Publication at Faculty of Social Sciences, Faculty of Mathematics and Physics, Centre for Economic Research and Graduate Education |
2013
Abstract
This paper first, identifies and discusses possible transmission channels for microfinance and second, establishes the choice of appropriate methodology for robust empirical test. Adapted for panel data the Arellano-Bond (1991) technique allows for the Granger-Causality type test to reveal the direction of causality and overcome endogeneity issue.
The main purpose of the estimation is to check whether microfinance matters for financial sector development and economic growth.