Nyasha, Sheilla; Odhiambo, Nicholas M. - In: Contemporary economics 9 (2015) 1, pp. 93-108
This paper examines the impact of both bank- and market-based financial development on economic growth in South Africa … construct both bank- and market-based financial development indices. The study uses the newly developed autoregressive … distributed lag (ARDL) bounds testing approach to examine this linkage. The empirical results of this study show that there is a …