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financial development

Effect of Financial Development on Economic Growth in sub–Saharan Africa: Does Sectoral Growth Matter?

Muazu Ibrahim and Paul Alagidede
This paper examines the overall economic growth effect when the growth in finance and real sector is disproportionate relying on panel data for 29 sub–Saharan African countries over the period 1980–2014. Results from the system generalized method of moments (GMM) reveal that, while financial...
Jul 2018
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Institutions and Other Determinants of Total Factor Productivity in Sub-Saharan Africa

David Fadiran and Olusegun A. Akanbi
The primacy of factors of production, such as labour and capital, over Total Factor Productivity (TFP) in stimulating economic growth, has long been a contentious subject in discussions on the underlying causes of economic growth. While the roles of labour and capital have been exhaustively...
Oct 2017
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Financial sector development, economic volatility and shocks in sub-Saharan Africa

Muazu Ibrahim and Paul Alagidede
The role of financial sector development in economic volatility has been extensively studied albeit without informative results largely on the failure of extant studies to decompose volatility into its various components. By disaggregating volatility, this study examines the effect of financial...
Nov 2016
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Spatial Externalities, Openness and Financial Development in SADC: Beyond the Multilateral Monetary Agreement

Alex Bara, Gift Mugano & Pierre Le Roux
This study empirically evaluates spatial externalities in financial development in SADC in line with spatial proximity theory, which asserts that externalities increase with proximity. Precisely, the study tests if financially less developed economies in SADC benefit from linkages with and...
Aug 2016
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Financial Reforms and the Finance – Growth Relationship in the Southern African Development Community (SADC)

Alex Bara, Gift Mugano & Pierre Le Roux
This study seeks to establish the casual relationship between financial development and economic growth in the SADC region, factoring-in the role of financial reforms. Utilising Generalised Methods of Moments (GMM) and Panel Fixed Effects estimations, the study established that financial...
Jun 2016
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Financial development and income inequality in Africa: A panel heterogeneous approach

Anthanasius FomumTita and Meshach Jesse Aziakpono
Although the financial sector of Africa has witnessed massive reforms to enhance its ability to support economic activities, reduce poverty and lower income inequality, Africa remains the poorest region and the second most unequal region in the world after Latin America. Despite these established...
Jun 2016
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Financial sector development and threshold effect of inflation in ECOWAS and SADC: A Panel smooth transition regression approach

Sulemana Mahawiya
The financial sector of an economy is now widely agreed to constitute a potential important channel for growth. Many regions such as Sub-Saharan Africa, however, have relatively underdeveloped financial sector. Although several policy designs have been used to induce growth in the sector, there has...
Aug 2015
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Financial sector development, Inflation and Openness: A comparative panel study of ECOWAS and SADC

Sulemana Mahawiya
This paper provides an empirical analysis of the comparative study between the Economic Community of West African States (ECOWAS) and Southern African Development Community (SADC) on the role of inflation in explaining the state of financial development of the two regions. In addition, the study...
Jun 2015
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