rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Financial development, impact on output and its determinants
    sub title: the case of the economic community of the West African states
  name:
    name part: Abubakar, Abdulsalam
    role:
      role term: creator
  name:
    name part: International Islamic University Malaysia
    name part: Kulliyyah of Economics and Management Sciences
  genre: Theses, IIUM local
  origin info:
    place:
      place term: my
    place:
      place term: Kuala Lumpur
    publisher: Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia
    date issued: 2015
  language:
    language term: eng
  physical description:
    extent: xvii, 269 leaves : ill. ; 30cm.
  abstract: The role of financial development to influence the capital accumulation, productivity and hence economic growth, has continued to take a centre stage in the economic growth literature. The apparent low level of economic performance of the Economic Community of West African States (ECOWAS) region, low physical and human capital accumulations and low productivity have raised issues about the role of financial development to the economic growth process of the region and serve as the motivation of this study. The study investigates the impact of financial development on the output of eleven ECOWAS member states over the period from 1980 to 2011. The determinants of financial development in ECOWAS from 1996 to 2011 period are also examined. The study employs panel cointegration techniques, which involve panel cointegration tests by Pedroni (2000; 2004) and Kao (1999) and two panel cointegration estimators, namely; the fully modified OLS (FMOLS) and dynamic OLS (DOLS). Furthermore, the study adopts the Dumitrescu-Hurlin (2012) panel causality test to determine the causal relationship between financial development and output in ECOWAS. The findings show that broad money and financial sector deposits have negative and significant impact on the output, as found by Hakeem (2010) in sub-Saharan African region. On the other hand, banking sector deposits, domestic credit, bank credit and the ratio of bank credit to bank deposits are found to have positive and significant impact on output in ECOWAS. This is consistent with the findings of Ndebbio (2003) and Gaye (2013). These effects are largely transmitted through the physical capital accumulation channel, as found by Rioja and Valev (2003) in developing countries. The empirical evidence further shows that whereas unidirectional causality runs from GDP to broad money and bank deposits, the reverse is the case for bank credit and ratio of bank credit to bank deposits. Similarly, bidirectional causality is found to exist between f…
  note: by Abdulsalam Abubakar
  note: Thesis (Ph.D)--International Islamic University Malaysia, 2015.
  note: Includes bibliographical references (leave 249-263).
  subject:
    geographic code: a-my---
  classification: HC547.W5
  identifier: http://studentrepo.iium.edu.my/handle/123456789/3203
  record info:
    record content source: UIAM
    record creation date: 160111
    language of cataloging:
      language term: eng