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Stiglitz, J. E. (1994). The Role of the State in Financial Markets. In M. Bruno, & B. Pleskovic (Eds.), Proceeding of the World Bank Annual Conference on Development Economics (pp. 19-52). World Bank.

has been cited by the following article:

• TITLE: Financial Development and Economic Growth in the Southern African Development Community (SADC): The Role of Institutional Quality

  AUTHORS: Allegra Kabamba Mbuyi, Evariste Mabi Mulumba

  KEYWORDS: Financial Development, Institutions, Economic Growth, SADC

  JOURNAL NAME: Journal of Financial Risk Management, Vol.11 No.2, May 11, 2022

  ABSTRACT: The objective of this paper is to study the relationship between financial development and economic growth conditional on the institutional environment in the Southern African Development Community (SADC) countries over the period 2000-2020. To achieve this objective, we used the Aggregate Group Mean (AGM) estimator. Our results indicate that financial development is not homogeneous across the subregion, so it contributes significantly to economic growth in SADC countries when the institutional environment is of good quality. This empirical evidence explains the differences in economic growth across SADC countries and recommends good quality institutions for finance to positively impact growth in the subregion.