Stockmarkets, Banks and Economic Growth in Sub-Saharan Africa : 1990-2007

Considerable attention has been paid to the relationship between stock market, bank and economic growth. However, one major controversy in empirical literature as far as the relative impact of stock market and bank on economic growth are concerned centers on which one of them contributes more to growth. Though, panel studies have been carried out in developed countries, much attention has not been paid to this issues on one hand, the direction of causality among stock market, bank and economic growth in Saharan African countries on the other hand, hence the study.