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The Impact of Microfinance on Economic Growth: Evidence from the Gulf Countries

In: Global Economic Challenges

Author

Listed:
  • Ahmed A. Salem Abdelsalam

    (Libyan International Medical University, Libya)

Abstract

This article investigates the impact of microfinance on economic growth in the Gulf countries using annual data from the World Bank database between 1990 and 2020. A panel data analysis is used to run the regression model via pooled OLS. Results reveal that Microfinance is significantly and negatively associated with economic growth, while market capitalization positively impacts the growth. Therefore, financial services provided by the stock market may promote economic growth rather than Domestic credit provided by the banking sector.

Suggested Citation

  • Ahmed A. Salem Abdelsalam, 2023. "The Impact of Microfinance on Economic Growth: Evidence from the Gulf Countries," Springer Proceedings in Business and Economics, in: Nesrin Özataç & Korhan K. Gökmenoğlu & Daniel Balsalobre Lorente & Nigar Taşpınar & Bezhan Rustamov (ed.), Global Economic Challenges, pages 101-112, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-23416-3_8
    DOI: 10.1007/978-3-031-23416-3_8
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