Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach

Autor:	Hicham AYAD, Mostéfa BELMOKADDEM
Jazyk:	angličtina
Rok vydání:	2017
Předmět:	Financial development Trade openness Kaopen index Milesi-Ferreti index TYDL Granger causality Business HF5001-6182 Economic theory. Demography HB1-3840 Economics as a science HB71-74
Zdroj:	Theoretical and Applied Economics, Vol XXIV, Iss 1, Pp 233-246 (2017)
Druh dokumentu:	article
ISSN:	1841-8678 1844-0029
Popis:	This paper examines the causal relationship between financial development (measured as Kaopen index and Line and Milesi-Ferreti index), trade openness and economic growth for 16 MENA countries within the panel co-integration techniques, panel VAR model and TYDL (Toda, Yamamoto, Dolado and Lutkepohl) Granger causality (1996), the empirical results show that both of finance-led growth and trade-led growth hypothesis seem to be rejected for the group as a whole. The results imply that financial development and trade liberalization do not seem to have made a significant impulse on economic growth for the period 1980-2014.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/fa6b9e44d0d046cfacb7b53c9932c654 Zobrazit plný text záznamu View record in DOAJ Plný text ve formátu PDF