Working Paper Series: Special Edition of 2016 to 2018 Interns

Table of Contents

1.0 Introduction...................................................................................................................... 59 2.0 Stylised Facts .................................................................................................................... 61 2.1 Overview of Economic Growth within the ECCU ............................................................................... 61 2.2 Financial Sector ................................................................................................................................. 63 2.2.1 Financial Innovation within the ECCU........................................................................................ 63 3.0 Literature Review ............................................................................................................ 66 3.1 Theoretical Review............................................................................................................................ 66 3.2 Empirical Review............................................................................................................................... 67 4.0 Data and Methodology .................................................................................................... 69 4.1 Methodology..................................................................................................................................... 69 4.2 Data................................................................................................................................................... 70 5.0 Results and Analysis ........................................................................................................ 71 5.1 Estimation Results............................................................................................................................. 71 5.1 Granger Causality Tests..................................................................................................................... 74 6.0 Conclusion and Policy Recommendations ................................................................... 74 References .................................................................................................................................... 76

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