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Finacial liberalisation and sustainable economic growth in ECOWAS countries

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dc.contributor.advisor Odhiambo, Nicholas M; Owusu, Erasmus Labri 2012-07-13T07:07:27Z 2012-07-13T07:07:27Z 2012-05
dc.identifier.citation Owusu, Erasmus Labri (2012) Finacial liberalisation and sustainable economic growth in ECOWAS countries, University of South Africa, Pretoria, <> en
dc.description.abstract The thesis examines the comprehensive relationship between all aspects of financial liberalisation and economic growth in three countries from the Economic Community of West African States (ECOWAS). Employing ARDL bounds test approach and real GDP per capita as growth indicator; the thesis finds support in favour of the McKinnon-Shaw hypothesis but also finds that the increases in the subsequent savings and investments have not been transmitted into economic growth in two of the studied countries. Moreover, the thesis also finds that stock market developments have negligible or negative impact on economic growth in two of the selected countries. The thesis concludes that in most cases, it is not financial liberalisation polices that affect economic growth in the selected ECOWAS countries, but rather increase in the productivity of labour, increase in the credit to the private sector, increase in foreign direct investments, increase in the capital stock and increase in government expenditure contrary to expectations. Interestingly, the thesis also finds that export has only negative effect on economic growth in all the selected ECOWAS countries. The thesis therefore, recommends that long-term export diversification programmes be implemented in the ECOWAS regions whilst further investigation is carried on the issue. en
dc.language.iso en en
dc.subject Sustainable economic growth en
dc.subject Financial liberalisation en
dc.subject Stock market developments en
dc.subject Interest rates liberalisation en
dc.subject Capital accounts liberalisation
dc.subject ARDL-Bounds testing approach
dc.subject ECOWAS
dc.subject Ghana
dc.subject Nigeria
dc.subject Ivory Coast and Co-integration
dc.subject.ddc 332.0966
dc.subject.lcsh Finance -- Developing countries
dc.subject.lcsh Moneyart policy -- Developing countries
dc.subject.lcsh Financial crises -- Developing countries
dc.subject.lcsh Developing countries -- Economic policy
dc.subject.lcsh Economic stablization -- Developing countries
dc.subject.lcsh Economic Community of West African States
dc.subject.lcsh Africa, West -- Economic conditions
dc.title Finacial liberalisation and sustainable economic growth in ECOWAS countries en
dc.type Thesis en
dc.description.department Economic Sciences D. Litt et Phil. (Economics)

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