FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W4385432824> ?p ?o ?g. }

• W4385432824 endingPage "1911" @default.
• W4385432824 startingPage "1880" @default.
• W4385432824 abstract "This paper starts with an estimation of the effects of bank credit on economic growth in Mauritius. Existing empirical studies in Mauritius have used fixed coefficient models (see Jankee, 2006; Seetanah, 2008; Nowbutsing et al., 2010) to estimate the effects of bank credit on economic growth. However, the relationship between bank credit and economic growth may have changed over time because of different financial policies adopted in the country since independence in 1968. In that respect, because the effect of policies on the relationship between finance and growth may not be constant, we use the Time-Varying Coefficient model of Swamy and von zur Muehlen (2020) to estimate the time-varying total effects of bank credit on economic growth from 1970 to 2019. The Time-Varying Coefficient model of Swamy and von zur Muehlen (2020) is superior to extant models using fixed and variable coefficients because it estimates total effects and does not ignore the correlation between the error term and the explanatory variables, and hence also considers the indirect effects of the explanatory variables on the dependent variable. The results show a non-linear relationship between bank credit and economic growth with a non-monotonic decline of the total effects of the former on the latter from 1986 onwards. In the second part of the paper, to gain further insights into the reasons behind that non-monotonic decline, we introduce a novel theory in Africa known as the quantity theory of disaggregated credit and use its methodology to disaggregate total bank credit into two types namely, bank credit for GDP transactions and bank credit for non-GDP transactions before estimating the total effects of the former on economic growth. The best model of the total effects of bank credit for GDP transactions on economic growth shows that bank credit for GDP transactions, in particular to investment in machines (IM), or more broadly to manufacturing, spearheaded high growth rates during the country’s miracle years in the 1980s. In fact, during the period 1973-1993, the Bank of Mauritius had a system of credit guidance in place, which also coincided with the strong effects of bank credit for GDP transactions on economic growth during those years. The removal of this policy instrument from the monetary policy toolkit of the Bank of Mauritius as from 1993 coincided, too, with a decrease in average real economic growth. A corollary to the results is that policies that guide bank lending towards productive investment can be very effective in stimulating economic growth, more so than conventional interest rate policies, to which credit guidance can act as a complement and not necessarily as a substitute." @default.
• W4385432824 created "2023-08-01" @default.
• W4385432824 creator A5029573913 @default.
• W4385432824 date "2023-01-01" @default.
• W4385432824 modified "2023-10-16" @default.
• W4385432824 title "Can Bank Credit Explain the Economic Miracle of Mauritius? Policy Lessons for the Central Bank" @default.
• W4385432824 cites W1507683023 @default.
• W4385432824 cites W1986829883 @default.
• W4385432824 cites W1992109042 @default.
• W4385432824 cites W2017109723 @default.
• W4385432824 cites W2069488025 @default.
• W4385432824 cites W2075976446 @default.
• W4385432824 cites W2090721537 @default.
• W4385432824 cites W2098136937 @default.
• W4385432824 cites W2107224283 @default.
• W4385432824 cites W2133771254 @default.
• W4385432824 cites W2478923916 @default.
• W4385432824 cites W2597589192 @default.
• W4385432824 cites W2953930270 @default.
• W4385432824 cites W2954908691 @default.
• W4385432824 cites W3021581513 @default.
• W4385432824 cites W3086911483 @default.
• W4385432824 cites W3122722028 @default.
• W4385432824 cites W3125383828 @default.
• W4385432824 cites W4239547599 @default.
• W4385432824 cites W4288077793 @default.
• W4385432824 cites W4319588164 @default.
• W4385432824 doi "https://doi.org/10.4236/ojbm.2023.114105" @default.
• W4385432824 hasPublicationYear "2023" @default.
• W4385432824 type Work @default.
• W4385432824 citedByCount "0" @default.
• W4385432824 crossrefType "journal-article" @default.
• W4385432824 hasAuthorship W4385432824A5029573913 @default.
• W4385432824 hasBestOaLocation W43854328241 @default.
• W4385432824 hasConcept C105795698 @default.
• W4385432824 hasConcept C134306372 @default.
• W4385432824 hasConcept C149782125 @default.
• W4385432824 hasConcept C162324750 @default.
• W4385432824 hasConcept C178300618 @default.
• W4385432824 hasConcept C182365436 @default.
• W4385432824 hasConcept C27574286 @default.
• W4385432824 hasConcept C2993078247 @default.
• W4385432824 hasConcept C33923547 @default.
• W4385432824 hasConcept C556758197 @default.
• W4385432824 hasConcept C78458016 @default.
• W4385432824 hasConcept C86803240 @default.
• W4385432824 hasConceptScore W4385432824C105795698 @default.
• W4385432824 hasConceptScore W4385432824C134306372 @default.
• W4385432824 hasConceptScore W4385432824C149782125 @default.
• W4385432824 hasConceptScore W4385432824C162324750 @default.
• W4385432824 hasConceptScore W4385432824C178300618 @default.
• W4385432824 hasConceptScore W4385432824C182365436 @default.
• W4385432824 hasConceptScore W4385432824C27574286 @default.
• W4385432824 hasConceptScore W4385432824C2993078247 @default.
• W4385432824 hasConceptScore W4385432824C33923547 @default.
• W4385432824 hasConceptScore W4385432824C556758197 @default.
• W4385432824 hasConceptScore W4385432824C78458016 @default.
• W4385432824 hasConceptScore W4385432824C86803240 @default.
• W4385432824 hasIssue "04" @default.
• W4385432824 hasLocation W43854328241 @default.
• W4385432824 hasOpenAccess W4385432824 @default.
• W4385432824 hasPrimaryLocation W43854328241 @default.
• W4385432824 hasRelatedWork W2030617584 @default.
• W4385432824 hasRelatedWork W2056210026 @default.
• W4385432824 hasRelatedWork W2066824604 @default.
• W4385432824 hasRelatedWork W2095256590 @default.
• W4385432824 hasRelatedWork W2106069978 @default.
• W4385432824 hasRelatedWork W2594984410 @default.
• W4385432824 hasRelatedWork W2897276145 @default.
• W4385432824 hasRelatedWork W3122762617 @default.
• W4385432824 hasRelatedWork W3145642414 @default.
• W4385432824 hasRelatedWork W2182272626 @default.
• W4385432824 hasVolume "11" @default.
• W4385432824 isParatext "false" @default.
• W4385432824 isRetracted "false" @default.
• W4385432824 workType "article" @default.