<abstract> <p>This study empirically explores the influence of financial development (FD) in an innovation-growth nexus. Specifically, the study considers how, through FD, innovation impacts countries' export products, export values and national incomes. The system Generalized Method of Moments technique and the dynamic common correlated effect estimator are used on data of 57 economies covering the period 2000 to 2019. First, the findings reveal that, on the full sample, FD and its interaction with R&amp;D expenditure have both short- and long-run effects on economic performance, as they both cause increases in export product, export value and national income. However, within the full sample study, the direct impact of FD is more favorable than the indirect effect. Second, within the developed and the developing economies, the study reveals that FD indirectly influences economic performance by improving the relationship between R&amp;D expenditures and export products, export values and the national incomes of these groups of economies, both in the short- and the long-run. However, considering the developing economies, the findings show that the indirect influence of FD is more favorable than the direct effect. As a result, this study argues that FD is relevant for improving the relationship between innovation and economic performance, for both developed and developing economies. Policymakers should, therefore, ensure efficiency and stability in their financial sector as they engage in R&amp;D activities in order to be able to harness the export-growth benefits of innovation fully. Moreover, policies that ensure sustainable money supply should be encouraged, especially within the developing economies.</p> </abstract>

The study aims at examining how IFRS adoption influences the relationship existing among foreign direct investment (FDI) and economic growth. The data consist of 12 developing economies that are the highest recipients of FDI in Africa, and the years of study are from 1996-2018. Using Ordinary Least Square and Generalized Least Square method of estimation, the result shows that IFRS is significantly positive to FDI. With FDI inflows in these countries, the result provides evidence that Non fully-IFRS adopted countries experience higher inflows of FDI than the fully-IFRS adopted countries. We find FDI inflows to also have positive influence on economic growth. The interaction of FDI and IFRS also influences economic growth positively when further analysis was carried on. The results provide evidence of positive relation among FDI, IFRS, and economic growth. IFRS adoption promotes FDI inflows which consequently spurs economic growth. There is, therefore, the need for policymakers to ensure adoption and enforcement of IFRS.

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