首页|Causal Relationship Between Financial Sector Development in SMEs & Economic Growth in Southern Africa Region
Causal Relationship Between Financial Sector Development in SMEs & Economic Growth in Southern Africa Region
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NSTL
This study explores causal relationship between financial sector development in SMEs and economic growth in Zimbabwe using annual time series and the Error Correction Model (ECM) framework. Monetary sector improvement and financial development stayed a controversial issue in Southern African nations. Market analysts have distinctive hypothetical and exact perspectives on the causal connection between monetary sector improvement and financial development, support supply driving speculation that monetary sector improvement prompts financial development & credit to request pulling speculation which proposes that monetary improvement results from financial development. Study made use of Unit Root Tests, Cointegration, ECM and Granger Causality Tests. Empirical findings revealed a bidirectional relationship between financial sector development in SMEs, economic & business growth. Business & Economic Growth enhance a strong and flexible legal system allowing banks to allocate resources (credit) more efficiently to SMEs. Credit should be accessed by all enterprise fairly to encourage the development of indigenous businesses through SMEs.
Small medium enterpriseGranger causalityEconomic growthTime seriesBusiness enterpriseGross domestic product
ABIGAIL CHIVANDI、HAPPINESS MAKUMBE、OLORUNJUWON SAMUEL
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Faculty of Commerce, Law and Management School of Business Sciences, University of the Witwatersrand
Faculty of Commerce, Law and Management School of Economic and Business Sciences, University of the Witwatersrand
Faculty of Commerce, Law and Management, School of Business Sciences, University of the Witwatersrand
NSTL
