{"id":"https://openalex.org/W2066246902","doi":"https://doi.org/10.1002/jid.1660","title":"The finance-growth nexus in Sub-Saharan Africa: Panel cointegration and causality tests","display_name":"The finance-growth nexus in Sub-Saharan Africa: Panel cointegration and causality tests","publication_year":2010,"publication_date":"2010-01-07","ids":{"openalex":"https://openalex.org/W2066246902","doi":"https://doi.org/10.1002/jid.1660","mag":"2066246902"},"language":"en","primary_location":{"id":"doi:10.1002/jid.1660","doi":"https://doi.org/10.1002/jid.1660","is_oa":false,"landing_page_url":"https://doi.org/10.1002/jid.1660","pdf_url":null,"source":{"id":"https://openalex.org/S96563387","display_name":"Journal of International Development","issn_l":"0954-1748","issn":["0954-1748","1099-1328"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of International Development","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5030121759","display_name":"Babajide Fowowe","orcid":"https://orcid.org/0000-0001-8402-4867","observed_orcids":["https://orcid.org/0000-0001-8402-4867"]},"institutions":[{"id":"https://openalex.org/I181631907","display_name":"University of Ibadan","ror":"https://ror.org/03wx2rr30","country_code":"NG","type":"education","lineage":["https://openalex.org/I181631907"]}],"countries":["NG"],"is_corresponding":true,"raw_author_name":"Babajide Fowowe","raw_affiliation_strings":["Department of Economics, University of Ibadan, Nigeria"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, University of Ibadan, Nigeria","institution_ids":["https://openalex.org/I181631907"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5030121759"],"corresponding_institution_ids":["https://openalex.org/I181631907"],"apc_list":{"value":3350,"currency":"USD","value_usd":3350},"apc_paid":null,"fwci":2.8704,"has_fulltext":false,"cited_by_count":46,"citation_normalized_percentile":{"value":0.93402792,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"23","issue":"2","first_page":"220","last_page":"239"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9901999831199646,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9901999831199646,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13867","display_name":"Economic Growth and Development","score":0.005900000222027302,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.00139999995008111,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/finance-growth-nexus","display_name":"finance-growth nexus","score":0.9440000057220459},{"id":"https://openalex.org/keywords/financial-development","display_name":"financial development","score":1.0},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":1.0},{"id":"https://openalex.org/keywords/causality","display_name":"causality","score":0.6819999814033508},{"id":"https://openalex.org/keywords/sub-saharan-africa","display_name":"sub-Saharan Africa","score":0.7990000247955322},{"id":"https://openalex.org/keywords/panel-cointegration","display_name":"panel cointegration","score":0.7319999933242798},{"id":"https://openalex.org/keywords/heterogeneity-across-countries","display_name":"country heterogeneity","score":0.7089999914169312}],"concepts":[{"id":"https://openalex.org/C145162277","wikidata":"https://www.wikidata.org/wiki/Q1751675","display_name":"Cointegration","level":2,"score":0.9251359105110168},{"id":"https://openalex.org/C148609458","wikidata":"https://www.wikidata.org/wiki/Q7021281","display_name":"Nexus (standard)","level":2,"score":0.8814421892166138},{"id":"https://openalex.org/C64357122","wikidata":"https://www.wikidata.org/wiki/Q1149766","display_name":"Causality (physics)","level":2,"score":0.8060826063156128},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.720414936542511},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.5629727840423584},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.48375487327575684},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.4613945484161377},{"id":"https://openalex.org/C47768531","wikidata":"https://www.wikidata.org/wiki/Q1127188","display_name":"Development economics","level":1,"score":0.3779488801956177},{"id":"https://openalex.org/C149635348","wikidata":"https://www.wikidata.org/wiki/Q193040","display_name":"Embedded