期刊名称：International Journal of Economics and Financial Issues
电子版ISSN：2146-4138
出版年度：2019
卷号：9
期号：1
页码：203-211
语种：English
出版社：EconJournals
摘要：Many studies on the link between finance and growth, in Arab gulf countries, have suggested however, without demonstrating it, that the relationship between the two spheres goes through the country’s specific institutional structure. Nevertheless, this relation is neither well analyzed nor stated in the case of the Gulf States, which justifies the problem of this article. Different estimates were made by the method of panel data for the period from 1995 to 2012 for six Arab Gulf Countries. It appears from these estimates that the quality of the institutions is the transmission vector of the financial sphere towards the real sphere for the case of these countries. So, the financial system cannot stimulate economic growth if it is accompanied by a “solid institutional framework” presented by a better bureaucracy, a fight against corruption, a strong legal framework and better socio-economic conditions.
关键词：Financial Development; Quality of Institutions; Economic Growth; Panel Data
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