Financial development, human capital accumulation and economic growth: empirical evidence from the Economic Community of West African States (ECOWAS)

Yusoff, Mohammed (2015) Financial development, human capital accumulation and economic growth: empirical evidence from the Economic Community of West African States (ECOWAS). In: Global Conference on Business & Social Science (GCBSS-2014) , 15th & 16th December 2014, Kuala Lumpur.

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Abstract

Recently, much attention is given to financial-growth nexus, but largely via the physical capital accumulation channel. This study differed by examining this nexus, via the human capital accumulation channel in the ECOWAS region. It employed panel cointegration approaches as well as the FMOLS, DOLS. The results revealed that bank private credit and domestic private credit contribute significantly to economic growth in the ECOWAS, both directly and through their influence on human capital accumulation. These results imply that providing access to credit to both enterprises and individuals, through appropriate financial policies, will encourage economic growth in the ECOWAS region.

Item Type:	Conference or Workshop Item (UNSPECIFIED)
Additional Information:	4178/46031 Procedia - Social and Behavioral Sciences 172 ( 2015 ) 96 – 103
Uncontrolled Keywords:	Financial development, human capital, economic growth, ECOWAS, panel cointegration, panel causality.
Subjects:	H Social Sciences > HF Commerce > HF3000 By region or country
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User:	Professor Mohammed Yusoff
Date Deposited:	01 Dec 2015 16:17
Last Modified:	23 May 2016 08:54
URI:	http://irep.iium.edu.my/id/eprint/46031

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