(DOWNLOAD) "Financial Development and Income in North Africa." by International Advances in Economic Research " eBook PDF Kindle ePub Free
eBook details
- Title: Financial Development and Income in North Africa.
- Author : International Advances in Economic Research
- Release Date : January 01, 2008
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 269 KB
Description
Abstract We explore the short-run dynamics and long-run relationship between income and financial development in Algeria, Egypt, and Morocco. We use co-integration and VECM models and four indicators of financial development. The empirical results indicate that there is a long-run relationship between income and each financial development indicator, except credit to the private sector in Algeria. On the other hand, Granger-causality test results indicate that the evidence on the direction of causality is mixed. Keywords North Africa * Financial development * Economic growth * VECM * Arab countries
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