The effect of financial development on economic growth: the case of South Africa

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dc.contributor.advisorNikolaidou, Eftychia
dc.contributor.authorKawamya, Ackim
dc.date.accessioned2022-07-04T18:38:39Z
dc.date.available2022-07-04T18:38:39Z
dc.date.issued2022
dc.date.updated2022-06-10T10:39:23Z
dc.description.abstractThis study examines the effect of financial development on economic growth in South Africa. South Africa is an interesting case study, as it provides a relatively rich environment in terms of data. While the finance and business sector has grown significantly in the last ten years becoming a major contributor to gross domestic product, the South African economy has been struggling to register positive output in the preceding years. The study utilizes an Autoregressive Distributed Lag approach to cointegration and a Solow model to consider the role of banks, financial institutions, and financial markets independently. The results reveal that financial institutions have a considerable role in fostering economic development in the long run in South Africa. Conversely, financial market indicators do not have long run effects on growth in South Africa and in the short run, financial markets negatively influence growth. High foreign participation in the financial markets including ease of capital flows and currency volatility could be reasons for this result.
dc.identifier.apacitationKawamya, A. (2022). <i>The effect of financial development on economic growth: the case of South Africa</i>. (). ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/36612en_ZA
dc.identifier.chicagocitationKawamya, Ackim. <i>"The effect of financial development on economic growth: the case of South Africa."</i> ., ,Faculty of Commerce ,School of Economics, 2022. http://hdl.handle.net/11427/36612en_ZA
dc.identifier.citationKawamya, A. 2022. The effect of financial development on economic growth: the case of South Africa. . ,Faculty of Commerce ,School of Economics. http://hdl.handle.net/11427/36612en_ZA
dc.identifier.ris TY - Master Thesis AU - Kawamya, Ackim AB - This study examines the effect of financial development on economic growth in South Africa. South Africa is an interesting case study, as it provides a relatively rich environment in terms of data. While the finance and business sector has grown significantly in the last ten years becoming a major contributor to gross domestic product, the South African economy has been struggling to register positive output in the preceding years. The study utilizes an Autoregressive Distributed Lag approach to cointegration and a Solow model to consider the role of banks, financial institutions, and financial markets independently. The results reveal that financial institutions have a considerable role in fostering economic development in the long run in South Africa. Conversely, financial market indicators do not have long run effects on growth in South Africa and in the short run, financial markets negatively influence growth. High foreign participation in the financial markets including ease of capital flows and currency volatility could be reasons for this result. DA - 2022 DB - OpenUCT DP - University of Cape Town KW - Financial Development KW - Economic Growth KW - South Africa KW - ARDL LK - https://open.uct.ac.za PY - 2022 T1 - The effect of financial development on economic growth: the case of South Africa TI - The effect of financial development on economic growth: the case of South Africa UR - http://hdl.handle.net/11427/36612 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/36612
dc.identifier.vancouvercitationKawamya A. The effect of financial development on economic growth: the case of South Africa. []. ,Faculty of Commerce ,School of Economics, 2022 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/36612en_ZA
dc.language.rfc3066eng
dc.publisher.departmentSchool of Economics
dc.publisher.facultyFaculty of Commerce
dc.subjectFinancial Development
dc.subjectEconomic Growth
dc.subjectSouth Africa
dc.subjectARDL
dc.titleThe effect of financial development on economic growth: the case of South Africa
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationlevelMCom
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