Financial Development And Innovationled Economic Growth: Empirical Insight From Sub-Saharan Africa
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Kizito Uyi Ehigiamusoe, 2021. "The nexus between tourism, financial development, and economic growth: Evidence from African countries," African Development Review, African Development Bank, vol. 33(2), pages 382-396, June.
- Zhu, Xiaoyang & Asimakopoulos, Stylianos & Kim, Jaebeom, 2020. "Financial development and innovation-led growth: Is too much finance better?," Journal of International Money and Finance, Elsevier, vol. 100(C).
- Galindo, Miguel-Ángel & Méndez, María Teresa, 2014. "Entrepreneurship, economic growth, and innovation: Are feedback effects at work?," Journal of Business Research, Elsevier, vol. 67(5), pages 825-829.
- Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
- Pradhan, Rudra P. & Arvin, Mak B. & Nair, Mahendhiran & Bennett, Sara E., 2020. "The dynamics among entrepreneurship, innovation, and economic growth in the Eurozone countries," Journal of Policy Modeling, Elsevier, vol. 42(5), pages 1106-1122.
- Banerjee, Abhijit V & Newman, Andrew F, 1993.
"Occupational Choice and the Process of Development,"
Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-298, April.
- Abhijit V. Banerjee & Andrew F. Newman, 1990. "Occupational Choice and the Process of Development," Discussion Papers 911, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Grossman, Gene M & Helpman, Elhanan, 1990.
"Comparative Advantage and Long-run Growth,"
American Economic Review, American Economic Association, vol. 80(4), pages 796-815, September.
- Grossman, Gene M. & Helpman, Elhanan, 1988. "Comparative Advantage and Long-Run Growth," Foerder Institute for Economic Research Working Papers 275459, Tel-Aviv University > Foerder Institute for Economic Research.
- Gene M. Grossman & Elhanan Helpman, 1989. "Comparative Advantage and Long-Run Growth," NBER Working Papers 2809, National Bureau of Economic Research, Inc.
- Grossman, G.M. & Helpman, E., 1988. "Comparative Advantage And Long-Run Growth," Papers 39-88, Tel Aviv.
- Ufuk Akcigit & Salomé Baslandze & Francesca Lotti, 2023.
"Connecting to Power: Political Connections, Innovation, and Firm Dynamics,"
Econometrica, Econometric Society, vol. 91(2), pages 529-564, March.
- Akcigit, Ufuk & Baslandze, Salomé & Lotti, Francesca, 2018. "Connecting to Power: Political Connections, Innovation, and Firm Dynamics," CEPR Discussion Papers 13216, C.E.P.R. Discussion Papers.
- Ufuk Akcigit & Salomé Baslandze & Francesca Lotti, 2020. "Connecting to Power: Political Connections, Innovation, and Firm Dynamics," FRB Atlanta Working Paper 2020-5, Federal Reserve Bank of Atlanta.
- Ufuk Akcigit & Salomé Baslandze & Francesca Lotti, 2018. "Connecting to Power: Political Connections, Innovation, and Firm Dynamics," NBER Working Papers 25136, National Bureau of Economic Research, Inc.
- Ufuk Akcigit & Salomé Baslandze & Francesca Lotti, 2022. "Connecting to power: political connections, innovation, and firm dynamics," Temi di discussione (Economic working papers) 1376, Bank of Italy, Economic Research and International Relations Area.
- Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003.
"Testing for unit roots in heterogeneous panels,"
Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
- Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics 9526, Faculty of Economics, University of Cambridge.
- Tom Doan, "undated". "IPSHIN: RATS procedure to implement Im, Pesaran and Shin panel unit root test," Statistical Software Components RTS00098, Boston College Department of Economics.
- Asteriou, Dimitrios & Spanos, Konstantinos, 2019. "The relationship between financial development and economic growth during the recent crisis: Evidence from the EU," Finance Research Letters, Elsevier, vol. 28(C), pages 238-245.
