TY  - EJOU
AU  - 
T1  - Finance-Growth Nexus in Africa: A Panel Generalized Method of Moments (GMM) Analysis
T2  - 

PY  - 2013
VL  - 3
IS  - 10
SN  - 

AB  - The paper uses the dynamic GMM Model to examine the finance-growth nexus with panel data (1981-2010) from 24 African countries. Evidence suggests that there is a positive relationship between finance and economic growth and that there is a bi-directional causal relationship between finance and economic growth. To the extent that financial development and economic growth Granger-cause each other, we assert  that policies directed at any of the two , if efficiently and vigorously pursued, could be beneficial to the study countries. 
KW  - Africa
KW  - financial development
KW  - economic growth
DO  -