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This paper empirically investigates the change in the relationship between economic growth and financial development as … determining the impact of financial development at different levels of economic growth. Financial development is measured by … and significant role in economic growth process regardless of the level of economic development. The size of the impact of …
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The study employs macrodata on 42 African countries to examine whether remittances and financial development (including the sub-components of access, depth and efficiency) contribute to the equalisation of incomes across the continent. Robust evidence from the dynamic GMM estimator shows that:...
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