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Financial Market Inclusion and Economic Growth: Evidence from Algeria

CHIAD, Faycal and Aouissi, Amine and Lahsasna, Ahcene (2021): Financial Market Inclusion and Economic Growth: Evidence from Algeria. Published in: Empirical Economics Letters , Vol. 10, No. 20 (October 2021): pp. 1793-1812.

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In this paper, we investigated the relationship between financial inclusion (FI), trade openness (TO), human development (HD), and GDP growth in Algeria. Our data set covers annual times series data from 1980 to 2018. The autoregressive distributed lag (ARDL) bounds test was used to examine the cointegration between variables due to mixed orders of integration I(0) and I(1).The results indicate that financial inclusion, trade openness, human development have a positive and significant impact on economic growth in the short and long-run, thereby confirming the strength of the finance-growth connections. Granger-causality test confirms that there is bi-directional causality between financial inclusion and economic growth.

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