Abstract
The objective of our work is to show the importance of a healthy institutional framework in the finance-growth relation. In this context, we start by presenting, a theoretical lighting on this subject while trying to define the concept of the governorship and to determine its various measurements. Then, we empirically test a model of growth of Solow increased by the human capital to treating the relation between financial intermediation, institutions and economic growth. The various estimates were made by Vector Autoregressive Method over the period of 1980 to 2011 for Tunisia. Following these estimates, it seems that the quality of the institutions is regarded as an important factor which must not be neglected in the study of the relation between the financial sphere and the real sphere
Keywords: Economic growth, Financial intermediation, Governance, Vector Auto Regressive (VAR)
Article Review Status: Published
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