文章基本信息

标题：The Differential Impact of Financial Intermediation on Economic Growth in Oil-Dependent Economies
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作者：Anthony Anyanwu ; Christopher Gan ; Baiding Hu 等
期刊名称：Mutis
印刷版ISSN：2256-1498
出版年度：2018
卷号：10
期号：3
页码：267-284
出版社：Universidad Jorge Tadeo Lozano
摘要：This paper analyses the relationship between bank credit and economic growth. We extend existing literature by treating separately the oil and non-oil sectors of 28 oil-dependent economies from 1990-2012. We employ panel cointegration and pooled mean group estimation techniques which are appropriate for drawing conclusions from dynamic heterogenous panels. The results of the panel cointegration test indicate that bank credit has no significant long-run relationship with non-oil GDP per capita. The results of the pooled mean group estimator reveal no significant long-run impact of bank credit on non-oil GDP per capita. Overall results suggest that banks do not yet provide adequate credit to stimulate non-oil economic growth. The policy implication of our findings is that the financial sector should be more involved in productive investment activities to promote inclusive growth.
关键词：banks;oil-dependent;non-oil sector;credit;growth