- James B. Ang & Rajabrata Banerjee & Jakob B. Madsen, 2010. "Innovation, Technological Change And The British Agricultural Revolution," CAMA Working Papers 2010-11, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Hsu, Po-Hsuan & Tian, Xuan & Xu, Yan, 2014. "Financial development and innovation: Cross-country evidence," Journal of Financial Economics, Elsevier, vol. 112(1), pages 116-135.
- Philippe Aghion & Peter Howitt & Ross Levine, 2018.
"Financial development and innovation-led growth,"
PSE-Ecole d'économie de Paris (Postprint)
halshs-01883567, HAL.
- Philippe Aghion & Peter Howitt & Ross Levine, 2018. "Financial development and innovation-led growth," Post-Print halshs-01883567, HAL.
- Kais Mtar & Walid Belazreg, 2021. "Causal Nexus Between Innovation, Financial Development, and Economic Growth: the Case of OECD Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(1), pages 310-341, March.
- Bronwyn H. Hall, 2011.
"Innovation and Productivity,"
NBER Working Papers
17178, National Bureau of Economic Research, Inc.
- Hall, B.H., 2011. "Innovation and productivity," MERIT Working Papers 2011-028, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- Levine, Ross, 2005.
"Finance and Growth: Theory and Evidence,"
Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934,
Elsevier.
- Ross Levine, 2004. "Finance and Growth: Theory and Evidence," NBER Working Papers 10766, National Bureau of Economic Research, Inc.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Trinugroho, Irwan & Law, Siong Hook & Lee, Weng Chang & Wiwoho, Jamal & Sergi, Bruno S., 2021. "Effect of financial development on innovation: Roles of market institutions," Economic Modelling, Elsevier, vol. 103(C).
- Hicks, J. R., 1969. "A Theory of Economic History," OUP Catalogue, Oxford University Press, number 9780198811633.
- Rana P. Maradana & Rudra P. Pradhan & Saurav Dash & Kunal Gaurav & Manju Jayakumar & Debaleena Chatterjee, 2017. "Does innovation promote economic growth? Evidence from European countries," Journal of Innovation and Entrepreneurship, Springer, vol. 6(1), pages 1-23, December.
- David Cass, 1965. "Optimum Growth in an Aggregative Model of Capital Accumulation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 32(3), pages 233-240.
- Ho, Chun-Yu & Huang, Shaoqing & Shi, Hao & Wu, Jun, 2018. "Financial deepening and innovation: The role of political institutions," World Development, Elsevier, vol. 109(C), pages 1-13.
- Mac Junior Abeka & Eric Andoh & John Gartchie Gatsi & Seyram Kawor & David McMillan, 2021. "Financial development and economic growth nexus in SSA economies: The moderating role of telecommunication development," Cogent Economics & Finance, Taylor & Francis Journals, vol. 9(1), pages 1862395-186, January.
- Gyedu, Samuel & Heng, Tang & Ntarmah, Albert Henry & He, Yingqi & Frimppong, Emmanuel, 2021. "The impact of innovation on economic growth among G7 and BRICS countries: A GMM style panel vector autoregressive approach," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
- Hanley, Aoife & Liu, Wan-Hsin & Vaona, Andrea, 2011. "Financial development and innovation in China: Evidence from the provincial data," Kiel Working Papers 1673, Kiel Institute for the World Economy (IfW Kiel).
- Bernier, Maxence & Plouffe, Michael, 2019. "Financial innovation, economic growth, and the consequences of macroprudential policies," Research in Economics, Elsevier, vol. 73(2), pages 162-173.
- Dale W. Jorgenson, 2011. "Innovation and Productivity Growth," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(2), pages 276-296.
- Siong Hook Law & Tamat Sarmidi & Lim Thye Goh, 2020. "Impact of Innovation on Economic Growth: Evidence from Malaysia," Malaysian Journal of Economic Studies, Faculty of Business and Economics, University of Malaya & Malaysian Economic Association, vol. 57(1), pages 113-132, June.
- Adamu Jibir & Salihu Abdullahi & Musa Abdu & Abdullahi Buba & Bello Ibrahim, 2018. "External Debt-Growth Nexus in Nigeria Revisited," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 8(1), pages 117-130.
