Natural resources, financial development and structural transformation in Sub-Saharan Africa

Nwani, Chinazaekpere; Okezie, Benedette Nneka; Nwali, Anthony Chukwuma; Nwokeiwu, Johnson; Duruzor, Gloria Ifeoma; Eze, Ogbonna Nweze

doi:10.1016/j.heliyon.2023.e19522

Cited by 3 publications

(1 citation statement)

References 52 publications

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“… The research mainly focuses on determining the role of FD in the countries' economic development [4][5][6].…”

Section: -Introductionmentioning

confidence: 99%

Financial Development Strategies: Defining Objectives and Priorities

Gospodarchuk,

Zeleneva

2023

Emerg Sci J

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In recent years, scientific and practical interest in the strategic management of countries' financial development has grown significantly. However, an analysis of publications on this topic indicates the absence of a methodology to make strategic decisions on the formation of goals and priorities for financial development. The purpose of this study is to develop a methodology for the strategic management of the financial development of countries. The study uses methods of systemic, comparative, GEP analysis, and a rule-based judgment method. The result of the study is the development of a concept that allows defining strategy, quantified strategic goals and priorities for financial development, and its testing in OECD countries. The novelty of the research lies in the systematic approach to the formation of strategic goals and priorities based on the System of National Accounts, the multi-level system of key indicators of financial development, criteria formalizing alternative strategies, and rules for making strategic decisions. This is the first time such a concept has been proposed. The advantages of the developed concept are high representativeness, objectivity, and a wide range of applications. Its use will improve the quality of strategic management of countries' financial development and ensure transparency in government decisions. Doi: 10.28991/ESJ-2023-07-06-09 Full Text: PDF

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“… The research mainly focuses on determining the role of FD in the countries' economic development [4][5][6].…”

Section: -Introductionmentioning

confidence: 99%

Financial Development Strategies: Defining Objectives and Priorities

Gospodarchuk,

Zeleneva

2023

Emerg Sci J

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Beyond the barrels: The impact of resource wealth on the energy-economy-climate targets in oil-rich economies

Nwani,

Effiong,

Ikechukwu Okere

et al. 2024

Heliyon

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From non‐renewables to renewables and high‐tech production: The impact of natural wealth and technology on ecological load capacity in sub‐Saharan Africa

Nwani,

Okere,

Dimnwobi

et al. 2024

Review Development Economics

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In the face of growing sustainability challenges, this study examines the ecological impacts of natural wealth (NR) and tech‐driven industrial diversification (TID) in sub‐Saharan Africa (SSA). It employs the load capacity factor (LCF), utilizing a panel dataset spanning from 1991 to 2020. The findings reveal that renewable (forest) resources exert a positive and significant influence on LCF, primarily at lower quantiles. When the resource basket is adjusted to include mineral resources, this impact turns negative across all quantiles, with statistical significance evident at the upper quantiles. Further modifications to the resource basket, including energy extraction such as oil, coal, and natural gas, yield a statistically significant negative impact on LCF across the lower, median, and upper quantiles. Additionally, TID has a positive impact on LCF in the upper quantiles. Robustness analysis confirms that the covariates indeed Granger‐cause LCF. This finding also indicates that the causal equation is significantly influenced by past values of NR and TID. The Half‐Panel Jackknife estimator reaffirms that, on average, TID has a positive effect on LCF in the region. These findings suggest enhancing growth through renewables and industrial capacity in medium‐ and high‐tech industries as part of broader sustainability strategies in the SSA region.

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Natural resources, financial development and structural transformation in Sub-Saharan Africa

Cited by 3 publications

References 52 publications

Financial Development Strategies: Defining Objectives and Priorities

Financial Development Strategies: Defining Objectives and Priorities

Beyond the barrels: The impact of resource wealth on the energy-economy-climate targets in oil-rich economies

From non‐renewables to renewables and high‐tech production: The impact of natural wealth and technology on ecological load capacity in sub‐Saharan Africa

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