Contact Us

For Marketing, Sales and Subscriptions Inquiries
Rockefeller Center, 45 Rockefeller Plaza
20th Flr Unit #5, New York, NY 10111
United States

Conference List

Financial Deepening, Interest Rate Spread and Economic Growth: New Evidence from Sub-Sahara Africa

Mohamed Jalloh


Yao Guevera

Mohamed Jalloh 1

Yao Guevera 2

  1. Economic Policy Analysis Unit (EPAU), ECOWAS Commission, Abuja, Nigeria 1

  2. Community Development Programme (CDP), ECOWAS Commission, Nigeria 2

Pages: 52-64

DOI: 10.18488/journal.62.2017.43.52.64

Share :

Article History:

Received: 22 March, 2017
Revised: 10 May, 2017
Accepted: 20 June, 2017
Published: 24 July, 2017


This study examines the nexus between financial deepening, interest rate spread and economic growth using data from Sub-Sahara African (SSA) countries. A dynamic panel approach is employed in estimating the parameters of the specified equation using the Sargan test of over-identification restriction in assessing the validity of the instruments used in addressing potential endogeneity problems of the data. The results show that whilst financial deepening positively drives growth, interest rate spread adversely affect growth in countries studied. In terms of relative effects, the results indicate that enhancing financial deepening by10.0 percent induces economic growth on average by a margin of 4.2 percentage points. On the contrary, however, raising interest rate spread by 10.0 percent reduces growth on average by a margin of 3.6 percentage points in countries studied. Based on these findings, there is a strong need for the implementation of policies that promote financial deepening. In particular, there is a strong need for financial authorities supervising the activities of commercial banks to ensure low interest rate spreads with a view to promoting the efficiency of banks in effectively playing their financial intermediation role to boost economic growth for poverty reduction in SSA countries.

Contribution/ Originality


Financial deepening, interest rate spread, growth, efficiency, intermediation, Sub-Sahara Africa



Arellano, M. and S. Bond, 1991. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58(2): 277- 297. View at Google Scholar | View at Publisher

Arellano, M. and O. Bover, 1995. Another look at the instrumental-variable estimation of error- components models. Journal of Econometrics, 68(1): 29-51. View at Google Scholar | View at Publisher

Arestis, P. and P. Demetriades, 1997. Financial development and economic growth: Assessing the evidence. Economic Journal, 107(442): 783-799. View at Google Scholar | View at Publisher

Arestis, P., P. Demetriades and K. Luintel, 2001. Financial development and economic growth: The role of stock markets. Journal of Money, Credit, and Banking, 33(1): 16-41. View at Google Scholar | View at Publisher

Bencivenga, V.R. and B.D. Smith, 1991. Financial intermediation and endogenous growth. Review of Economic Studies, 58(April): 195-209. View at Google Scholar | View at Publisher

Blundell, R. and S. Bond, 1998. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1): 115-143. View at Google Scholar | View at Publisher

Brock, P. and L. Rojas-Suárez, 2000. Understanding the behaviour of bank spreads in Latin America. Journal of Development Economics, 71(2): 291-299.

Calderon, A. and C. Liu, 2003. The direction of causality between financial development and economic growth. Journal of Development Economics, 72(1): 321 -334. View at Publisher

Christopoulos, D.K. and E.G. Tsionas, 2004. Financial development and economic growth: Evidence from panel unit root and cointegration tests. Journal of Development Economics, 73(1): 55 – 74. View at Google Scholar | View at Publisher

Crowley, J., 2007. Interest rate spreads in english-speaking African countries. IMF Working Paper, No. WP/07/101.

Demetriades, P. and K. Hussein, 1996. Does financial development cause economic growth? Time series evidence from 16 countries. Journal of Development Economics, 51(2): 387-411. View at Google Scholar | View at Publisher

Fritz, R.G., 1984. Time series evidence on the causal relationship between financial deepening and economic development. Journal of Economic Development, 9(1): 91-112. View at Google Scholar 

Fry, M., 1995. Money, interest, and banking in economic development. Baltimore MD: Johns Hopkins University Press.

