Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach
This paper examines the causal relationship between financial development (measured as Kaopen index and Line and Milesi-Ferreti index), trade openness and economic growth for 16 MENA countries within the panel co-integration techniques, panel VAR model and TYDL (Toda, Yamamoto, Dolado and Lutkepohl)...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2017-03-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/1259.pdf
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| _version_ | 1831739971878256640 |
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| author | Hicham AYAD Mostéfa BELMOKADDEM |
| author_facet | Hicham AYAD Mostéfa BELMOKADDEM |
| author_sort | Hicham AYAD |
| collection | DOAJ |
| description | This paper examines the causal relationship between financial development (measured
as Kaopen index and Line and Milesi-Ferreti index), trade openness and economic growth for 16
MENA countries within the panel co-integration techniques, panel VAR model and TYDL (Toda,
Yamamoto, Dolado and Lutkepohl) Granger causality (1996), the empirical results show that both
of finance-led growth and trade-led growth hypothesis seem to be rejected for the group as a
whole. The results imply that financial development and trade liberalization do not seem to have
made a significant impulse on economic growth for the period 1980-2014. |
| first_indexed | 2024-12-21T13:48:55Z |
| format | Article |
| id | doaj.art-fa6b9e44d0d046cfacb7b53c9932c654 |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-12-21T13:48:55Z |
| publishDate | 2017-03-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-fa6b9e44d0d046cfacb7b53c9932c6542022-12-21T19:01:47ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292017-03-01XXIV123324618418678Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approachHicham AYAD0Mostéfa BELMOKADDEM1 University of Abu Bakr Belkaid Tlmecen, Algeria University of Abu Bakr Belkaid Tlmecen, Algeria This paper examines the causal relationship between financial development (measured as Kaopen index and Line and Milesi-Ferreti index), trade openness and economic growth for 16 MENA countries within the panel co-integration techniques, panel VAR model and TYDL (Toda, Yamamoto, Dolado and Lutkepohl) Granger causality (1996), the empirical results show that both of finance-led growth and trade-led growth hypothesis seem to be rejected for the group as a whole. The results imply that financial development and trade liberalization do not seem to have made a significant impulse on economic growth for the period 1980-2014. http://store.ectap.ro/articole/1259.pdf Financial developmentTrade opennessKaopen indexMilesi-Ferreti indexTYDL Granger causality |
| spellingShingle | Hicham AYAD Mostéfa BELMOKADDEM Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach Theoretical and Applied Economics Financial development Trade openness Kaopen index Milesi-Ferreti index TYDL Granger causality |
| title | Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach |
| title_full | Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach |
| title_fullStr | Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach |
| title_full_unstemmed | Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach |
| title_short | Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach |
| title_sort | financial development trade openness and economic growth in mena countries tydl panel causality approach |
| topic | Financial development Trade openness Kaopen index Milesi-Ferreti index TYDL Granger causality |
| url |
http://store.ectap.ro/articole/1259.pdf
|
| work_keys_str_mv | AT hichamayad financialdevelopmenttradeopennessandeconomicgrowthinmenacountriestydlpanelcausalityapproach AT mostefabelmokaddem financialdevelopmenttradeopennessandeconomicgrowthinmenacountriestydlpanelcausalityapproach |