Using a sample of 29 African countries for which adequate time series data are available this paper explores the nexus between financial development and manufactured exports. This particular relationship is especially important in the context of Africa since export diversification away from resources and agriculture is an important part of Africa's growth strategy. Our results show that in 11 countries financial development causes manufactured exports and manufactured exports causes financial development in seven countries. We then explore reasons for these findings and find that a rich and surprising set of factors explain our findings.
|Number of pages
|International Journal of Economic Policy in Emerging Economies
|Published - 2014
All Science Journal Classification (ASJC) codes
- Economics and Econometrics