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Financial Development and Economic Growth in Sudan: Empirical Assessment Based on an Application of the Autoregressive Distributed Lag (ARDL) Model

International Journal of Financial Management

Volume 2 Issue 3

Published: 2012
Author(s) Name: Sufian Eltayeb Abdel-Gadir | Author(s) Affiliation: Assistant Professor, Department of Business Administration, Sur University College, Oman
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Abstract

This study investigates the effect of fi nancial development on economic performance in Sudan over the period (1970- 2007) by using the Autoregressive Distributed Lag (ARDL) approach to co-integration. The main empirical fi ndings indicate a weak relationship between fi nancial development and economic growth in Sudan. These fi ndings may be attributed to the ineffi cient allocation of resources by banks, along with the absence of an appropriate investment climate required to foster signifi cant private investment and promote growth in the long run, and to the poor quality of credit disbursal of the banking sector in Sudan.

Keywords: Financial Development, ARDL, ECM, Economic Growth, Sudan

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