Financial Development and Economic Growth in Namibia

Postrick Mushendami

ISBN 10: 3838384075 / ISBN 13: 9783838384078

Published by LAP LAMBERT Academic Publishing Jul 2010, 2010

About this Item

Neuware -The financial sector in Namibia is well developed and offers a wide range of services. This assertion can be supported by the ratio of broad money supply (M2) and the private sector credit to gross domestic product (GDP), which stood at 43 and 40 per cent respectively in 2004. Despite the observed level of financial sector development, real economic growth remained low, growing at 3 per cent on average during the past 12 years. This tend to suggest that there might not be a strong long run link between finance and economic output. This book therefore examines whether there is a long run relationship between financial development and economic growth in Namibia and hence determine the direction of causality. The book employs a two step Engle-Granger method of Cointegration; and a Granger Causality Test. Moreover, the book explores the history of banking in Namibia. The book is intended for undergraduate and graduate students of monetary, financial, macroeconomics and practitioners as well.Books on Demand GmbH, Überseering 33, 22297 Hamburg 68 pp. Englisch.

Seller Inventory # 9783838384078

Bibliographic Details

• Title: Financial Development and Economic Growth in Namibia
• Publisher: LAP LAMBERT Academic Publishing Jul 2010
• Publication Date: 2010
• Language: English
• ISBN 10: 3838384075
• ISBN 13: 9783838384078
• Binding: Taschenbuch
• Condition: Neu

About this title

Synopsis

The financial sector in Namibia is well developed and offers a wide range of services. This assertion can be supported by the ratio of broad money supply (M2) and the private sector credit to gross domestic product (GDP), which stood at 43 and 40 per cent respectively in 2004. Despite the observed level of financial sector development, real economic growth remained low, growing at 3 per cent on average during the past 12 years. This tend to suggest that there might not be a strong long run link between finance and economic output. This book therefore examines whether there is a long run relationship between financial development and economic growth in Namibia and hence determine the direction of causality. The book employs a two step Engle-Granger method of Cointegration; and a Granger Causality Test. Moreover, the book explores the history of banking in Namibia. The book is intended for undergraduate and graduate students of monetary, financial, macroeconomics and practitioners as well.

About the Author

Postrick Lifa Mushendami is a PhD Economics Student at the University of Durham(UK). He holds a MSc Financial Economics from the University of London(UK); MSc Economics and B.Econ from the University of Namibia. He graduated as a fellow of MEFMI in Monetary Policy Implementation with Distinction. He is a Senior Economist at the Bank of Namibia.