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Financial System Development and Economic Development in Malawi
The financial system development and economic development nexus has been a debate for over a decade. Both theory and empirical evidence provides conflicting evidence on the direction and nature of the relationship between financial system development and economic development. Results vary widely dep...
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| Format: | Thesis |
| Language: | English |
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School of Economics
2023
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| _version_ | 1867613300457472000 |
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| access_status_str | Open Access |
| author | Chikafa, Scora |
| author2 | Ndlovu, Godfrey |
| author_browse | Chikafa, Scora Ndlovu, Godfrey |
| author_facet | Ndlovu, Godfrey Chikafa, Scora |
| author_sort | Chikafa, Scora |
| collection | Thesis |
| description | The financial system development and economic development nexus has been a debate for over a decade. Both theory and empirical evidence provides conflicting evidence on the direction and nature of the relationship between financial system development and economic development. Results vary widely depending on whether one uses bank-based or market-based indicators of financial development. This paper seeks to address by using the composite indicator of financial development, developed by the International Monetary Fund( IMF), which captures depth, access, and efficiency of the financial system. Using yearly data of the period range 1980 to 2019, and employing an Autoregressive Distributed Lag (ARDL) cointegration technique or bound cointegration technique, the paper finds a significant long run negative relationship between financial system development and economic development, which runs from financial system development to economic development of Malawi. Therefore, in order to improve economic development, Malawi has been advised to improve its financial system through easy credit access and boosting its forex market, improve infrastructure and implement financial literacy programs that would teach citizens how best they can utilize resources given to them. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/37082 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:33:57.504Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | School of Economics |
| publisherStr | School of Economics |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/37082 Financial System Development and Economic Development in Malawi Chikafa, Scora Ndlovu, Godfrey Autoregressive Distributed Lag Model Economic Development Financial Development Index Malawi The financial system development and economic development nexus has been a debate for over a decade. Both theory and empirical evidence provides conflicting evidence on the direction and nature of the relationship between financial system development and economic development. Results vary widely depending on whether one uses bank-based or market-based indicators of financial development. This paper seeks to address by using the composite indicator of financial development, developed by the International Monetary Fund( IMF), which captures depth, access, and efficiency of the financial system. Using yearly data of the period range 1980 to 2019, and employing an Autoregressive Distributed Lag (ARDL) cointegration technique or bound cointegration technique, the paper finds a significant long run negative relationship between financial system development and economic development, which runs from financial system development to economic development of Malawi. Therefore, in order to improve economic development, Malawi has been advised to improve its financial system through easy credit access and boosting its forex market, improve infrastructure and implement financial literacy programs that would teach citizens how best they can utilize resources given to them. 2023-03-01T12:00:28Z 2023-03-01T12:00:28Z 2022 2023-02-20T12:24:12Z Master Thesis Masters MCom http://hdl.handle.net/11427/37082 eng application/pdf School of Economics Faculty of Commerce |
| spellingShingle | Autoregressive Distributed Lag Model Economic Development Financial Development Index Malawi Chikafa, Scora Financial System Development and Economic Development in Malawi |
| thesis_degree_str | Master's |
| title | Financial System Development and Economic Development in Malawi |
| title_full | Financial System Development and Economic Development in Malawi |
| title_fullStr | Financial System Development and Economic Development in Malawi |
| title_full_unstemmed | Financial System Development and Economic Development in Malawi |
| title_short | Financial System Development and Economic Development in Malawi |
| title_sort | financial system development and economic development in malawi |
| topic | Autoregressive Distributed Lag Model Economic Development Financial Development Index Malawi |
| url | http://hdl.handle.net/11427/37082 |
| work_keys_str_mv | AT chikafascora financialsystemdevelopmentandeconomicdevelopmentinmalawi |