The impact of financial development on the economic growth of selected Arab countries
DOI:
https://doi.org/10.21533/pen.v9.i4.966Abstract
Financial development has become a subject of great interest in the Arab countries. This development plays an important role in mobilizing domestic savings and directing it towards investment channels, according to its ability to employ capital on the one hand, and its linkage to market, on other hand the rise of phenomenon of assessment of foreign exchange rates and interest rates at the international level, which has often led to the absence of any obstacles to capital flows in a variety of credit tools and savings and foreign currencies, especially that the financial development following the economic developments and the expansion of consumer and investment spending. The research investigates an effect of financial development on the economic growth in selected Arab countries (Jordan, Egypt, Algeria, Tunisia, Saudi Arabia and Bahrain) during the period 2000-2017.
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