This study examines the relationship between crude oil price and financial sector intermediary development in Nigeria over the period 1975-2011, using the autoregressive distributed lag approach to cointegration analysis. Four measures of financial intermediary development are used including an...

Our paper examines the relationship between institutional structures and the level of financial markets development in Africa. Our paper contributes to the extant literature by using other financial market development variables-ease of access to loans and venture capital availability-that have...

The global increase in the regulation of banks has encouraged the channeling of investment funds into less regulated institutions such as shadow banks to avoid restriction. Shadow banks are institutions that operate outside the regulatory framework of the traditional banking system and because...

This paper empirically investigates the effects of remittances on access to financial services in 26 Sub-Saharan African countries over the period 2004-2015. We find that remittances have a significantly positive impact on financial access in Sub-Saharan Africa. This finding remains true in...

The lower levels of financial inclusion and severe financial inclusion gaps in Africa motivates the investigation of whether mobile phones, economic growth, bank competition and stability matter for financial inclusion. Data from 49 countries for the periods 2004-2016 were collected and analysed...

The study aims at re-examining the relationship between financial market development and economic development in the context of competitiveness of developed and higher income countries. Methodology/approach: The study employs generalized least square (GLS) regression model to analyze the panel...

Sources of economic growth in Ghana have not been clear. Several studies have contributed to the finance and growth literature with little attention on remittances and the joint effect of financial sector development and remittances. This paper uses macrodata to examine the linkages between...

This article employs a dynamic stochastic general equilibrium framework to examine asymmetric information and limited contract enforcement in financial markets, where firms have access to both internal and external sources of finance. It considers limited enforcement of financial contract in the...

This study investigates a comparative study on the threshold effects of inflation on financial sector development (FSD) between the Economic Community of West African States (ECOWAS) and the Southern Africa Development Community (SADC) for the period 1980-2011. Using a novel panel smooth...

This paper investigates the impact of financial development on economic growth in Pakistan using the Markov Switching Model over the period 1980-2017. The results based on two-state Markov switching model confirm the Schumpeter's view that finance spurs growth. The result reveals that financial...