PurposeThis study investigates the relationship between urbanization and carbon dioxide emission in the Central African Economic and Monetary Community from 1990 to 2019. The literature reveals that the relationship between urbanization and carbon dioxide emissions is still debatable and the existing findings are inconclusive.Design/methodology/approachCarbon dioxide is the regressand; while, urbanization, gross domestic product (GDP) and financial development (FD), rule of law (ROL) and government effectiveness (GEF) are the regressors. Johansen Fisher and Kao residual co-integration tests alongside the fully modified and dynamic ordinary least squares.FindingsThe results show a significant positive relationship between urbanization and carbon dioxide emissions. The causality tests results show that carbon dioxide granger causes urbanization, GDP and FD unit directionally.Research limitations/implicationsThe countries' governments should effectively improve their legal systems to regulate carbon dioxide emissions. Urbanization laws should be implemented to limit urbanization environmental deteriorating effects on carbon dioxide emissions. This occurs as the countries practiced unregulated urbanization which increases population's environmental impacts. The study recommends sustainable green urbanization policies for environmental conservation through tree planting and horticulture. Balance development in urban and rural areas is vital to decongest the urban cities' pressure in the states. The governments should motivate the private sector with rural investments captivating policies to limit rural urban migration.Originality/valueThe findings contribute value by supporting a positive link between urbanization and carbon dioxide emissions in the CEMAC zone. The causality tests findings confirm the view that carbon dioxide granger causes urbanization, GDP and FD unit directionally. This value addition is essential to the governments and policy makers to mitigate urbanization and carbon dioxide emissions in the CEMAC region.

PurposeThis research examines the long-run relationship between microfinancial inclusion and poverty alleviation in Nigeria from 1990 to 2018.Design/methodology/approachthe Engle–Granger two-step co-integration and autoregressive distributed lag (ARDL) techniques. Gross domestic product (GDP) per capita proxies poverty reduction. Number of microfinance banks, borrowers of microfinance institutions, commercial bank branches, commercial bank loan to small-scale businesses and broad money supply ratio measure microfinancial inclusion.FindingsThe results indicate a long-run relationship between microfinancial inclusion and poverty reduction. The error correction model reveals that microfinancial inclusion and poverty alleviation converge to long-run equilibrium. The number of microfinance banks, lagged value of borrowed funds and broad money supply negatively influences poverty while the lagged values of number of microfinance banks and broad money supply positively influence poverty.Research limitations/implicationsEffective ways to improve microcredit channels and liquidity flow to the poor through a microfinance bank's intermediation should be promoted by the Central Bank of Nigeria (CBN) using an aggressive policy, which provides access to credit to the poor.Practical implicationsTheoretically, microfinance institutions should increase credit to the poor, especially in rural areas at moderate cost. This study further suggests that many microfinance bank branches should be located in urban and rural areas targeting the poor.Social implicationsMicrofinancial inclusion reduces population's poverty in Nigeria and globally.Originality/valueContrary to other studies, this paper utilizes number of microfinance institutions and borrowers of microfinance institutions to examine the relationship between microfinancial inclusion and poverty alleviation in Nigeria.

1. Introduction Digital financial inclusion for the poor is becoming a reality. While traditional microfinance and banks remain important, the potential of using new technology-based platforms to serve the poor is huge. In particular, digital finance network coverage and the use of a variety of indirect channels (e.g., agents) reduce the costs compared to more customary full service branches owned by banks. Cash is the main barrier to financial inclusion. In as much as poor people rely on cash or barter, it remains too costly for financial institutions to serve them. Once the poor have access to cost-effective digital means of payments, they exit this trap and could in principle be profitably supplied by a range of financial institutions. Providers can offer not only mobile money, but also savings, credit, insurance, and other digital financial products to the poor at low cost. Digital Financial inclusion is usually defined as the percentage of individuals and firms that have access to or use financial services (World Bank, 2014). Burkett and Sheehan (2009) define financial exclusion as: A situation where a person, group or organization lacks or is deprived of access to affordable, appropriate and fair financial products and services, with the result that their capability to participate fully in social and economic activities is reduced, financial adversity is increased, and poverty (measured by income, debt and assets) is exacerbated. Digital Financial inclusion, therefore, is beyond access to finance, usage and quality are also important. Many people may have access to digitalfinancial services at affordable prices, but decide not to use certain financial services for reasons such as religion or culture. Statistics show disparities due to factors such as income, age and gender (Demirgüc-Kunt et al, 2015). Others may lack access due to exorbitant costs of the services, unavailability of services because of regulatory barriers, or a variety of other market and cultural factors. Fuhrmann, (2017) postulated that the business of banks involves taking deposits and using the same deposits to make loans. It could be complicated, but this is the basic model used in banking. In the past banks in Asia have been accused of not reaching out in areas where the transaction or deposit size is very low. In places with low deposits, the volumes are usually low, and the costs of serving are high. The banks did not see any sense to open up branches in areas with low volumes and the high cost of operation. The revolution of information technology (IT) has changed every aspect