system","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1002/jid.1660","doi":"https://doi.org/10.1002/jid.1660","is_oa":false,"landing_page_url":"https://doi.org/10.1002/jid.1660","pdf_url":null,"source":{"id":"https://openalex.org/S96563387","display_name":"Journal of International Development","issn_l":"0954-1748","issn":["0954-1748","1099-1328"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of International Development","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:wly:jintdv:v:23:y:2011:i:2:p:220-239","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1002/jid.1660","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.5217000246047974,"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals"},{"score":0.48510000109672546,"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":44,"referenced_works":["https://openalex.org/W161621809","https://openalex.org/W1520469577","https://openalex.org/W1549334411","https://openalex.org/W1585917194","https://openalex.org/W1588189399","https://openalex.org/W1606377008","https://openalex.org/W1967206959","https://openalex.org/W1968641947","https://openalex.org/W1969230115","https://openalex.org/W1972766203","https://openalex.org/W1975603656","https://openalex.org/W1976386631","https://openalex.org/W1978775682","https://openalex.org/W1993622537","https://openalex.org/W1998686299","https://openalex.org/W2018526433","https://openalex.org/W2018944810","https://openalex.org/W2035554302","https://openalex.org/W2039882728","https://openalex.org/W2041692102","https://openalex.org/W2053241257","https://openalex.org/W2055686677","https://openalex.org/W2076578229","https://openalex.org/W2077358653","https://openalex.org/W2078618079","https://openalex.org/W2082993526","https://openalex.org/W2093621336","https://openalex.org/W2093813869","https://openalex.org/W2102897370","https://openalex.org/W2117513178","https://openalex.org/W2134209994","https://openalex.org/W2143428876","https://openalex.org/W2144357229","https://openalex.org/W2150728507","https://openalex.org/W2150996390","https://openalex.org/W2187332388","https://openalex.org/W2587468467","https://openalex.org/W2953500076","https://openalex.org/W2954133300","https://openalex.org/W3122790390","https://openalex.org/W3123833473","https://openalex.org/W3125147766","https://openalex.org/W3150280620","https://openalex.org/W4234499321"],"related_works":["https://openalex.org/W2128416383","https://openalex.org/W6888595822","https://openalex.org/W2111977382","https://openalex.org/W2540396379","https://openalex.org/W1968641947","https://openalex.org/W1962707184","https://openalex.org/W2286300161","https://openalex.org/W7212115774","https://openalex.org/W6926483143","https://openalex.org/W2803036470"],"abstract_inverted_index":{"This":[0,68],"paper":[1],"examines":[2],"the":[3,87],"causal":[4],"relationship":[5],"between":[6,35,62],"financial":[7,63,76,90],"development":[8,64,77,100],"and":[9,27,46,65,78,89,97],"economic":[10,66],"growth":[11],"using":[12,24],"data":[13],"for":[14,81],"17":[15],"countries":[16,36],"in":[17],"Sub-Saharan":[18,83],"Africa.":[19],"The":[20,53],"analysis":[21],"is":[22,58,70],"conducted":[23],"panel":[25],"cointegration":[26],"causality":[28,61],"tests":[29],"which":[30,37],"take":[31],"account":[32],"of":[33,42,75],"heterogeneity":[34],"arises":[38],"as":[39],"a":[40],"result":[41,69],"different":[43],"country":[44],"intercepts":[45],"varying":[47],"regression":[48],"coefficients":[49],"slopes":[50],"across":[51],"countries.":[52],"results":[54],"show":[55],"that":[56,80],"there":[57],"homogenous":[59],"bi-directional":[60],"growth.":[67],"robust":[71],"to":[72,94],"alternative":[73],"measures":[74],"implies":[79],"these":[82],"African":[84],"countries,":[85],"both":[86],"real":[88],"sectors":[91],"are":[92],"complementary":[93],"each":[95],"other":[96],"their":[98],"simultaneous":[99],"should":[101],"be":[102],"encouraged.":[103],"Copyright":[104],"\u00a9":[105],"2010":[106],"John":[107],"Wiley":[108],"&":[109],"Sons,":[110],"Ltd.":[111]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":5},{"year":2019,"cited_by_count":6},{"year":2018,"cited_by_count":4},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":7},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}