Financial Reforms, Financial Development, and Economic Growth in the Ivory Coast
This study investigates the relationship between financial development and economic growth in the Ivory Coast over the period from 1961 to 2014. The final goal of this research is to develop a procedure to identify the effects of financial reforms for the Ivory Coast economic growth. Therefore, to a...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2017-02-01
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| Series: | Economies |
| Subjects: | |
| Online Access: | http://www.mdpi.com/2227-7099/5/1/7 |
| _version_ | 1798034740924645376 |
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| author | Vassiki Sanogo Richard K. Moussa |
| author_facet | Vassiki Sanogo Richard K. Moussa |
| author_sort | Vassiki Sanogo |
| collection | DOAJ |
| description | This study investigates the relationship between financial development and economic growth in the Ivory Coast over the period from 1961 to 2014. The final goal of this research is to develop a procedure to identify the effects of financial reforms for the Ivory Coast economic growth. Therefore, to achieve this goal, we first conducted a common component analysis (CCA) on our time series data to create: (1) a variable that would be the most appropriate proxy for the financial development; and (2) a vector of control variables for economic growth. Second, a vector autoregression model (VAR) with restriction was used as an appropriate specification of the dynamic relationship between the proxy of financial development, economic growth and other important factors of that growth (vector of control variables). Results suggest that in the Ivory Coast, growth in financial development is synonymous with the overall economic growth of the national economy. This study addresses the controversy over the appropriate proxy for the financial development in the Ivory Coast and it establishes a causal relationship between the financial development and the national economic growth. |
| first_indexed | 2024-04-11T20:48:25Z |
| format | Article |
| id | doaj.art-9684befc1f3c4ca9a7311c22580fe4a2 |
| institution | Directory Open Access Journal |
| issn | 2227-7099 |
| language | English |
| last_indexed | 2024-04-11T20:48:25Z |
| publishDate | 2017-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Economies |
| spelling | doaj.art-9684befc1f3c4ca9a7311c22580fe4a22022-12-22T04:03:57ZengMDPI AGEconomies2227-70992017-02-0151710.3390/economies5010007economies5010007Financial Reforms, Financial Development, and Economic Growth in the Ivory CoastVassiki Sanogo0Richard K. Moussa1Center for Economic Forecasting and Analysis (CEFA), Florida State University, Tallahassee, FL 32306, USAThéorie Economique, Modélisation et Applications (ThEMA), Université de Cergy-Pontoise, Cergy-Pontoise 95011, FranceThis study investigates the relationship between financial development and economic growth in the Ivory Coast over the period from 1961 to 2014. The final goal of this research is to develop a procedure to identify the effects of financial reforms for the Ivory Coast economic growth. Therefore, to achieve this goal, we first conducted a common component analysis (CCA) on our time series data to create: (1) a variable that would be the most appropriate proxy for the financial development; and (2) a vector of control variables for economic growth. Second, a vector autoregression model (VAR) with restriction was used as an appropriate specification of the dynamic relationship between the proxy of financial development, economic growth and other important factors of that growth (vector of control variables). Results suggest that in the Ivory Coast, growth in financial development is synonymous with the overall economic growth of the national economy. This study addresses the controversy over the appropriate proxy for the financial development in the Ivory Coast and it establishes a causal relationship between the financial development and the national economic growth.http://www.mdpi.com/2227-7099/5/1/7financial developmenteconomic growthvector autoregression modelcommon component analysiscausalityIvory Coast |
| spellingShingle | Vassiki Sanogo Richard K. Moussa Financial Reforms, Financial Development, and Economic Growth in the Ivory Coast Economies financial development economic growth vector autoregression model common component analysis causality Ivory Coast |
| title | Financial Reforms, Financial Development, and Economic Growth in the Ivory Coast |
| title_full | Financial Reforms, Financial Development, and Economic Growth in the Ivory Coast |
| title_fullStr | Financial Reforms, Financial Development, and Economic Growth in the Ivory Coast |
| title_full_unstemmed | Financial Reforms, Financial Development, and Economic Growth in the Ivory Coast |
| title_short | Financial Reforms, Financial Development, and Economic Growth in the Ivory Coast |
| title_sort | financial reforms financial development and economic growth in the ivory coast |
| topic | financial development economic growth vector autoregression model common component analysis causality Ivory Coast |
| url | http://www.mdpi.com/2227-7099/5/1/7 |
| work_keys_str_mv | AT vassikisanogo financialreformsfinancialdevelopmentandeconomicgrowthintheivorycoast AT richardkmoussa financialreformsfinancialdevelopmentandeconomicgrowthintheivorycoast |