المستخلص: |
The study aimed to assess the impact of financial development on economic growth in the countries of the Gulf Cooperation Council: (United Arab Emirates, Bahrain, Kuwait, Qatar, Oman, Saudi Arabia) during the period 1990-2017, using the panel data approach, by applying three models: The pooled regression model, the Fixed Effects Model (FEM), and the Random Effects Model (REM). For preference between the previous models two tests were used: Lagrange Multiplier (LM) test to choose between the combined regression model and the fixed effects model, and a test (1987) Haussman to choose between a fixed effects model and a random effects model. The study reached the most important results, including: There is a positive impact between financial development and economic growth in the countries of the Gulf Cooperation Council, where the results showed a positive relationship between each (expanded money supply, domestic credit provided to the private sector), and economic growth in the countries of the Gulf Cooperation Council. In light of the previous results, the study recommends the following: Create a structural environment that makes financial development possible, including less government interference in allocating credit and institutional quality
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