Financial Liberalization and Economic Growth in Selected Middle East/North Africa Countries and Sub Sahara Africa Countries, 1986 – 2017


Authors : Tubolayefa ERNEST, Ezaal OKOWA

Volume/Issue : Volume 5 - 2020, Issue 1 - January

Google Scholar : https://goo.gl/DF9R4u

Scribd : https://bit.ly/389ZQgS

The study investigated the effect of financial liberalization on economic growth in selected Middle East/North Africa (MENA) countries and Sub-Sahara Africa countries using data obtained mainly from the World Bank data catalog. The panel unit root test developed by Im, Pesaran and Shin (IPS) was used to explore the stochastic properties of the data before estimating the models using Pooled Mean Group/Autoregressive Distributed Lag estimation procedure for dynamic panel analysis and found that financial liberalization has had positive and significant influence on economic growth in MENA countries while financial liberalization had a positive but not significant influence on economic growth in SSA countries. Thus, the study recommends the pursuit of rational financial liberalization policies in the MENA countries and SSA countries as well as encouraging policies of financial inclusion in both sub-regions so as to continually enjoy the beneficial effect of financial liberalization in their economies.

Keywords : Financial Liberalization, Economic Growth, Middle East/North Africa, Sub-Sahara Africa, Pooled Mean Group/ Autoregressive Distributed Lag.

CALL FOR PAPERS


Paper Submission Last Date
30 - November - 2021

Paper Review Notification
In 1-2 Days

Paper Publishing
In 2-3 Days

Never miss an update from Papermashup

Get notified about the latest tutorials and downloads.

Subscribe by Email

Get alerts directly into your inbox after each post and stay updated.
Subscribe
OR

Subscribe by RSS

Add our RSS to your feedreader to get regular updates from us.
Subscribe