Browsing by Author "Mohammed, J.I."
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Item Financial Inclusion in Sub-Saharan Africa: Recent Trends and Determinants(Routledge, 2018) Asuming, P.O.; Osei-Agyei, L.G.; Mohammed, J.I.This paper conducts a comparative analysis of financial inclusion in 31 Sub-Saharan African countries using data from the global Findex database. We find that while the aggregate level of financial inclusion has increased significantly between 2011 and 2014, there are variations in both the level and rates of improvement among the countries. We also find that individual-level covariates (age, education, gender and wealth), macroeconomic variables (growth rate of GDP and presence of financial institutions) and Business Freedom are significant predictors of financial inclusion. Our findings suggest that financial inclusion policies should target key populations like women and young people. © 2018 Informa UK Limited, trading as Taylor & FrancisItem Is political business cycle an enemy to human development? Empirical evidence from Africa(Journal Economic and Political Studies, 2019-01-10) Iddrisu, A.G.; Mohammed, J.I.Extant literature has argued that, with major extension of democracy since the 1990s, political business cycle has become more intense and has made African political systems more fragile. In light of this, this paper examines both the existence of African political business cycles and their impact on human development. It confirms the existence of political business cycles in Africa. Estimates of a panel fixed effects and system-GMM regression techniques for 38 African countries from 1990 to 2015 also suggest that such cycles worsen human development in African countries. This finding is consistent if we limit our analysis to various sub-regions of Africa, and also at two different income levels.Item Oil revenues and economic growth in oil-producing countries: The role of domestic financial markets(Resources Policy, 2020) Mohammed, J.I.; Karimu, A.; Fiador, V.O.; Abor, J.Y.The study estimates the effects of oil revenues on economic growth through financial markets development channel. Using a Panel VAR framework, we determine the proportional contribution of government oil revenue investment and private oil revenue investment among a sample of 83 oil-producing countries during the period, 1990–2015. Also, a two-step system GMM is used to estimate the effect of oil revenues on economic growth conditional on financial markets development. We find that government investment of oil revenues positively affects economic growth conditional on banking sector development but has no effect in the case of the stock market development except via turnover ratio. The findings further indicate that private investment of oil rev enues negatively impacts economic growth conditional on banking sector development. In the case of stock market development, in general, we find no effect. The policy recommendation is that oil-producing countries should pay more attention to share of the oil rent that goes to the government and the development of their banking sector since this can have a positive spill over effect on the development of the economy by government investment of oil revenue.Item Ownership structure of oil revenues: Political institutions and financial markets in oil-producing countries(Journal of Multinational Financial Management, 2022) Mohammed, J.I.; Fiador, V.O.; Karimu, A.; Abor, J.Y.This study examines the impact of the ownership structure of oil revenues on financial markets and institutions, and the intermediating role of political institutions. Using the fixed-effects model and GMM for robustness, we analyse data from 82 oil-producing countries. We found several key results. Firstly, government ownership of oil revenues undermines the efficiency of financial institutions when the quality of political institutions is weak but enhances their efficiency when political institutions are strong. Secondly, the impact of private ownership of oil revenues is negative on the depth of and access to financial institutions when the quality of political institutions is weak, but positive when political institutions are strong. We observe similar threshold effects for the depth of and access to financial markets in the subsample of developing countries. We conclude that oil-producing countries need solid political institutions to benefit from oil wealth and to boost financial development.