- Jian, Jianhui & Fan, Xiaojie & Zhao, Shiyong & Zhou, Dong, 2021. "Business creation, innovation, and economic growth: Evidence from China’s economic transition, 1978–2017," Economic Modelling, Elsevier, vol. 96(C), pages 371-378.
- Adamu Jibir & Salihu Abdullahi & Musa Abdu & Abdullahi Buba & Bello Ibrahim, 2018. "External Debt-Growth Nexus in Nigeria Revisited," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 8(1), pages 117-130, January.
- Rudra P. Pradhan & Tamal Nath & Rana P. Maradana & Ajoy K. Sarangi, 2021. "Innovation, Finance, and Economic Growth in OECD Countries: New Insights from a Panel Causality Approach," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 18(04), pages 1-25, June.
- Petra Moser, 2013. "Patents and Innovation: Evidence from Economic History," Journal of Economic Perspectives, American Economic Association, vol. 27(1), pages 23-44, Winter.
- Ang, James B. & Kumar, Sanjesh, 2014. "Financial development and barriers to the cross-border diffusion of financial innovation," Journal of Banking & Finance, Elsevier, vol. 39(C), pages 43-56.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Kais Mtar & Walid Belazreg, 2021. "Causal Nexus Between Innovation, Financial Development, and Economic Growth: the Case of OECD Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(1), pages 310-341, March.
- Kais Mtar & Walid Belazreg, 2023. "On the nexus of innovation, trade openness, financial development and economic growth in European countries: New perspective from a GMM panel VAR approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 766-791, January.
- Serhan Cevik & Mohammad Rahmati, 2015.
"Breaking the Curse of Sisyphus: An Empirical Analysis of Post-Conflict Economic Transitions,"
Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 57(4), pages 569-597, December.
- Serhan Cevik & Mohammad Rahmati, 2015. "Breaking the Curse of Sisyphus: An Empirical Analysis of Post-Conflict Economic Transitions," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 57(4), pages 569-597, December.
- Mr. Serhan Cevik & Mr. Mohammad Rahmati, 2013. "Breaking the Curse of Sisyphus: An Empirical Analysis of Post-Conflict Economic Transitions," IMF Working Papers 2013/002, International Monetary Fund.
- Pradhan, Rudra P. & Arvin, Mak B. & Bahmani, Sahar, 2018. "Are innovation and financial development causative factors in economic growth? Evidence from a panel granger causality test," Technological Forecasting and Social Change, Elsevier, vol. 132(C), pages 130-142.
- Abigail Stiglingh, 2019. "An Analysis Of The Relationship Between Financial Development And Economic Growth: G-7 Countries," Proceedings of International Academic Conferences 9912044, International Institute of Social and Economic Sciences.
- Ekundayo Peter Mesagan & Xuan Vinh Vo & Precious Muhammed Emmanuel, 2023. "The technological role in the growth-enhancing financial development: evidence from African nations," Economic Change and Restructuring, Springer, vol. 56(1), pages 657-680, February.
- George Halkos & Iacovos Psarianos, 2016. "Exploring the effect of including the environment in the neoclassical growth model," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 18(3), pages 339-358, July.
- Matthew Higgins & Daniel Levy & Andrew T. Young, 2003.
"Growth and Convergence across the US: Evidence from County-Level Data,"
Working Papers
2003-03, Bar-Ilan University, Department of Economics.
- Matthew Higgins & Daniel Levy & Andrew Young, 2005. "Growth and Convergence across the U.S: Evidence from County-Level Data," Macroeconomics 0509023, University Library of Munich, Germany.
- Matthew J. Higgins & Daniel Levy & Andrew T. Young, 2005. "Growth and Convergence across the US: Evidence from County-Level Data," Working Papers 2005-06, Bar-Ilan University, Department of Economics.
- Matthew Higgins & Daniel Levy & Andrew Young, 2005. "Growth and Convergence across the US: Evidence from County-Level Data," Macroeconomics 0505009, University Library of Munich, Germany.
