Nonlinearities in financial development–economic growth nexus: Evidence from sub-Saharan Africa
Integrity signals
Registry
Cites
Statistics
Claims the paper makes
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
The existence of financial institutions and services precedes realising economic growth.
“Against this argument, it is possible to conclude that the existence of financial institutions and services precedes realising economic growth (Beck and Levine 2004; Odhiambo 2009; Ibrahim and Alagidede 2018).”
From Financial Inclusion and Economic Growth in Sub-Saharan Africa—A Panel ARDL and Granger Non-Causality Approach (2023) · cites this paper as Ibrahim and Alagidede 2018
The structure of an economy has its own impact on the relationship between financial development and economic growth.
“Contemporary empirical evidence suggests that the structure of an economy has its own impact on the relationship between financial development and economic growth (Ibrahim and Alagidede 2018; Sohag et al. 2015).”
From Financial Inclusion and Economic Growth in Sub-Saharan Africa—A Panel ARDL and Granger Non-Causality Approach (2023) · cites this paper as Ibrahim and Alagidede 2018
The results differ from Law and Singh (2014), Arcand, Berkes, and Panizza (2015), and Ibrahim and Alagidede (2018).
“Our results also differ from Law and Singh (2014), Arcand, Berkes, and Panizza (2015), and Ibrahim and Alagidede (2018).”
From How Does Financial Development Impact Economic Growth in Pakistan?: New Evidence from Threshold Model (2020) · cites this paper as Ibrahim and Alagidede (2018)
Ibrahim and Alagidede (2018) find that financial development only has a significant and positive effect on growth after an initial financial development threshold-level, at odds with our results.
“Based on data from 29 SSA countries over the period of 1980-2014, they find that financial development only has a significant and positive effect on growth after an initial financial development threshold-level, at odds with our results.”
From Finance-growth nexus in sub-Saharan Africa (2021) · cites this paper as Ibrahim and Alagidede (2018)
Smoothing the business cycle effect and controlling for endogeneity with the estimation of a dynamic threshold model reinforce the findings in the large sample and the alternative estimation method, but do not support Ibrahim and Alagidede's (2018) results.
“Hence, smoothing the business cycle effect and controlling for endogeneity with the estimation of a dynamic threshold model reinforce our findings in the large sample and the alternative estimation method, but do not support Ibrahim and Alagidede's (2018) results.”
From Finance-growth nexus in sub-Saharan Africa (2021) · cites this paper as Ibrahim and Alagidede's (2018)
Ibrahim and Alagidede's findings lend support to the hypothesis that financial development has a positive and significant impact on growth, only when initial income, financial development or human capital are sufficiently high.
“Their findings lend support to the hypothesis that financial development has a positive and significant impact on growth, only when initial income, financial development or human capital are sufficiently high.”
From Finance-growth nexus in sub-Saharan Africa (2021) · cites this paper as Ibrahim & Alagidede 2018
Only Ibrahim and Alagidede (2018) assess the existence of a non-linear relationship for a sample of 29 sub-Saharan African countries during the period 1980-2014.
“However, to the best of our knowledge, only Ibrahim and Alagidede (2018) assess the existence of a non-linear relationship for a sample of 29 sub-Saharan African (SSA) countries during the period 1980-2014.”
From Finance-growth nexus in sub-Saharan Africa (2021) · cites this paper as Ibrahim & Alagidede 2018
The paper's inverted U-shaped relationship result seemed incompatible with Ibrahim and Alagidede's (2018) results of a threshold above (below) with a positive and significant (nonsignificant) relationship between financial development and growth.
“Moreover, since our inverted U -shaped relationship result seemed incompatible with the results of Ibrahim and Alagidede (2018) of the existence of a threshold above (below) with which there is a positive and significant (nonsignificant) relationship between financial development and growth, we also applied a threshold estimation technique.”