Purpose This paper investigates the impact of bank credit on agricultural productivity in the Central African Economic and Monetary Community (CEMAC) from 1990 to 2019. Studies’ results on the impact of bank credit on agricultural productivity are not conclusive. The studies demonstrate diverse outcomes which are debatable. The results are conflicting. Design/methodology/approach Agricultural value added (AGRVA) to the gross domestic product (GDP) proxies agricultural productivity while domestic credit to the private sector by banks (DCPSB), broad money supply, land, inflation (INF), physical capital (PHKAP) and labour supply are explanatory variables. The autoregressive distributed lag technique is utilized. Findings The co-integration test results show a long-run co-integration among the variables. The findings disclose that DCPSB, land and PHKAP impact positively on the AGRVA. Broad money supply, INF and labour impact negatively on the AGRVA to the GDP. Research limitations/implications The results suggest that the CEMAC governments should encourage effective ways to increase bank credit flow to private enterprises in the agricultural sector through efficient bank's intermediation. Practical implications The governments should create more agricultural banks and improve the operation of existing ones to ensure direct credit to agricultural activities. The Bank of Central African Economic and Monetary Community should apply aggressive policy which eliminates all the bottlenecks undermining credit flow to the private sector in mutualism with agricultural productivity. Social implications The commercial banks should give more credit to private sector to mutually benefit the agricultural sector and the banking sector. The governments of the CEMAC economies should expand funding into the capital market which considerably boosts agricultural productivity. Originality/value Studies’ results on the impact of bank credit on agricultural productivity are not conclusive. The studies demonstrate diverse outcomes which are debatable. The results are conflicting; some reveal positive impacts, some show negative impacts and others indicate U-shape behaviour. Hence, research is required to fill the lacuna.

PurposeThe purpose of this paper is to examine key macroeconomic determinants on Cameroon's economic growth from 1970 to 2018.Design/methodology/approachData were obtained from the World Development Indicators and applied on time series data econometric techniques. The auto-regressive distributed lag (ARDL) bounds model analyzed the data since the variables had different order of integration.FindingsThe results showed long and short runs’ positive and significant connection between economic growth in Cameroon and government expenditure; trade openness, gross capital formation and exchange rate. Human capital development, foreign aid, money supply, inflation and foreign direct investment negatively and significantly affected economic growth in the short and long-runs. Hence, the macroeconomic indicators are not death.Research limitations/implicationsThe present research paper has tried to capture the impact of nine macroeconomic determinants on economic growth such as the government expenditure (LNGOVEXP), human capital development (LNHCD), foreign aids (AID), trade openness (LNTOP), foreign direct investment (LNFDI), gross capital formation (INVEST), broad money (LNM2), official exchange rate (LNEXHRATE) and Inflation (LNINFLA). However, these variables have the tendency to affect each other in a unidirectional or bidirectional manner. Further, the present research paper is unable to capture the impact of other macroeconomic variable due to the unavailability of data.Practical implicationsThe study recommends that Cameroon should use proper planning and strategic policy interventions to achieve higher sustainable economic growth with human capital development, foreign aid, money supply, foreign direct investment and moderate inflation.Social implicationsMacroeconomic indicators, if managed well, increase economic growth.Originality/valueThis paper to the best of the researcher's knowledge presents new background information to both policymakers and researchers on the main macroeconomic determinants using econometric analysis.