Financial liberalization in Africa

Seck, Diery; Nil, Yasim H El

doi:10.1016/0305-750x(93)90088-q

Cited by 38 publications

(25 citation statements)

References 41 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…A few of such are quickly touched on in turn. Seck and El Nil (1993) using data for 21 African countries found a positive and significant relationship between the real interest rate -their financial liberalization measure -and real output with gross savings ratio, gross investment and financial savings forming the conditioning set.…”

Section: Literature Reviewmentioning

confidence: 97%

Financial development and economic growth in Nigeria: Evidence from threshold modelling

Adeniyi

Oyinlola

Omisakin

et al. 2015

Economic Analysis and Policy

119

View full text Add to dashboard Cite

Section: Literature Reviewmentioning

confidence: 97%

Financial development and economic growth in Nigeria: Evidence from threshold modelling

Adeniyi

Oyinlola

Omisakin

et al. 2015

Economic Analysis and Policy

119

View full text Add to dashboard Cite

“…Studies such as Oshikoya (1992), Kariuki (1995), Mwega (1997) and Ziorklui and Barbee (2003) did not find any significant effect of financial liberalization on savings. Other studies such as Seck and El Nil (1993) and Azam (1996) found that liberalization has had a significant positive effect on savings. Finally, some studies have found contrasting results where broad conclusions cannot be drawn from the results of empirical tests.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Panel data have been used by some authors (Seck and El Nil, 1993; Allen and Ndikumana, 2000; Charlier and Oguie, 2002; Aziakpono, 2004) to examine the relationship between finance and growth in SSA. Seck and El Nil (1993) and Charlier and Oguie (2002) find a significantly positive relationship between economic growth and the real interest rate.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Liberalization in Sub‐saharan Africa: What Do We Know?

Fowowe

2011

Journal of Economic Surveys

View full text Add to dashboard Cite

Beginning from the early 1980s countries in Sub-Saharan Africa embarked on financial liberalization policies with a view to reversing the ill-effects of financial repression. This paper provides a survey of financial liberalization in Sub-Saharan African countries over the period 1980 to 2004. Our review of empirical studies showed that financial liberalization has had diverse and contrasting effects on savings, investment and economic growth. Most studies found a significant positive effect of financial liberalization on investment whereas its effect on savings has been largely insignificant. The evidence on the effect on economic growth is inconclusive as different studies find contrasting results. It is found that financial liberalization policies have not had the desired and expected results as both financial and macroeconomic variables have not improved following financial liberalization in these countries. This calls for a rethinking of financial liberalization in Sub-Saharan African countries. It is important that financial liberalization is carried out in a stable macroeconomic environment. In addition to this, there should be a building and reform of institutions and the strengthening of prudential regulation. Following this, financial liberalization can be embarked upon but it must be properly sequenced and not rushed.

show abstract

“…This was attributed to the fact that, private investment is more efficient and less closely associated with corruption. (See Seck and El Nil (1993), Oshikoya (1994), Matsheka (1998), Calamitsis et al (1999), Gyimah-Brempong and Traynor (1999), Asante (2000), Ndikumana (2000), and Hoeffler (2002) for detailed narratives).…”

Section: Introductionmentioning

confidence: 99%

Modelling the Long Run Determinants of Domestic Private Investment in Nigeria

Ajide¹,

Lawanson²

2012

ASS

View full text Add to dashboard Cite

The paper seeks to model the long run determinants of domestic private investment in Nigeria over the period 1970 to 2010, employing advanced econometric technique of Auto-Regressive Distributed Lag (ARDL) bounds testing approach. Emanated from the estimated models are intriguing findings which showed clearly that difference exist between long and short run determinants. Public investment, real GDP, real interest rate, exchange rate, credit to the private sector, terms of trade, external debts and reforms dummy are the key long run determinants of domestic private investment while public investment, real GDP and terms of trade are statistically significant in the short run. The policy prescriptions are that necessary infrastructures to complement domestic private investment should be put in place; that external debts be reduced to the barest minimum and negative effects of external shocks engendered by foreign direct investment uncertainty and deficit terms of trade should be prevented altogether.

show abstract

Financial liberalization in Africa

Cited by 38 publications

References 41 publications

Financial development and economic growth in Nigeria: Evidence from threshold modelling

Financial development and economic growth in Nigeria: Evidence from threshold modelling

Financial Liberalization in Sub‐saharan Africa: What Do We Know?

Modelling the Long Run Determinants of Domestic Private Investment in Nigeria

Contact Info

Product

Resources

About