Gelbard, E. and L.S. Pereira, 1999. Measuring financial development in Sub-Saharan Africa. IMF Working Paper 99/105. Washington DC: International Monetary Fund.

Goldsmith, R.W., 1969. Financial structure and development. New Haven: Yale University Press.

Greenwood, J. and B. Jovanovic, 1990. Financial development, growth and the distribution of income. Journal of Political Economy, 98(5): 1076-1107. View at Google Scholar | View at Publisher

Gurley, J.G. and E.S. Shaw, 1967. Financial structure and economic development. Economic Development and Cultural Change, 15(31): 257–268. View at Google Scholar 

Jao, Y.C., 1976. Financial deepening and economic growth: A cross-section analysis. Malayan Economic Review, 21(1): 47–58. View at Google Scholar 

Jung, W.S., 1986. Financial development and economic growth: International evidence. Economic Development and Cultural Change, 34(2): 333-346. View at Google Scholar | View at Publisher

King, R.G. and R. Levine, 1993b. Finance, entrepreneurship and growth; theory and evidence. Journal of Monetary Economics, 32(December): 513 – 542.

Levine, R., N. Loayza and T. Beck, 2000. Financial intermediation and growth: Causality and causes. Journal of Monetary Economics, 46(1): 31 - 77. View at Publisher

Luintel, R.B. and M. Khan, 1999. A quantitative reassessment of the finance-growth nexus: Evidence from a multivariate VAR. Journal of Development Economics, 60(2): 381-405. View at Google Scholar | View at Publisher

Mattesini, F., 1996. Interest rate spreads and endogenous growth. Economic Notes, 25(1): 111-129. View at Google Scholar 

Meier, G., 1984. Leading issues in economic development. Oxford: Oxford University Press, Inc.

Ndebbio, J.E.U., 2004. Financial deepening, economic growth and development: Evidence from selected Sub-Saharan African countries. African Economic Research Consortium (AERC) Research Paper No. 142, Nairobi Kenya.

Ndikumana, L., 2000. Financial determinants of domestic investment in Sub-Sahara Africa evidence from panel data. World Development, 28(2): 381 – 400. View at Google Scholar | View at Publisher

Ndung’u, N. and R.W. Ngugi, 2000. Banking sector interest rate spreads in Kenya. Kenya Institute for Public Policy Research and Analysis Discussion Paper, No. 5.

Neusser, K. and M. Kulger, 1998. Manufacturing growth and financial development: Evidence From OECD countries. Review of Economics and Statistics, 80(4): 638-646. View at Google Scholar | View at Publisher

Ngugi, R.W., 2004. Determinants of interest spread in Kenya. Nairobi, Kenya: Kenya Institute for Public Policy Research and Analysis.

Odedokun, M.O., 1996. Alternative econometric approaches for analyzing the role  of financial sector in economic growth: Time series evidence from LDCs. Journal of Development Economics, 50(1): 119 -146. View at Google Scholar | View at Publisher

Quaden, G., 2004. Efficiency and stability in an evolving financial system. Retrieved from .

Randall, R., 1998. Interest rate spreads in the Eastern Caribbean. IMF Working Paper, No. P/98/59.


Google Scholor ideas Microsoft Academic Search bing Google Scholor


This study received no specific financial support.

Competing Interests:

The authors declare that they have no competing interests.


Both authors contributed equally to the conception and design of the study.

