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| Ibrahim N Ouattara |
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| ''A bootstrap panel granger causality analysis of the relationships between financial sector development and globalization in sub-saharan african countries'' |
| ( 2020, Vol. 40 No.4 ) |
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| This paper explores the causal relationship between financial sector development and globalization for twenty-one sub-Saharan African (SSA, hereafter) countries during the period 1980-2017. To measure financial sector development, we use a more comprehensive index of financial development, meanwhile, we use the economic dimension of globalization and both the de facto and the de jure economic globalization indices. Applying a panel bootstrap causality test which controls for both cross-sectional dependence and heterogeneity across countries, empirical results provide some evidence of causality between financial development and economic globalization indices though there is no causality for half of the sample. |
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| Keywords: Financial sector development; Globalization, Cross-sectional dependency; Slope heterogeneity; bootstrap Granger causality; sub-Sahara Africa. |
JEL: F3 - International Finance: General
F4 - Macroeconomic Aspects of International Trade and Finance: General |
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| Manuscript Received : Oct 27 2020 | | Manuscript Accepted : Dec 02 2020 |
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