Bank Competition, Stock Market and Economic Growth in Ghana

0502 economics and business 05 social sciences 8. Economic growth 1. No poverty Bank Competition, Stock Market, Cointegration, ARDL
DOI: 10.5430/ijba.v2n4p33 Publication Date: 2011-11-23T22:10:56Z
ABSTRACT
The paper empirically investigates the relationship between bank competition, stock market and economic growth in Ghana using time series data for the period between 1992 and 2009. Short and long run relationship were established within the frameworks of Granger causality and the Autoregressive Distributed Lag (ARDL)/ Dynamic Ordinary Least Square (OLS) approach respectively. It was found that bank competition and stock market development granger cause economic growth in Ghana. Also, in the long run, banking competition is good for economic growth. However, there is a disproportionate response of economic growth to stock market development. It is recommended that policy to promote banking competition should be vigorously pursued.
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