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Walid Benayed, Nouha Bougharriou and Foued Badr Gabsi
''The threshold effect of political institutions on the finance-growth nexus: Evidence from Sub-Saharan Africa''
( 2020, Vol. 40 No.3 )
This study explores the effect of political institutions on the finance-growth nexus for a sample of 24 Sub-Saharan African countries over the period 2002-2011. Using the recent dynamic panel threshold model proposed by Seo and Shin (2016), we found that financial development has a growth-enhancing effect only in countries with strong political institutions. The results are robust across different institutional indicators.
Keywords: political institutions, financial development, dynamic panel threshold
JEL: O4 - Economic Growth and Aggregate Productivity: General
G2 - Financial Institutions and Services: General
Manuscript Received : Apr 18 2020 Manuscript Accepted : Sep 24 2020

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