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The Impact Of Credit Union Financial Intermediation On Economic Growth: A Multi-Country Analysis

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  • Michael Adusei
  • Samuel Kofi Afrane

Abstract

The paper investigates the relationship between credit union (CU) financial intermediation and economic growth using seventeen-year data (1995-2011) from 12 CU countries. Using the panel Generalized Method of Moments (GMM) estimation technique, the study finds that there is a statistically significant positive relationship between CU financial intermediation and economic growth. On the strength of this evidence, the paper concludes that CU financial intermediation has a positive impact on economic growth and thus recommends a vigorous promotion of CU financial intermediation in the study countries.

Suggested Citation

  • Michael Adusei & Samuel Kofi Afrane, 2013. "The Impact Of Credit Union Financial Intermediation On Economic Growth: A Multi-Country Analysis," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 7(5), pages 71-78.
    • Handle: RePEc:ibf:gjbres:v:7:y:2013:i:5:p:71-78
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    References listed on IDEAS

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    More about this item

    Keywords

    Financial Intermediation; Credit Union; Economic Growth;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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