Financial Liberalization and Growth in Ghana: An Application of the ARDL Bounds Testing Approach
19 Pages Posted: 26 Feb 2009 Last revised: 4 May 2009
Date Written: February 25, 2009
In this paper we examined the impact of the liberalization of financial sector on growth in small open economy of Ghana using time series data from 1970 to 2007. Using autoregressive distributed lag (ARDL) modelling approach we find long-run positive and significant impact of financial liberalization on per capita GDP growth.
Keywords: Financial Liberalisation, Economic Growth, Principal Component Method, Cointegration, ARDL Modelling
JEL Classification: C43, E65, G28, O16, G15, F43, O40, C23
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