Financial Inclusion and Monetary Policy in West Africa

Akanbi, Sa’ad Babatunde; Dauda, Ridwan Olamilekan; Yusuf, Hammed Agboola; Abdulrahman, Abdulganiyu Idris

doi:10.24191/jeeir.v8i2.8161

Cited by 9 publications

(8 citation statements)

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“…This implies that even though the civil armed conflicts in Afghanistan reduced the employability from one side, while on the other, the emergence of banking system, outreach of financial inclusion to potentially bankable population have raised the employability in Afghanistan. The results are consistent with those of Kim et al [69], Mehry et al [70], Azimi [42], Akanbi et al [71], and Alshyab et al [72], who also found that financial inclusion significantly reduces the unemployment rate, while there is a large proportion of the world population that is still financially excluded.…”

Section: Data Availability Statementsupporting

confidence: 91%

Analyzing the Consequences of Long-Run Civil War on Unemployment Rate: Empirical Evidence from Afghanistan

2023

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This article aims to uncover the asymmetric labor-market consequences of the long-run civil war in Afghanistan by employing a non-linear autoregressive distributed lags (NARDL) model and an asymmetric causality technique over the period from 2004Q3 to 2020Q4. The findings from the NARDL model reveal that the positive asymmetric shocks from the cost of war, GDP growth, final government expenditure, foreign direct investment, and the rule of law significantly decrease the unemployment rate, while their negative asymmetric shocks increase the unemployment rate in the short and long runs. Innovatively, the composite financial inclusion index has been incorporated into the model, which provides interesting results. It demonstrates that enhancing the outreach of financial services plays an important role in reducing the unemployment rate during wartime in Afghanistan, while its exclusion is found to increase the unemployment rate both in the short and long runs. Moreover, the results of the asymmetric causality test reveal that an asymmetric causality runs from both the positive and negative components of the cost of war, the composite financial inclusion index, GDP growth, foreign direct investment, inflation rate, population growth, and the rule of law to the unemployment rate, while no evidence is found to support a causality nexus between the unemployment rate, final government expenditure, and the secondary school enrollment rate. The results entail several policy implications that are discussed.

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Section: Data Availability Statementsupporting

confidence: 91%

Analyzing the Consequences of Long-Run Civil War on Unemployment Rate: Empirical Evidence from Afghanistan

2023

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“…The residual must be homoscedastic for the model to be more accurate. If the probability value is greater than 5%, there is enough evidence to conclude that the residuals are homoscedastic (Akanbi et al, 2020). Table 6 demonstrates that the p-value above the significance level of 5%, allowing us to accept the null hypothesis.…”

Section: Diagnostic Test Of Residualsmentioning

confidence: 90%

“…To determine whether the model is normal, the Jarque-Bera test has been run to evaluate the model's normality. (Akanbi et al, 2020). The outcome of the model's normality test is depicted in Figure 2.…”

Section: Diagnostic Test Of Residualsmentioning

confidence: 99%

Nexus between Tourism Industry and Economic Growth of Nepal

Dhungana

2023

J. Tourism Himalayan Adventures

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The tourism sector is essential to economic growth and has the capacity to stimulate the economy. The aim of this paper to assess the relationship between tourism industry and its economic growth. The gross domestic product (GDP) indicates the economic growth and tourism industry development relates to tourist arrivals, length of stay, and gross foreign exchange earnings from tourism. This study is grounded on secondary data collected from the Economic Survey of Nepal and the Nepal Tourism Statistics from 2000 to 2021. The study finds short and long-term causality between tourism industry and economic growth. The tourism development indicators include arrivals of tourist, length of stay, and gross foreign exchange from tourism. The unidirectional causality of economic growth to the length of stay of tourists and tourism to gross foreign exchange earnings were observed in the study. Adequate government strategies for the tourism sector can accelerate economic growth. The policymakers should give adequate attention to diversifying the tourism services, improving infrastructure, encouraging local communities, promoting sustainable tourism, enhancing marketing efforts, and promoting collaborations between the public, commercial sectors and local communities to support tourism industry for the sustained in Nepal.

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“…In terms of research: The researches on financial inclusion, green finance, and green growth mostly focus on single goals: (1) Financial inclusion with the goal of national macro-financial stability (Barik & Pradhan, 2021;Vo et al, 2019) or concentrating on stabilizing monetary policy (Akanbi et al, 2020;Jungo et al, 2022b;Maher, 2022;Ridwan, 2022), or contributing to sustainable development (Adegbite & Machethe, 2020;Ozili, 2022a;Tay et al, 2022). Recently, research on financial inclusion in the green sector includes research on financial inclusion and renewable energy (Cui et al, 2022), comprehensive policy and technology development (Ahmad, Khan, & Magda, 2022).…”

Section: Review Of Previous Researchmentioning

confidence: 99%

Sustainable development: Driving force from the relationship between finance inclusion, green finance and green growth

Oanh

2023

Sustainable Development

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This paper studies sustainable development and its driving force—the linkage between financial inclusion, green finance and green growth in 14 low financial development countries (LFDCs) and 11 high financial development countries (HFDCs) from 2005 to 2019. Bayesian regression results show that when green finance is not taken into account, the probabilities that green GDP growth positively impacts sustainable development in HFDCs and LFDCs are 58.31% and 61.06%, respectively. The probability that financial inclusion positively impacts sustainable development in HFDCs is 88.34% and it is 100% in LFDCs. The interaction between green finance and financial inclusion positively impacts sustainable development in both groups of countries. In addition, this article also provides evidence that the rate of urbanization and trade openness positively affect sustainable development. In contrast, the rate of inflation and the population growth rate impact sustainable development negatively.

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Financial Inclusion and Monetary Policy in West Africa

Cited by 9 publications

References 0 publications

Analyzing the Consequences of Long-Run Civil War on Unemployment Rate: Empirical Evidence from Afghanistan

Analyzing the Consequences of Long-Run Civil War on Unemployment Rate: Empirical Evidence from Afghanistan

Nexus between Tourism Industry and Economic Growth of Nepal

Sustainable development: Driving force from the relationship between finance inclusion, green finance and green growth

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