The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries

The study examines the impact of financial reforms and institutional quality on the economic growth of five selected Sub-Saharan African (SSA) countries from 1984 to 2018. The specific objectives of the study are to examine the effects of interest rate liberalization and capital account deregulation...

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Main Author:	Aliyara, Abdulhadi Haruna
Format:	Thesis
Language:	eng eng
Published:	2021
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/10358/1/permission%20to%20use-ALLOWED.pdf https://etd.uum.edu.my/10358/2/s902214_01.pdf
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id	my-uum-etd.10358
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spelling	my-uum-etd.103582023-03-01T04:30:54Z The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries 2021 Aliyara, Abdulhadi Haruna Abu Bakar, Abu Sufian School of Economics, Finance & Banking School of Economics, Finance & Banking HG Finance The study examines the impact of financial reforms and institutional quality on the economic growth of five selected Sub-Saharan African (SSA) countries from 1984 to 2018. The specific objectives of the study are to examine the effects of interest rate liberalization and capital account deregulation, to explore the effects of interactions between interest rate deregulation and corruption and between interest rate deregulation and bureaucratic quality, to examine the interaction effects of capital account liberalization and corruption, and to explore the interaction effects of capital account liberalization and bureaucratic quality. The study utilizes the Driscoll and Kraay pooled ordinary least square and fixed-effects techniques, which are robust to cross-sectional dependence, heteroskedasticity, and serial correlation. The findings suggest that interest rate liberalization affects economic growth negatively, whereas capital account deregulation accelerates economic growth. The interactions between interest rate liberalization and corruption negatively affect economic growth, whereas the interactions between interest rate liberalization and bureaucratic quality positively affect economic growth. The interactions between capital account liberalization and corruption have negative effects on economic growth. On the other hand, the interactions between capital account liberalization and bureaucratic quality reveal positive effects on economic growth. Therefore, the study recommends that various governments implement policies geared toward more capital account openness. The five sample countries must also implement strategies geared toward eradicating corruption. Hence, to benefit from the numerous advantages of financial deregulation, the study suggests that the sample countries must improve their institutional environments. Finally, the findings indicate the critical role of a sound and conducive business environment for any form of successful financial liberalization. 2021 Thesis https://etd.uum.edu.my/10358/ https://etd.uum.edu.my/10358/1/permission%20to%20use-ALLOWED.pdf text eng staffonly https://etd.uum.edu.my/10358/2/s902214_01.pdf text eng public phd doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Abu Bakar, Abu Sufian
topic	HG Finance
spellingShingle	HG Finance Aliyara, Abdulhadi Haruna The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries
description	The study examines the impact of financial reforms and institutional quality on the economic growth of five selected Sub-Saharan African (SSA) countries from 1984 to 2018. The specific objectives of the study are to examine the effects of interest rate liberalization and capital account deregulation, to explore the effects of interactions between interest rate deregulation and corruption and between interest rate deregulation and bureaucratic quality, to examine the interaction effects of capital account liberalization and corruption, and to explore the interaction effects of capital account liberalization and bureaucratic quality. The study utilizes the Driscoll and Kraay pooled ordinary least square and fixed-effects techniques, which are robust to cross-sectional dependence, heteroskedasticity, and serial correlation. The findings suggest that interest rate liberalization affects economic growth negatively, whereas capital account deregulation accelerates economic growth. The interactions between interest rate liberalization and corruption negatively affect economic growth, whereas the interactions between interest rate liberalization and bureaucratic quality positively affect economic growth. The interactions between capital account liberalization and corruption have negative effects on economic growth. On the other hand, the interactions between capital account liberalization and bureaucratic quality reveal positive effects on economic growth. Therefore, the study recommends that various governments implement policies geared toward more capital account openness. The five sample countries must also implement strategies geared toward eradicating corruption. Hence, to benefit from the numerous advantages of financial deregulation, the study suggests that the sample countries must improve their institutional environments. Finally, the findings indicate the critical role of a sound and conducive business environment for any form of successful financial liberalization.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Aliyara, Abdulhadi Haruna
author_facet	Aliyara, Abdulhadi Haruna
author_sort	Aliyara, Abdulhadi Haruna
title	The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries
title_short	The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries
title_full	The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries
title_fullStr	The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries
title_full_unstemmed	The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries
title_sort	impact of financial reforms and institutional quality on economic growth of five selected sub-saharan african countries
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2021
url	https://etd.uum.edu.my/10358/1/permission%20to%20use-ALLOWED.pdf https://etd.uum.edu.my/10358/2/s902214_01.pdf
_version_	1776103799344070656

The impact of financial reforms and institutional quality on economic growth of five selected sub-Saharan African countries

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