{"title":"博茨瓦纳的金融-增长关系:多元因果关系","authors":"Brian Muyambi̇ri̇, Nancy Neoyame Chabaefe","doi":"10.20897/DJFM/2634","DOIUrl":null,"url":null,"abstract":"This paper evaluates the dynamic causal relationship between financial development, savings, investment and economic growth in Botswana from 1976-2014 by employing a multivariate causality model. Results reveal that it is chiefly investment that drives the bank-related and stock exchange-based financial sectors in the short run. Stock exchange-based financial development drives bank-related financial development and savings in both the short run and the long run. While, savings are found to Granger-cause investment. Economic growth Granger-causes investment and savings, both, in the short run and long run. Further, only bank-related financial development is found to Granger-cause economic growth in Botswana.","PeriodicalId":263610,"journal":{"name":"Dutch Journal of Finance and Management","volume":"6 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2018-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"46","resultStr":"{\"title\":\"The Finance – Growth Nexus in Botswana: A Multivariate Causal Linkage\",\"authors\":\"Brian Muyambi̇ri̇, Nancy Neoyame Chabaefe\",\"doi\":\"10.20897/DJFM/2634\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper evaluates the dynamic causal relationship between financial development, savings, investment and economic growth in Botswana from 1976-2014 by employing a multivariate causality model. Results reveal that it is chiefly investment that drives the bank-related and stock exchange-based financial sectors in the short run. Stock exchange-based financial development drives bank-related financial development and savings in both the short run and the long run. While, savings are found to Granger-cause investment. Economic growth Granger-causes investment and savings, both, in the short run and long run. Further, only bank-related financial development is found to Granger-cause economic growth in Botswana.\",\"PeriodicalId\":263610,\"journal\":{\"name\":\"Dutch Journal of Finance and Management\",\"volume\":\"6 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2018-08-27\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"46\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Dutch Journal of Finance and Management\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.20897/DJFM/2634\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Dutch Journal of Finance and Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.20897/DJFM/2634","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The Finance – Growth Nexus in Botswana: A Multivariate Causal Linkage
This paper evaluates the dynamic causal relationship between financial development, savings, investment and economic growth in Botswana from 1976-2014 by employing a multivariate causality model. Results reveal that it is chiefly investment that drives the bank-related and stock exchange-based financial sectors in the short run. Stock exchange-based financial development drives bank-related financial development and savings in both the short run and the long run. While, savings are found to Granger-cause investment. Economic growth Granger-causes investment and savings, both, in the short run and long run. Further, only bank-related financial development is found to Granger-cause economic growth in Botswana.
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