FINANCIAL DEVELOPMENT, ECONOMIC FREEDOM AND ECONOMIC GROWTH: NEW EVIDENCE FROM TUNISIA
This article investigates the effect of financial development on economic growth conditions well-developed institutions in Tunisia as a case study during the period 1980-2014, using the generalized moment method (GMM) to analyze the panel data. We have empirically examined the relationship between...
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| Format: | Article |
| Language: | English |
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Faculty of Economics, University of Tuzla
2017-11-01
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| Series: | Economic Review |
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| Online Access: | http://er.ef.untz.ba/index.php/er/article/view/97 |
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| author | Zaïbi Oussama Ahmed Hachicha Fatma Hachicha |
| author_facet | Zaïbi Oussama Ahmed Hachicha Fatma Hachicha |
| author_sort | Zaïbi Oussama |
| collection | DOAJ |
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This article investigates the effect of financial development on economic growth conditions well-developed institutions in Tunisia as a case study during the period 1980-2014, using the generalized moment method (GMM) to analyze the panel data. We have empirically examined the relationship between financial development and institutions using the index of economic freedom as an institutional variable. It has been found that economic freedom can be used as a proxy of developed institutions and that the effect of financial development on economic growth improves in the presence of the variable of economic freedom. We have also found that economic freedom is beneficial to growth and favors the relationship between financial development and the developed institutions and their combined effects on economic growth. These findings suggest the need to promote greater economic freedom and well-developed institutions to improve the relationship between financial development and economic growth.
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| format | Article |
| id | doaj-art-8a276e1b979b4c97a4b81d0f32edb87c |
| institution | Kabale University |
| issn | 1512-8962 2303-680X |
| language | English |
| publishDate | 2017-11-01 |
| publisher | Faculty of Economics, University of Tuzla |
| record_format | Article |
| series | Economic Review |
| spelling | doaj-art-8a276e1b979b4c97a4b81d0f32edb87c2025-02-10T00:31:08ZengFaculty of Economics, University of TuzlaEconomic Review1512-89622303-680X2017-11-01152FINANCIAL DEVELOPMENT, ECONOMIC FREEDOM AND ECONOMIC GROWTH: NEW EVIDENCE FROM TUNISIAZaïbi Oussama0Ahmed Hachicha 1Fatma Hachicha2 Department of Economic Development, Faculty of Economics and Management of Sfax, Tunisia Department of Economic Development, Faculty of Economics and Management of Sfax, TunisiaDepartment of Finance, Institute of Higher Commercial Studies of Sfax, Tunisia This article investigates the effect of financial development on economic growth conditions well-developed institutions in Tunisia as a case study during the period 1980-2014, using the generalized moment method (GMM) to analyze the panel data. We have empirically examined the relationship between financial development and institutions using the index of economic freedom as an institutional variable. It has been found that economic freedom can be used as a proxy of developed institutions and that the effect of financial development on economic growth improves in the presence of the variable of economic freedom. We have also found that economic freedom is beneficial to growth and favors the relationship between financial development and the developed institutions and their combined effects on economic growth. These findings suggest the need to promote greater economic freedom and well-developed institutions to improve the relationship between financial development and economic growth. http://er.ef.untz.ba/index.php/er/article/view/97financial developmentinstitutionseconomic freedomeconomic growth |
| spellingShingle | Zaïbi Oussama Ahmed Hachicha Fatma Hachicha FINANCIAL DEVELOPMENT, ECONOMIC FREEDOM AND ECONOMIC GROWTH: NEW EVIDENCE FROM TUNISIA Economic Review financial development institutions economic freedom economic growth |
| title | FINANCIAL DEVELOPMENT, ECONOMIC FREEDOM AND ECONOMIC GROWTH: NEW EVIDENCE FROM TUNISIA |
| title_full | FINANCIAL DEVELOPMENT, ECONOMIC FREEDOM AND ECONOMIC GROWTH: NEW EVIDENCE FROM TUNISIA |
| title_fullStr | FINANCIAL DEVELOPMENT, ECONOMIC FREEDOM AND ECONOMIC GROWTH: NEW EVIDENCE FROM TUNISIA |
| title_full_unstemmed | FINANCIAL DEVELOPMENT, ECONOMIC FREEDOM AND ECONOMIC GROWTH: NEW EVIDENCE FROM TUNISIA |
| title_short | FINANCIAL DEVELOPMENT, ECONOMIC FREEDOM AND ECONOMIC GROWTH: NEW EVIDENCE FROM TUNISIA |
| title_sort | financial development economic freedom and economic growth new evidence from tunisia |
| topic | financial development institutions economic freedom economic growth |
| url | http://er.ef.untz.ba/index.php/er/article/view/97 |
| work_keys_str_mv | AT zaibioussama financialdevelopmenteconomicfreedomandeconomicgrowthnewevidencefromtunisia AT ahmedhachicha financialdevelopmenteconomicfreedomandeconomicgrowthnewevidencefromtunisia AT fatmahachicha financialdevelopmenteconomicfreedomandeconomicgrowthnewevidencefromtunisia |