Financial development and Economic performance in Sub Saharan African Nations

Nura Sani Yahaya, Hassan Abdullahi, Hafsat Garba Abdullahi and Gambo Zakari
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Nura Sani Yahaya: Kano State College of Education and Preliminary studies, Nigeria
Hassan Abdullahi: RMK College of advanced and remedial studies, Tudun Wada. Kano state, Nigeria
Hafsat Garba Abdullahi: RMK College of advanced and remedial studies, Tudun Wada. Kano state, Nigeria
Gambo Zakari: Kano State College of Education and Preliminary studies, Nigeria

International Journal of Research and Scientific Innovation, 2020, vol. 7, issue 9, 369-372

Abstract: This study examines the link among financial progress, energy consumption, FDI, trade and economic performance in 8 selected economies of Sub Saharan African nations (SSA) from 2000 – 2014 using FMOLS technique. The outcome from the cointegration test confirm the long run linkage among the variables. The estimates reveal that financial progress, energy utilization, FDI are positively related with economic performance, while trade openness decelerates on economic progress. However, trade balance is not significant in explaining the variation in GDP in the selected SSA nations. The study suggests that policymakers should formulate advanced financial reform policies for more effective economic growth performance and development in these nations through enhancing credit allocation especially to the rural settings. It is also need for stakeholders to emphasize on the enlightenment campaigns on the proper management of credit for viable investment.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:bjc:journl:v:7:y:2020:i:9:p:369-372

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