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Banking sector development and economic growth developing countries: A bootstrap panel Granger causality analysis

Author

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  • Khalil Mhadhbi

    (IMM - Institut Marcel Mauss - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

  • Chokri Terzi

    (IMM - Institut Marcel Mauss - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

  • Ali Ali Bouchrika

    (IMM - Institut Marcel Mauss - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

Abstract

The purpose of this paper is to revisit the Granger causal relationship between banking sector development and economic growth for forty developing countries in the period 1970-2012. In order to capture the different aspects of banking sector development, we develop two banking sector development indices and apply the panel bootstrapped approach to Granger causality testing approach properly taking into account cross-sectional dependence and heterogeneity issues. The empirical results show limited support for the supply-leading, demand-following and complementarity hypotheses. Our results also provide evidence as the causal relationship between banking sector development and economic growth exists in twenty five countries.

Suggested Citation

  • Khalil Mhadhbi & Chokri Terzi & Ali Ali Bouchrika, 2017. "Banking sector development and economic growth developing countries: A bootstrap panel Granger causality analysis," Working Papers hal-01528104, HAL.
    • Handle: RePEc:hal:wpaper:hal-01528104
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    More about this item

    Keywords

    Economic growth; Banking sector development; Cross-sectional dependency; Slope heterogeneity; Granger causality Bootstrap;
    All these keywords.

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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