Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/249063 
Year of Publication: 
2021
Series/Report no.: 
AGDI Working Paper No. WP/21/052
Publisher: 
African Governance and Development Institute (AGDI), Yaoundé
Abstract: 
In this study, we examine the benefits of financial integrations in four of Africa regional trade blocs: COMESA, ECCAS, CEN-SAD and ECOWAS. We regress de-jure and de-facto indices of financial integration on growth outcome using the dynamic system generalised method of moment and pooled mean group estimation procedure. Findings revealed that total foreign asset and liabilities and foreign liabilities as a percentage of GDP are inversely related to growth outcomes in COMESA. In CEN-SAD, we found that foreign liabilities as a percentage of GDP hurts growth. In ECCAS, growth-financial integration relationship showed that foreign liabilities as a percentage of GDP inhibit real per capita GDP in the long run. In ECOWAS, foreign liabilities as a percentage of GDP is inversely related to real per capita GDP in the long run. Policy implications of our findings were discussed.
Subjects: 
Financial Integration
Economic Growth
system GMM
Pooled Mean Group
Regional Trade Bloc
Africa
JEL: 
F36
F43
O47
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.