Special Issue "Financial Reform and Economic Development"

A special issue of Economies (ISSN 2227-7099).

Deadline for manuscript submissions: closed (30 June 2017).

Special Issue Editor

Dr. Helmi Hamdi
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Guest Editor
Centre d'Études et de Recherche en Gestion (CERGAM), Institut d'Administration des Entreprises (IAE), Université d'Aix-Marseille AMU, France

Special Issue Information

Dear Colleagues,

Over the past two decades, the financial sector has emerged spectacularly and financial innovations have been developed at a spectacular rate. In advanced countries, various financial reforms have been implemented and they have shown their effectiveness in bolstering economic growth. However, in some developing countries, the banking sector is still under-developed and it is still suffering from some anomalies. Therefore, it appears that one of the solutions that help in promoting economic development is the implementation of efficient financial reforms. The aim of this Special Issue is to show how financial reforms have been successful in stimulating economic development in some countries around the world, using single country studies or a panel of countries.

Dr. Helmi Hamdi
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

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Published Papers (5 papers)

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Editorial

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Open AccessEditorial
Financial Reform and Economic Development
Economies 2015, 3(4), 235-236; https://doi.org/10.3390/economies3040235 - 21 Dec 2015
Abstract
The crucial role of the financial sector in the process of economic development and growth is widely acknowledged by scholars and policymakers. Full article
(This article belongs to the Special Issue Financial Reform and Economic Development)

Research

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Open AccessArticle
Financial Reforms, Financial Development, and Economic Growth in the Ivory Coast
Economies 2017, 5(1), 7; https://doi.org/10.3390/economies5010007 - 24 Feb 2017
Cited by 3
Abstract
This study investigates the relationship between financial development and economic growth in the Ivory Coast over the period from 1961 to 2014. The final goal of this research is to develop a procedure to identify the effects of financial reforms for the Ivory [...] Read more.
This study investigates the relationship between financial development and economic growth in the Ivory Coast over the period from 1961 to 2014. The final goal of this research is to develop a procedure to identify the effects of financial reforms for the Ivory Coast economic growth. Therefore, to achieve this goal, we first conducted a common component analysis (CCA) on our time series data to create: (1) a variable that would be the most appropriate proxy for the financial development; and (2) a vector of control variables for economic growth. Second, a vector autoregression model (VAR) with restriction was used as an appropriate specification of the dynamic relationship between the proxy of financial development, economic growth and other important factors of that growth (vector of control variables). Results suggest that in the Ivory Coast, growth in financial development is synonymous with the overall economic growth of the national economy. This study addresses the controversy over the appropriate proxy for the financial development in the Ivory Coast and it establishes a causal relationship between the financial development and the national economic growth. Full article
(This article belongs to the Special Issue Financial Reform and Economic Development)
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Open AccessArticle
Financial Reforms and Determinants of FDI: Evidence from Landlocked Countries in Sub-Saharan Africa
Economies 2017, 5(1), 1; https://doi.org/10.3390/economies5010001 - 01 Jan 2017
Cited by 3
Abstract
The recognition of Foreign Direct Investment (FDI) as a source of funding to foster economic development in both developed and developing countries has been in ascendancy. The prime purpose of this study is to empirically investigate the determinants of FDI for the “landlocked [...] Read more.
The recognition of Foreign Direct Investment (FDI) as a source of funding to foster economic development in both developed and developing countries has been in ascendancy. The prime purpose of this study is to empirically investigate the determinants of FDI for the “landlocked countries” in Sub-Saharan Africa over the period 1995–2013. By employing panel data analysis, the result of the study revealed that domestic investment, trade (openness), human capital, political constraint, natural resource endowment and the market size (with the GDP growth as proxy) as having positive impact on determining FDI flow into the sample countries with only the countries’ tax policies seen otherwise. Our study not only contributes to existing literature on FDI determinants by investigating landlocked countries of Sub-Saharan Africa (SSA) for the first time but also includes natural resources that the landlocked countries are endowed with, tax policies and political constraints in such countries for the stipulated period. Full article
(This article belongs to the Special Issue Financial Reform and Economic Development)
Open AccessArticle
Does Financial Development Drive Private Investment in Ghana?
Economies 2016, 4(4), 27; https://doi.org/10.3390/economies4040027 - 01 Dec 2016
Cited by 2
Abstract
There is ample evidence from economic growth literature that investment accelerates economic growth and development of developing countries, of which Ghana is not an exception. Based on this, recent growth and development policies in Ghana have focused more on encouraging private sector investment [...] Read more.
There is ample evidence from economic growth literature that investment accelerates economic growth and development of developing countries, of which Ghana is not an exception. Based on this, recent growth and development policies in Ghana have focused more on encouraging private sector investment through the development of the financial sector. This paper investigates the short- and long-run impact of financial development on private investment in Ghana for the years 1970–2014. Additionally, to find out whether the measurement of financial development matters for private investment, several indicators of financial development are used. The results, based on the ARDL bounds testing approach to cointegration, suggest that financial development has not been a key driver of private investment in the long run, while, in the short run, the effect of financial development on private investment depends on how financial development is measured. Given these results, policy makers should be circumspect regarding the choice of financial development indicator used as a policy instrument in the design and implementation of private investment policies for Ghana. Full article
(This article belongs to the Special Issue Financial Reform and Economic Development)
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Open AccessArticle
The Impact of Financial Development on Economic Growth in Nigeria: An ARDL Analysis
Economies 2016, 4(4), 26; https://doi.org/10.3390/economies4040026 - 07 Nov 2016
Cited by 3
Abstract
This study empirically examines the relationship between financial intermediary development and economic growth in Nigeria over the period 1981–2011 using the auto-regressive distributed lag (ARDL) approach to co-integration analysis. The results show that the relationship between financial development and economic growth in Nigeria [...] Read more.
This study empirically examines the relationship between financial intermediary development and economic growth in Nigeria over the period 1981–2011 using the auto-regressive distributed lag (ARDL) approach to co-integration analysis. The results show that the relationship between financial development and economic growth in Nigeria is not significantly different from what has been observed generally in oil-dependent economies. The relationship between financial intermediary development and economic growth in Nigeria is found to be insignificantly negative in the long-run and significantly negative in the short-run. The results highlight the dominant role of the oil sector in economic activities in Nigeria. Full article
(This article belongs to the Special Issue Financial Reform and Economic Development)
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