Financial and Monetary Reforms and the Finance-Growth Relationship in Zimbabwe

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dc.contributor.authorTyavambiza, Takawira
dc.contributor.authorNyangara, Davis
dc.date.accessioned2015-12-09T13:16:30Z
dc.date.accessioned2023-06-26T12:08:43Z
dc.date.available2015-12-09T13:16:30Z
dc.date.available2023-06-26T12:08:43Z
dc.date.issued2015
dc.descriptionPublished Journal Article on Financial and Monetary Reforms and the Finance-Growth Relationship in Zimbabwe.en_US
dc.description.abstractThe study employs the Granger causality test in a multivariate cointegration and error correction environment to examine the relationship between financial development and economic growth in Zimbabwe. Using annual data from 1980 to 2012, and after controlling for financial and monetary reforms, the study demonstrates a unidirectional causal relationship that runs from financial development to economic growth. The evidence shows that financial development; banking sector development in particular, is not a passive response to economic growth. Instead, it is a critical tool for accelerating economic growth. Policy implications of this evidence are that the banking sector in Zimbabwe must be supported with policies that encourage credit expansion and innovation to support economic growth. The equities market, on the other hand, requires more investor-friendly innovations and policies, especially with regard to trading efficiency and foreign investor participation in the primary market. In combination, these policy interventions should be able to magnify the positive effect of financial development on economic growth.en_US
dc.identifier.citationTyavambiza, T. Nyangara, D. Financial and Monetary Reforms and the Finance-Growth Relationship in Zimbabwe. International Journal of Economics and Financial Issues, 2015, 5(2), 590-602en_US
dc.identifier.issn2146-4138
dc.identifier.urihttp://196.220.97.103:4000/handle/123456789/604
dc.language.isoenen_US
dc.publisherEconJournalsen_US
dc.relation.ispartofseriesInternational Journal of Economics and Financial Issues;5 (2)
dc.subjectFinancial developmenten_US
dc.subjectEconomic growthen_US
dc.subjectFinancial reformsen_US
dc.subjectGranger casualityen_US
dc.titleFinancial and Monetary Reforms and the Finance-Growth Relationship in Zimbabween_US
dc.typeArticleen_US
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