Related Article

( 1 ) Gaining Trust After the Financial Crisis in the Nigerian Economy: A Conceptual Framework
( 2 ) Financial Integration and International Risk Diversification
( 3 ) Teachers Characteristics and Students’ Performance Level in Senior Secondary School Financial Accounting
( 4 ) The Nexus between Financial Crisis and Household Consumption: Evidence from Emerging Countries
( 5 ) Relationships between Financial Development and Economic Growth: A New Approach by Inputs
( 6 ) The Impact of Dividend Policy on Shareholders’ Wealth before and After Financial Melt down: Evidence from FMCG Sector in India
( 7 ) The Effect of Selected Financial Ratios on Profitability: An Empirical Analysis of Listed Firms of Cement Sector in Saudi Arabia
( 8 ) Stock Market Index Prediction with Neural Network during Financial Crises: A Review on Bist-100
( 9 ) The Effects of Changes in Accounting Standards on Value Relevance of Financial Statement Information of Malaysia and Nigeria Banks
( 10 ) The Impact of the Global Financial Crisis on the Debt, Liquidity, Growth, and Volume of Companies in Palestine Stock Exchange
( 11 ) Managerial Judgement Versus Financial Techniques in Strategic Investment Decisions: An Empirical Study on the Syrian Coastal Region Firms
( 12 ) Financial Deepening, Interest Rate Spread and Economic Growth: New Evidence from Sub-Sahara Africa
( 13 ) Financial Tables Reports Gaps in Jordanian Islamic Banks
( 14 ) Effects of Corporate Social Responsibility on Banks Financial Performance in Nigeria: A Study of United Bank of Africa
( 15 ) Financial Market Predictions with Factorization Machines: Trading the Opening Hour Based on Overnight Social Media Data
( 16 ) Leading Indicators and Financial Crisis: A Multi-Sectoral Approach Using Signal Extraction
( 17 ) Correlation between Financial Difficulties and Financing Strategies among Market Stallholders in Batangas City
( 18 ) The Relationship between Financial Development, Economic Growth, and Inflation: Evidence from Southeast Asia
( 19 ) The Mediating Effect of Financial Self-Efficacy on the Financial Literacy-Behavior Relationship: A Case of Generation Y Professionals
( 20 ) The Effect of Corporate Social Responsibility Disclosure on Corporate Financial Performance
( 21 ) Analyzing the Financial Soundness of Kuwaiti Banks Using CAMELS Framework
( 22 ) Analysing the Financial Strength of Nigeria: An Approach to Estimate the Index of Financial Safety
( 23 ) Determinants of Financial Performance and its Impact on the Growth of Islamic Bank Assets on Indonesia
( 24 ) Financial Inclusion and Poverty Alleviation: The Contribution of Commercial Banks in West Africa
( 25 ) Do Derivative Instruments Increase Firm Risk for Indonesia Non-Financial Companies?
( 26 ) The Impact of Economic Growth, Oil Price, and Financial Globalization Uncertainty on Financial Development: Evidence from Selected Leading African Countries
( 27 ) Interest Rate Ceilings and Financial Exclusion in Kenya: Evidence from Commercial Banks’ Sectoral Credit Distribution
( 28 ) Drivers Behind the Financial Insolvency: An Empirical Study on the Textile Industry in Bangladesh
( 29 ) International Financial Reporting Standards Adoption and Earnings Management: The Fundamental Effect Framework
( 30 ) The Impact of Merger and Acquisition on the Financial Performance of the Nasdaq Listed Small Size Technology Companies
( 31 ) Financial Risks in Turkish Banking Industry: A Panel Data Analaysis on Istanbul Stock Exchange
( 32 ) The Euribor and EONIA Reform: Achieving Regulatory Compliance while Protecting Financial Stability
( 33 ) The Financial Decentralization Policy for Local Development in Cameroon: An Econometric Analysis
