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The relationship between financial market development and economic growth in the Southern Africa Development Community
Dissertation (MBA)--University of Pretoria, 2013.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2014
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| _version_ | 1867613522511265792 |
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| access_status_str | Open Access |
| author2 | Lampbrecht, Johan |
| author_browse | Lampbrecht, Johan |
| author_facet | Lampbrecht, Johan |
| collection | Thesis |
| dc_rights_str_mv | © 2014 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation (MBA)--University of Pretoria, 2013. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/39957 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:37:29.335Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2014 |
| publishDateRange | 2014 |
| publishDateSort | 2014 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/39957 The relationship between financial market development and economic growth in the Southern Africa Development Community Lampbrecht, Johan ichelp@gibs.co.za Pillay, Deevani UCTD Economics Dissertation (MBA)--University of Pretoria, 2013. The two opposing views on the finance-growth nexus can the compared to the “chicken and egg’ adage. The one school of economic thinking as proposed by Bagehot (1873) and Hick (1969) in Levine (1997, p.688) states that industrialisation in England was ignited by the availability of capital to undertake “immense works”. To support this argument, Schumpter (1912) in Levine (1997, p.688) contends that the banking institutions encourage technological innovation by identifying and supporting those entrepreneurs with the most innovative products or processes. In contrast to this, Levine (1997, p.688) also presents the arguments of those economists (Robertson [1952] and Lucas [1988]) who contend simply that finance follows enterprise and that financial markets are a consequence of growth. However, considerable empirical research on the subject of the nexus between financial market development and economic growth was carried out in the 1990’s, which supports the positive causal effect between financial market development and economic growth. The recent global financial crisis (GFC) has shed light on the impact that financial markets have on the economy of nations. For this reason, an investigation into the finance-growth nexus within the SADC regional context was undertaken. The study used data from 13 countries over a 19 year period from 1993 to 2011. The Granger causality results indicate that there is a demand-leading phenomenon where finance follows growth, however panel data regression models could not conclusively predict a relationship between economic growth and financial market development. However, it was found that the level of banking sector development did have the greatest impact on economic growth when compared to other financial market indicators. mngibs2014 Gordon Institute of Business Science (GIBS) MBA Unrestricted 2014-05-31T21:33:44Z 2014-05-31T21:33:44Z 2014-04-30 2013 Mini Dissertation Pillay, D 2013, The relationship between financial market development and economic growth in the Southern Africa Development Community, MBA Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/39957> http://hdl.handle.net/2263/39957 en © 2014 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Economics The relationship between financial market development and economic growth in the Southern Africa Development Community |
| title | The relationship between financial market development and economic growth in the Southern Africa Development Community |
| title_full | The relationship between financial market development and economic growth in the Southern Africa Development Community |
| title_fullStr | The relationship between financial market development and economic growth in the Southern Africa Development Community |
| title_full_unstemmed | The relationship between financial market development and economic growth in the Southern Africa Development Community |
| title_short | The relationship between financial market development and economic growth in the Southern Africa Development Community |
| title_sort | relationship between financial market development and economic growth in the southern africa development community |
| topic | UCTD Economics |
| url | http://hdl.handle.net/2263/39957 |