Faced with the financial crisis and global economic recessions, Africa governments have rediscovered the importance of economic policy instruments. They use it to rescue the bankrupt banks, and to make more economic activity to carry back recession. But now there's a backlash demanding that the...

While there's an outsized consensus within the empirical literature on the negative impact of corruption on the economic process, some studies still argue that corruption could also be economically justified. There is, however, little empirical evidence to validate the impact of corruption on...

Macroeconomic convergence is critical for member states to achieve the level of harmonization required for establishing a stable and resilient monetary union. The East African Community (EAC) member states, therefore, established set targets for macroeconomic convergence, in-tending to eliminate...

Public and private investment in agricultural research and development (R&D) creates preconditions for the implementation of more advanced and better technologies. It enables the introduction of new production processes and products which can result in higher earnings and potential sectoral...

Inclusive financial systems in any economy cannot be ignored. In fact, it has become a policy strategy in many governments around the world, including East Africa region economies – Kenya, Uganda and Tanzania. Using panel data, this study presents a cross country analysis of the variables that...

From previous studies, the effects of expenditure on economic growth appear to provide mixed results. Despite this uncertainty, theory suggests that expenditure induce growth. In Kenya, economic growth has been fluctuating despite the devolved expenditure increasing over time. It is against this...

With a plunge in national savings due to external economic shocks, among them the financial crisis and COVID-19-related macroeconomic costs, this study investigates to what extent inflation explains the variation in the saving culture in Kenya. Available empirical works have been conducted...

There are hosts of macroeconomic dynamics contributing to financial inclusion in developing countries. These sources may be both from the demand side and supply side. The government and financial institutions takes several policy initiatives to encourage the supply of financial services to the...

This study examines the effect of fiscal decentralization, in the form of shifting responsibilities of tax revenues, expenditure and planning from the central government to lower local governments, as well as rapidly rising income, on energy consumption for 47 Kenyan counties over the period...

The empirical debate on the role of international tourism on local economic growth is inconclusive and is characterized by two main opposing views: the Tourism-led economic growth hypothesis and the Economy-driven tourism growth hypothesis. The objective of the study was to establish the role of...