( 34 ) A Study on Financial Performance of Transport & Warehouses Firms Listed on the Hanoi Stock Exchange
( 35 ) Financial Development and Economic Growth in Nigeria: New Evidence from a Threshold Autoregressive and Asymmetric Analysis
( 36 ) Employee Motivation in Light Oncial, Non-Financial Rewards and Employee Commitment among Pharmaceutical SMEs of Indonesia
( 37 ) Financial Instability and the State of Environmental Quality in Nigeria
( 38 ) Relational Capabilities under Moderating and Mediating Effects to Understand their Impacts on Firm Financial Performance
( 41 ) Profitability of Commercial Bank on Interest Rate Deregulation
( 42 ) The Impact of Social Media on Economic Growth: Empirical Evidence of Facebook, YouTube, Twitter and Pinterest
( 44 ) Importance of Corporate Governance Quality and Voluntary Disclosures of Corporate Governance Information in Listed Malaysian Family Controlled Businesses
( 45 ) Strategic Evaluation of Distributed Power Generation Technology: A Sustainable Approach
( 46 ) The Effects of Exchange Rate Liberalization in Kenya on French Beans Exports
( 47 ) Exchange Rate Movements, Import And Economic Growth in Nigeria (1986-2010)
( 48 ) Impact of Food Beverage Price Index and Exchange Rate Volatility on Economic Growth
( 49 ) Rate of Return Would Not Increase To the Extent of Annuity Saving Discount
( 50 ) The Association Between Corporate Risk Disclosure and Firm Performance in Emerging Country – The Case of Egypt
( 51 ) A Model of Strategic Thinking: Islamic and Iranian Perspective
( 52 ) Promoting Local Acceptability of International Oil Companies (IOCS) Through Corporate Social Responsibility (CSR): The Case of Tullow Oil in Ghana
( 53 ) Challenges and Survival Strategies for Women in Small Scale Catering Business: A Case Study of Siyaso Magaba, Mbare
( 54 ) Attributes Influencing Strategic Alignment in the Service Sector: An Indonesian Banking Sector Case Study
( 55 ) Role of Foreign Investment and External Debt in Determination of Exchange Rate
( 56 ) The Role of Strategic Planning on the Management of Organizational Change
( 57 ) Development, Preference Change, and Inequality in an Integrated Walrasian-General-Equilibrium and Neoclassical-Growth Theory
( 59 ) Corporate Funding and Sustainability of Non- Governmental Organizations in Africa
( 60 ) The Effect of Exchange Rate Changes on Consumer Prices in Nigeria: Evidence from VECM Model
( 61 ) Dynamics of Inflation, Economic Growth, Money Supply and Exchange Rate in India: Evidence from Multivariate Analysis
( 62 ) Implications of Crude Oil Price Volatility and Parallel Exchange Rate Fluctuation on the Cost of Living in Nigeria
( 64 ) Implications of Accountants Unethical Behavior and Corporate Failures
( 65 ) Relevance of Stakeholders Theory, Organizational Identity Theory and Social Exchange Theory to Corporate Social Responsibility and Employees Performance in the Commercial Banks in Nigeria
( 67 ) The Effects of Exchange Rate Variability on Trade Flows in Nigeria: A Cointegration Analysis
( 68 ) The Profitability of Momentum Strategies: Empirical Evidence from Damascus Securities Exchange (DSE)
( 69 ) The Moderating Effect of Governance Mechanisms on the Relationship Between Innovation Strategy and the Performance
( 70 ) Public-Private Partnership as a Strategy for E-Governance Funding in Africa: The Gains and the Pains
( 71 ) Does Gold Price Lead or Lags Islamic Stock Market and Strategy Commodity Price? A Study from Malaysia
( 72 ) Exchange Rate and Foreign Reserves Interface: Empirical Evidence from Nigeria
( 74 ) Impact of Exchange Rate Fluctuation on Selected Economic Sectors of the Nigerian Economy