- Othmani, Abdelhafidh & Ben Yedder, Nadia & Bakari, Sayef, 2023. "The Cointegration Relationship between Patent, Domestic Investment and Economic Growth in United States of America," MPRA Paper 118245, University Library of Munich, Germany.
- Prempeh Kwadwo Boateng & Frimpong Joseph Magnus & Yeboah Samuel Asuamah, 2024. "The dynamics of financial development, environmental degradation, economic growth and population health in the Economic Community of West African States," Environmental & Socio-economic Studies, Sciendo, vol. 12(2), pages 13-27.
- repec:ebl:ecbull:v:2:y:2002:i:1:p:1-15 is not listed on IDEAS
- Ismail Senturk & Fiaz Ahmad Sulehri & Syeda Mehak Ali, 2022. "Financial Development and Innovation Led-Growth: A Case of Selected Developing Countries," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(3), pages 81-97, September.
- Rafiou Raphaël Bétila, 2021. "The impact of Ease of Doing Business on economic growth: a dynamic panel analysis for African countries," SN Business & Economics, Springer, vol. 1(10), pages 1-34, October.
- Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005.
"Institutions as a Fundamental Cause of Long-Run Growth,"
Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472,
Elsevier.
- Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2004. "Institutions as the Fundamental Cause of Long-Run Growth," CEPR Discussion Papers 4458, C.E.P.R. Discussion Papers.
- Daron Acemoglu & Simon Johnson & James Robinson, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," NBER Working Papers 10481, National Bureau of Economic Research, Inc.
- Daron Acemoglu & Simon Johnson & James Robinson, 2004. "Institutions As The Fundamental Cause Of Long-Run Growth," Documentos CEDE 2889, Universidad de los Andes, Facultad de Economía, CEDE.
- Mohammad Sharif Karimi & Elham Heshmati Daiari, 2018. "Does Institutions Matter for Economic Development? Evidence for ASEAN Selected Countries," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 22(1), pages 1-20, Winter.
- Alvina Sabah Idrees & Saima Sarwar, 2021. "State effectiveness, property rights and entrepreneurial behaviour as determinants of National Innovation," Australian Economic Papers, Wiley Blackwell, vol. 60(3), pages 392-423, September.
- Chris Belmert Milindi & Roula Inglesi-Lotz, 2023.
"Impact of technological progress on carbon emissions in different country income groups,"
Energy & Environment, , vol. 34(5), pages 1348-1382, August.
- Chris B. Milindi & Roula Inglesi-Lotz, 2021. "Impact of technological progress on carbon emissions in different country income groups," Working Papers 855, Economic Research Southern Africa.
- Chris Belmert Milindi & Roula Inglesi-Lotz, 2021. "Impact of technological progress on carbon emissions in different country income groups," Working Papers 202123, University of Pretoria, Department of Economics.
- Fernandes, Leonardo H.S. & de Araújo, Fernando H.A. & Silva, Igor E.M. & Neto, Jusie S.P., 2021. "Macroeconophysics indicator of economic efficiency," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 573(C).
- Trinugroho, Irwan & Law, Siong Hook & Lee, Weng Chang & Wiwoho, Jamal & Sergi, Bruno S., 2021. "Effect of financial development on innovation: Roles of market institutions," Economic Modelling, Elsevier, vol. 103(C).
- Frédéric Lordon, 1991. "Théorie de la croissance : quelques développements récents [Deuxième partie : la redécouverte des rendements croissants]," Revue de l'OFCE, Programme National Persée, vol. 37(1), pages 191-243.
- Ma, Qiang & Mentel, Grzegorz & Zhao, Xin & Salahodjaev, Raufhon & Kuldasheva, Zebo, 2022. "Natural resources tax volatility and economic performance: Evaluating the role of digital economy," Resources Policy, Elsevier, vol. 75(C).
More about this item
Keywords
economic growth; innovation; financial development; sub-Saharan Africa;All these keywords.
JEL classification:
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:beo:journl:v:68:y:2023:i:237:p:97-136. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Goran Petrić (email available below). General contact details of provider: https://edirc.repec.org/data/efbeoyu.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.