From Finance-growth nexus in sub-Saharan Africa (2021) · cites this paper as Ibrahim and Alagidede (2018)
Cites
The Theory of Economic Development
Schumpeter, J. A., & Backhaus, U. (2003) · The European heritage in economics and the social sciences · doi:10.1007/0-306-48082-4_3 · Cited by 22,631 · see citing works
Financial intermediation and growth: Causality and causes
Levine, R., Loayza, N., & Beck, T. (2000) · Journal of Monetary Economics · doi:10.1016/s0304-3932(00)00017-9 · Cited by 4,414 · see citing works
Sample Splitting and Threshold Estimation
Hansen, B. E. (2000) · Econometrica · doi:10.1111/1468-0262.00124 · Cited by 2,906 · see citing works
Financial Development, Growth, and the Distribution of Income
Greenwood, J., & Jovanovic, B. (1990) · Journal of Political Economy · doi:10.1086/261720 · Cited by 2,469 · see citing works
Financial Development, Growth, and the Distribution of Income
Greenwood, J., & Jovanovic, B. (1989) · National Bureau of Economic Research · doi:10.3386/w3189 · Cited by 2,452 · see citing works
Inference When a Nuisance Parameter Is Not Identified Under the Null Hypothesis
Hansen, B. E. (1996) · Econometrica · doi:10.2307/2171789 · Cited by 2,312 · see citing works
Was Prometheus Unbound by Chance? Risk, Diversification, and Growth
Acemoğlu, D., & Zilibotti, F. (1997) · Journal of Political Economy · doi:10.1086/262091 · Cited by 1,516 · see citing works
Financial development and economic growth: evidence from panel unit root and cointegration tests
Christopoulos, D. K., & Tsionas, E. G. (2003) · Journal of Development Economics · doi:10.1016/j.jdeveco.2003.03.002 · Cited by 1,057 · see citing works
Introducing a New Broad-based Index of Financial Development
Svirydzenka, K. (2016) · IMF Working Paper · doi:10.5089/9781513583709.001 · Cited by 1,006 · see citing works
The Effect of Financial Development on Convergence: Theory and Evidence*
Aghion, P., Howitt, P., & Mayer-Foulkes, D. (2005) · Quarterly Journal of Economics · doi:10.1162/qjec.2005.120.1.173 · Cited by 962 · see citing works
Financial development and economic growth: New evidence from panel data
Hassan, M. K., Sanchez, B., & Yu, J.-S. (2011) · The Quarterly Review of Economics and Finance · doi:10.1016/j.qref.2010.09.001 · Cited by 795 · see citing works
Does too much finance harm economic growth?
Law, S. H., & Singh, N. (2014) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2013.12.020 · Cited by 789 · see citing works
Does one size fit all?: a reexamination of the finance and growth relationship
Rioja, F. K., & Valev, N. T. (2004) · Journal of Development Economics · doi:10.1016/j.jdeveco.2003.06.006 · Cited by 778 · see citing works
Technological choice, financial markets and economic development
Saint‐Paul, G. (1992) · European Economic Review · doi:10.1016/0014-2921(92)90056-3 · Cited by 748 · see citing works
(2012) · RePEc: Research Papers in Economics · Cited by 618 · see citing works
Some Impossibility Theorems in Econometrics With Applications to Structural and Dynamic Models
Dufour, J. (1997) · Econometrica · doi:10.2307/2171740 · Cited by 577 · see citing works
Non-linearity between finance and growth
Deidda, L., & Fattouh, B. (2002) · Economics Letters · doi:10.1016/s0165-1765(01)00571-7 · Cited by 458 · see citing works
The Effect of Financial Development on Convergence: Theory and Evidence
Aghion, P., Howitt, P. W., & Mayer‐Foulkes, D. (2004) · National Bureau of Economic Research · doi:10.3386/w10358 · Cited by 428 · see citing works
Same Financial Development yet Different Economic Growth--Why?
Shen, C., & Lee, C. (2006) · Journal of money credit and banking · doi:10.1353/mcb.2006.0095 · Cited by 371 · see citing works
Financial development, real sector, and economic growth
Ductor, L., & Grechyna, D. (2015) · International Review of Economics & Finance · doi:10.1016/j.iref.2015.01.001 · Cited by 347 · see citing works
An Empirical Reassessment of the Relationship between Finance and GrowthPreprint
Favara, G. (2003) · SSRN Electronic Journal · doi:10.2139/ssrn.879199 · Cited by 232 · see citing works
Beck, T., Lundberg, M., & Majnoni, G. (2006) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2006.08.004 · Cited by 224 · see citing works
Non-linear growth effects of financial development: Does financial integration matter?
Masten, A. B., Coricelli, F. R., & Masten, I. (2008) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2007.12.009 · Cited by 203 · see citing works
Financial development and economic growth in Nigeria: Evidence from threshold modelling
Adeniyi, O. A., Oyinlola, A., Omisakin, O. A., & Egwaikhide, F. O. (2015) · Economic Analysis and Policy · doi:10.1016/j.eap.2015.06.003 · Cited by 157 · see citing works
An Empirical Reassessment of the Relationship Between Finance and Growth
Favara, G. (2003) · IMF Working Paper · doi:10.5089/9781451854633.001 · Cited by 148 · see citing works
Financial system structure and economic growth: Structure matters
Ergungor, O. E. (2006) · International Review of Economics & Finance · doi:10.1016/j.iref.2006.09.001 · Cited by 120 · see citing works
Introducing a New Broad-based Index of Financial DevelopmentPreprint
Svirydzenka, K. (2016) · RePEc: Research Papers in Economics · doi:10.5089/9781513583709.001.a001 · Cited by 99 · see citing works
Ibrahim, M., & Alagidede, P. (2017) · South African Journal of Economics · doi:10.1111/saje.12176 · Cited by 86 · see citing works
Self-citationFinancial sector development, economic volatility and shocks in sub-Saharan Africa
Ibrahim, M., & Alagidede, P. (2017) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2017.04.142 · Cited by 79 · see citing works
Self-citationAid, Aid Volatility and Sectoral Growth in Sub-Saharan Africa: Does Finance Matter?