( 75 ) Migration as a Livelihood Strategy: The Case of Internal Migration in Ghana
( 77 ) Africa's Human Capital Development: Is Public Finance Management an Effective Strategy?
( 78 ) The Transitional Relationship between Economic Growth and Exchange Rate in Ghana: An Empirical Approach
( 79 ) Determinants of Corporate Tax Avoidance Strategies among Multinational Corporations in Malaysia
( 81 ) Determinants of Exchange Rate in Nigeria: A Comparison of the Official and Parallel Market Rates
( 82 ) Exchange Rate Pass-through to Prices: VAR Evidence for Albania
( 83 ) Growing and Building: Collaboration of Urban Poverty Reduction Strategy
( 84 ) Issues of Unemployment in Nigeria: Effect of Real Exchange Rate and Inflation Interaction
( 85 ) Exchange Rate Volatility, Foreign Exchange Market Intervention and Asymmetric Preferences
( 86 ) An Agnostic Analysis of Exchange Rate Movement in Ghana
( 87 ) An Empirical Investigation of Real Exchange Rate Responses to Foreign Currency Inflows: Revisiting the Dutch Disease Phenomenon in South Asia
( 88 ) Management of The CFA Franc: What are the Fundamentals of the Real Exchange Rate in West African Economic and Monetary Union (WAEMU)?
( 89 ) Innovation Strategy and Sustainability of Micro, Small and Medium Enterprises in South East Nigeria
( 90 ) Effect of Savings Deposit Rate on Stock Market Capitalization in Nigeria: An Empirical Investigation
( 91 ) Determinants of Profitability and its Implications on Corporate Values (Studies at Ceramic, Porcelain and Glass Sub Sector Listed in Indonesia Stock Exchange, 2009 - 2018)
( 92 ) Exchange Rate Volatility and Agricultural Commodity Prices i Nigeria (2000-2018)
( 94 ) Corporate Social Responsibility Disclosure in Indonesia: A Bibliographic Study
( 95 ) Influence of Corporate Characteristics on Firm Leverage: Evidence from Bangladesh
( 96 ) The Impact of Data Frequency on the Level of Exchange Rate Pass-through to Consumer Prices in Nigeria
( 97 ) Exchange Rate Fluctuations and the Performance of Nairobi Securities Exchange Market in Kenya During the Coronavirus Pandemic
( 98 ) The Effects of The Covid-19 Pandemic on Exploitative and Explorative Strategies of Pharmaceutical Industries in Brazil
( 99 ) IT Governance as Drivers of Dynamic Capabilities to Gain Corporate Performance Under the Effects of Environmental Dynamism
( 100 ) Income Shocks and Child Mortality Rates: Evidence from Fluctuations in Oil Prices
( 101 ) Central Bank Independence and Economic Growth of Ghana: What Inflation and GDP Per Capita Growth Rates Matter?
( 102 ) Analysis of Synergies in Indian Corporate M&A Deals: A Logit Regression Approach
( 103 ) CSR Themes Quality, Good Corporate Governance, and Earnings Management: Evidence from Indonesia
( 104 ) An Analyses of Exchange Rate Volatility: A Case of SANE Countries
( 105 ) Inflationary Rate in Nigeria: Impact of Foreign Capital Inflows
( 107 ) Consideration the Relationship Between Information Communications Technology and Economic Growth in Top 10 Economic
( 108 ) Shifting Global Economic Paradigm
( 109 ) How Telecommunication Development Aids Economic Growth: Evidence from Itu Ict Development Index (IDI) Top Five Countries for African Region
( 110 ) The Prospects of Accounting and Economic Systems in the Era of Global Knowledge Economy
( 111 ) Labor and Economic Growth in Zimbabwe
( 112 ) The Impact of Human Capital on Economic Growth: Evidence from Tunisia Using Star and Stecm Models
( 115 ) Long-Run Relationships and Causality Tests Between Military Expenditure and Economic Growth in India
( 116 ) Public Infrastructure Spending and Economic Growth in Nigeria: An Error Correction Mechanism (ECM) Approach
