Financial Development And Agricultural Production In The WAEMU Area
How can financial development contribute to improving agricultural production in the WAEMU region?
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The objective of this research paper is to examine the existence of a non-linear relationship between financial development and agricultural production in the WAEMU region by considering different indicators of financial development. We then construct a PSTR model, our basic model. As a robustness test, we formulate a quadratic model that takes into account the endogeneity of some explanatory variables. The results of the empirical tests and estimates reveal a decreasing linear relationship between domestic credit provided by the banking sector and agricultural production. With respect to the ...
The objective of this research paper is to examine the existence of a non-linear relationship between financial development and agricultural production in the WAEMU region by considering different indicators of financial development. We then construct a PSTR model, our basic model. As a robustness test, we formulate a quadratic model that takes into account the endogeneity of some explanatory variables. The results of the empirical tests and estimates reveal a decreasing linear relationship between domestic credit provided by the banking sector and agricultural production. With respect to the stock market, the results obtained show a non-linear relationship between the development of the stock market and agricultural production. The effect of stock market capitalization on agricultural production is favorable but decreasing.
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