Kumi, E., Ibrahim, M., & Yeboah, T. (2017) · Journal of African Business · doi:10.1080/15228916.2017.1363358 · Cited by 64 · see citing works
Self-citationEndogenous Growth and Intermediation in an `Archipelago' Economy
Zilibotti, F. (1994) · The Economic Journal · doi:10.2307/2234765 · Cited by 48 · see citing works
Greasing or sanding the wheels? Effect of corruption on economic growth in sub-Saharan Africa
Ibrahim, M., Kumi, E., & Yeboah, T. (2015) · African J of Economic and Sustainable Development · doi:10.1504/ajesd.2015.069858 · Cited by 26 · see citing works
Self-citation
Flagged first, then by citations
Cited by
Sorted by citations
Effect of financial development on economic growth in Sub-Saharan Africa
Ibrahim, M., & Alagidede, P. (2018) · Journal of Policy Modeling · doi:10.1016/j.jpolmod.2018.08.001 · Cited by 323 · see citing works
Self-citationInstitutions and the financial development–economic growth nexus in sub‐Saharan Africa
Aluko, O. A., & Ibrahim, M. (2020) · Economic Notes · doi:10.1111/ecno.12163 · Cited by 121 · see citing works
Self-citationEhigiamusoe, K. U., & Samsurijan, M. S. (2021) · International Journal of Finance & Economics · doi:10.1002/ijfe.2066 · Cited by 87 · see citing works
Department of Management Sciences, C. U., TARIQ, R., KHAN, M. A., & RAHMAN, A. (2020) · The Journal of Asian Finance, Economics and Business · doi:10.13106/jafeb.2020.vol7.no8.161 · Cited by 51 · see citing works
“Following Ibrahim and Alagidede (2018), we can rewrite equation (4) as: 0 1 β β δ ε= + + +t t i t tLnY LnFD LnX (5) Where Xt is a vector of non-financial variables such as physical capital proxied by the gross fixed capital formation relative to GDP, labor force, inflation rate, trade openness and…”
BackgroundMethodResultInfluentialJima, M. D., & Makoni, P. L. (2023) · Journal of Risk and Financial Management · doi:10.3390/jrfm16060299 · Cited by 39 · see citing works
The role of inflation in financial development–economic growth link in sub-Saharan Africa
Ibrahim, M., Aluko, O. A., & Vo, X. V. (2022) · Cogent Economics & Finance · doi:10.1080/23322039.2022.2093430 · Cited by 32 · see citing works
“…their inability to examine the precise effect of FD on EG when countries’ inflation rate is below or above the estimated level of threshold (see, Aluko & Ibrahim, 2020; Davies et al., 2021; Ibrahim & Acquah, Page 2 of 14 2020; Ibrahim & Alagidede, 2018a; Ibrahim et al., 2020; Opoku et al., 2019a).”
BackgroundMethodInfluentialSelf-citationFinance-growth nexus in sub-Saharan Africa
Machado, C. M. D. C., Saraiva, A. F. M. G., & Vieira, P. D. D. (2021) · South African Journal of Economic and Management Sciences · doi:10.4102/sajems.v24i1.3435 · Cited by 17 · see citing works
“Hence, smoothing the business cycle effect and controlling for endogeneity with the estimation of a dynamic threshold model reinforce our findings in the large sample and the alternative estimation method, but do not support Ibrahim and Alagidede’s (2018) results.”
BackgroundResultInfluentialEffects of stock market development on economic growth in ECOWAS: does institutional quality matter?
Eshun, R., & Tweneboah, G. (2024) · Cogent Economics & Finance · doi:10.1080/23322039.2024.2374419 · Cited by 1 · see citing works
- Authors
- Ibrahim, M., & Alagidede, P.
- Affiliations
- University for Development Studies (GH)
- University of the Witwatersrand (ZA)
- Corresponding author
- Ibrahim, Muazu
- Venue
- Research in International Business and Finance
- Publisher
- Elsevier BV
- Published
- 2018-12
- Volume
- 46
- Pages
- 95-104
- ISSN
- 0275-5319 (ISSN-L)
- OpenAlex
- W2769113602
- Cited by
- 179
- References
- 32
- Citations by year
- 2026: 16 · 2025: 17 · 2024: 20 · 2023: 22 · 2022: 28 · 2021: 23 · 2020: 31 · 2019: 15 · 2018: 6 · 2017: 1
- FWCI
- 31.59
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Research in International Business and Finance (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
- Physical Sciences › Computer Science › Information Systems › Economic Growth and Development
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
- Keywords
- financial development, economic growth, finance-growth nexus, nonlinear effects, threshold effects, per capita income, human capital, sub-Saharan Africa, sample splitting
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review