( 117 ) Study of the Relationship between Economic Growth and Inflation: Application to the Countries of the South Side of the Mediterranean: A Panel Data Approach
( 118 ) The Entrepreneurship, Knowledge Spillover and Economic Growth
( 119 ) Corruption’s and Democracy’s Effects on Economic Growth
( 121 ) Impact of Microfinance Lending On Economic Growth of Third world Nations: Study of Nigeria
( 122 ) The Role of Information and Communication Technology in Rural Socio-Economic Development in Africa
( 123 ) Dividend Policy Relevancy in Theoretical and Practical Economics
( 124 ) Consideration the Effects of Water Sector Investment on Economic Growth in Iran
( 125 ) Is Brics a Viable Solution for Russia in the Context of the Present Eu’s Economic Sanctions?
( 126 ) Stock Market Performance and Economic Growth: Evidence from Nigeria Employing Vector Error Correction Model Framework
( 127 ) Rural Saving Mobilizations and Economic Development in Akamkpa Local Government Area of Cross River State - Nigeria
( 128 ) Nigerian Politics, Economic Development, and the Role of Human Rights Organisations on Elections
( 129 ) Rural - Urban Balance as a Measure of Socio-Economic Development with Special Reference to Iran
( 130 ) Causal Relationship between Imports and Economic Growth in Zimbabwe: An Empirical Analysis 1975 – 2013
( 131 ) The Effect of Access and Quality of Education on Economic Development in Botswana
( 132 ) Panel Data Analysis of the Impact of Economic Freedom as Well as Economic Conditions, The Quality of Life, and Public Education Spending on U.S. Undocumented Immigrant Settlement Patterns
( 134 ) Structural Breaks, Electricity Generation and Economic Growth in Nigeria
( 135 ) Comparative Analysis of the Effectiveness of Coub-Douglas, Real Business Cycle, and Keynsian Growth Models in Determining Economic Growth in Nigeria
( 136 ) The Link Between Agricultural Budgetary Allocation and Economic Growth in Nigeria
( 138 ) China Pakistan Economic Corridor (CPEC): Analysis of Internal and External Challenges
( 139 ) A Case Study of Local Government Implementation of the Ward Based Local Economic Development (LED) Program
( 140 ) Military Regimes and Nigeria’s Economic Development, 1966-1999
( 141 ) An Investigation of the Relationship between Manufacturing Output and Economic Growth : Evidence from Nigerias Data Set
( 142 ) Scenario Economic Impact Analysis of Offshore Fishing Tournaments in Ocean City
( 143 ) Macroeconomic Indicators and Capital Formation Growth in Nigeria: A New Evidence
( 144 ) An Empirical Investigation into the Key Drivers of Economic Performance in the CEMAC Zone: A Panel Corrected Standard Errors Approach
( 145 ) Disaggregated Foreign Capital Inflows and Economic Growth in a Developing Economy: Empirical Evidence from Nigeria
( 146 ) Impact of Telecommunications Market Liberalization on Labor Productivity in Economic Community of West African States
( 147 ) Assessment of Dual Carriageway for Sustainable Socio-Economic Development in Ado Ekiti, Nigeria
( 148 ) Industrialization and Economic Growth in Sub-Saharan Africa: The Role of Human Capital in Structural Transformation
( 149 ) Does Agricultural Sector Contribute to the Economic Growth in Case of Republic of Benin?
( 150 ) Uncertainties in Global Economic Policy and Nigerias Export Earnings
( 151 ) Public Health Expenditure, Economic Growth and Health Outcomes in Nigeria
( 152 ) External Debt and Economic Growth: Two-Step System GMM Evidence for Sub-Saharan Africa Countries
( 154 ) The Colonialists & Indigenous Exchange Currency: Tracing the Genesis of Socioeconomic Woes in Postcolonial Nigeria
