Financial Development and Economic Growth in Uganda
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Date
2007
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
The IUP Journal of Financial Economics
Abstract
This study provides the empirical findings on the relationship between
financial development and economic growth in Uganda from 1970 to 2002.
The results support the McKinnon-Shaw hypothesis, which suggests that
removal of distortions in the financial sector stimulates economic growth. In
Uganda, there have been financial sector reforms since 1992. These factors
help to explain the positive relationship between financial development and
economic growth in the country. The study uses a dummy variable to examine
the effect of financial sector reforms. The coefficient of the dummy variable
is positive and significant, implying that the changes induced by the
liberalization of the economy had a positive impact on real economic growth
in Uganda
Description
Keywords
Financial Development, Economic Growth
Citation
Kilimani, N. (2007). Financial development and economic growth in Uganda. The IUP Journal of Financial Economics, (1), 14-34.