 9(56), pages 291-308, January.
    4. Sudeshna Ghosh, 2020. "Impact of economic growth volatility on income inequality: ASEAN experience," Quality & Quantity: International Journal of Methodology, Springer, vol. 54(3), pages 807-850, June.
    5. Md. Qamruzzaman & Jianguo Wei, 2019. "Financial Innovation and Financial Inclusion Nexus in South Asian Countries: Evidence from Symmetric and Asymmetric Panel Investigation," IJFS, MDPI, vol. 7(4), pages 1-27, October.
    6. Md. Qamruzzaman & Wei Jianguo & Sharmin Jahan & Zhu Yingjun, 2021. "Financial innovation, human capital development, and economic growth of selected South Asian countries: An application of ARDL approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4032-4053, July.
    7. US Thathsarani & Jianguo Wei & GRSRC Samaraweera, 2021. "Financial Inclusion’s Role in Economic Growth and Human Capital in South Asia: An Econometric Approach," Sustainability, MDPI, vol. 13(8), pages 1-18, April.
    8. 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.
    9. Adegbola Olubukola Otekunrin & Tough Chinoda & Kudzanai Matowanyika, 2021. "The Nexus Between Economic Growth, Financial Development, Financial Inclusion and Financial Innovation in Africa," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 11(8), pages 672-681, August.
    10. Md. Qamruzzaman & Wei Jianguo, 2018. "Nexus between financial innovation and economic growth in South Asia: evidence from ARDL and nonlinear ARDL approaches," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 4(1), pages 1-19, December.
    11. Maku Affor Owen, 2020. "Stock Market Development and Economic Growth: Empirical Evidence From an Institutional Impaired Economy," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(5), pages 496-509, October.
    12. Md. Qamruzzaman & Jianguo Wei, 2018. "Financial Innovation, Stock Market Development, and Economic Growth: An Application of ARDL Model," IJFS, MDPI, vol. 6(3), pages 1-30, August.

    More about this item

    Keywords

    economic growth; Financial Markets; SADC; Technological Innovation; Time Series Analysis;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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