( 156 ) Estimating the Economic Determinants of Technical Efficiency of Bioenergy in EU-28: An Application of Tobit Analysis
( 157 ) The Impact of Military Spending on Economic Wellbeing in Nigeria
( 159 ) German Exports, Economic Growth and Foreign Demand: An Analysis of the Period 2000–2017
( 160 ) Does External Borrowing Affect Economic Growth? A Revisit of the Age-Long Debate for Nigeria
( 161 ) Nexus between Non-Oil Sectoral Contribution and Economic Growth in Nigeria 1981-2018
( 163 ) Investigating the Environmental Effects of Economic Growth in African Economies
( 164 ) Analysis of Causal Nexus between Defense Spending and Economic Growth in Nigeria: A Toda-Yamamoto Approach
( 167 ) The Effects of Macroeconomic Variables on Bank Default: A Case Study in Brazil
( 168 ) Deficit Financing Asymmetry and Nigerias Economic Growth: A Nonlinear Autoregressive Distributed Lag Approach
( 169 ) Impact of Savings on Economic Growth in Africa
( 170 ) Does Corruption Grease or Sand the Wheels of Economic Growth in Ghana? An ARDL Bounds Test
( 171 ) Fiscal Decentralization and Economic Growth: Assessing Public Policy in Ukraine
( 172 ) Socioeconomic Environment and Obesity on the US West and East Coasts
( 173 ) Human Capital and Economic Growth in Latin America: A Cointegration and Causality Analysis
( 174 ) An Empirical Investigation of the Impact of FDI, Export and Gross Domestic Savings on the Economic Growth in Bangladesh
( 175 ) Exploring the Linkages between Remittances, Economic Growth and Poverty: Empirical Evidence from Pakistan
( 176 ) Human Capital Development and Economic Growth in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach
( 177 ) Contribution of Domestic Direct Investment and Direct Foreign Investment to Economic Growth in Indonesia Era Joko Widodo
( 178 ) Contribution of Ready-Made Garments Industry on the Economic Development of Bangladesh: An Empirical Analysis
( 179 ) The Impact of Covid-19 Pandemic on the Global Economy: Emphasis on Poverty Alleviation and Economic Growth
( 180 ) Impacts of Domestic Savings and Domestic Investment on Economic Growth: An Empirical Study for Pakistan
( 182 ) Socioeconomic Determinants of Drug Abuse in the United States
( 184 ) Investigating the Nexus among Poverty Alleviation, Unemployment, and Economic Development in Nigeria
( 185 ) Economic and Noneconomic Forces on Remittance Receiving: A Panel Analysis of Top Remittance Sending Countries towards Bangladesh
( 186 ) The Role of Social Capital and Social Innovation in Economic Growth
( 187 ) Twin Deficit Hypothesis and Macroeconomic Fundamentals: New Evidence from Nigeria
( 188 ) Nexus of Monetary Policy on Economic Growth: A Study of Ghana
( 200 ) New Evidence on the Link Between Income Inequality and Misery Index: A Nonlinear Time Series Analysis
( 204 ) Foreign Capital Inflows and Unemployment in Nigeria: A New Evidence from ARDL-Bounds Testing Approach
( 205 ) Modelling Stock Returns Volatility and Asymmetric News Effect: A Global Perspective
( 207 ) The New Pattern of Online Credit Loan in the Post-Epidemic Era
( 208 ) Impacts of the U.S.-China Trade Conflicts News on U.S. and Chinese Stock Returns
( 214 ) Effective Tax Administration and Institutionalization of Accounting Systems in Small and Medium Scale Enterprises: Evidence from Nigeria
( 215 ) Moderating Effect of Demographics on Monetary Motivation and Employees Job Performance Relationship: Evidence from Malaysia
( 218 ) Share Options, Share Award and Firm’s Performance: Evidence from Malaysian Public Listed Companies
( 219 ) Impact of Inflation on Per Capita Income in Emerging Economies: Evidence from BRICS Nations