Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/308663 
Year of Publication: 
2018
Citation: 
[Journal:] Dutch Journal of Finance and Management [ISSN:] 2542-4750 [Volume:] 2 [Issue:] 2 [Article No.:] 03 [Year:] 2018 [Pages:] 1-6
Publisher: 
Lectito Journals, The Hague
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.
Subjects: 
financial development
economic growth
multivariate causality
Botswana
JEL: 
E44
G21
O16
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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