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This article analyzes the effects of financial liberalization on economic growth in the Economic Community of Central African States (CEMAC) over the period from 1985 to 2018 using an autoregressive distributed lag model. Estimates using Mean Group (MG), Pooled Mean Group (PMG), and Dynamic Fixed Effects (DFE) estimators show that banking development has a positive and significant effect on long- and short-term growth in CEMAC. In the long term, financial liberalization is significant and negatively affects economic growth. In the short term, private sector domestic credit has a positive impact on growth, and the degree of openness has a significant and negative impact on growth. These results predict that CEMAC should encourage short-term domestic credit, reduce its dependence on oil revenues, and further diversify its economy.