العلاقة بين التمويل المصرفي والنمو الاقتصادي في المغرب - تحليل السببية متعدد المتغيرات -

Abstract

This study aims to identify trends of the causal relationship between bank financing and economic growth in Morocco between 1980 and 2018, for this purpose, we used Toda and Yamamoto (1995) Approach to test causality in the long run, Which is based on estimating Augmented Vector auto-regression model. The study concluded that there is a Unidirectional causal relationship going from bank financing towards economic growth, In addition to another relationship going from the lending interest rate to economic growth in the long-run, and the study also concluded that there is a Unidirectional causal relationship going from bank financing towards the lending interest rate and broad money in the long-run.