FINANCIAL AND ECONOMIC DETERMINANTS OF SUSTAINABLE ECONOMIC GROWTH IN EGYPT, NIGERIA AND SOUTH AFRICA
FINANCIAL AND ECONOMIC DETERMINANTS OF SUSTAINABLE ECONOMIC GROWTH IN EGYPT, NIGERIA AND SOUTH AFRICA
Author(s): Zakaria Yakubu, Nanthakumar Loganathan, Asan Ali Golam Hassan, Abbas Mardani, Dalia StreimikieneSubject(s): Geography, Regional studies, Economic development, Post-War period (1950 - 1989), Transformation Period (1990 - 2010), Present Times (2010 - today)
Published by: Fundacja Centrum Badań Socjologicznych
Keywords: bootstrap quantile regression; cointegration; economic growth;
Summary/Abstract: This study analyzes financial and economic determinants of sustainable economic performance using the quantile regression for the period from 1970 to 2016 for Egypt, Nigeria and South Africa. The main drivers of sustainable economic performance vary among the economies. It is driven by trade openness, government expenditure and political stability in Egypt. In South Africa, the desired threshold for financial development to impact growth is reached. Also, there is complementarity between financial development and trade openness. This proves their advancement at the domestic financial markets in the direction to sustainable economic performance. Interestingly, Nigerian economy’s sustainable growth is enhanced by capital account openness. Policies that will boast intra trade in Africa are encouraged as the AfCFTA has come to spur manufacturing activities on the continent. At the same time, emphasis should be set to improve financial and economic determinants of sustainable economic performance.
Journal: Journal of International Studies
- Issue Year: 12/2019
- Issue No: 4
- Page Range: 160-176
- Page Count: 17
- Language: English