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Publications (15)
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– The case of Ghana
One essential condition of economic progress in any society is an ample supply of savings, which depends on the growth of real capital.Economists agree that higher investment rates will lead to higher growth. Thus, domestic savings is considered an important determinant of growth in developing...
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– Unity in diversity
This paper examines the national savings behaviour in the process of economic growth through a comparative analysis of countries in developing Asia from a historical perspective. Developing Asia provides an ideal laboratory for the study with considerable differences in the savings behaviour among...
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– Empirical evidence
This paper examines trends and determinants of gross domestic savings in Tanzania using data for the period 1990–2020. The autoregressive distributed lag approach is employed to empirically analyse the short-run and long-run relationships. There has been a fairly stable increase in the domestic...
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– Do sovereign wealth funds serve development?
Do sovereign wealth funds (SWFs) contribute to Africa’s development? This paper assesses the objectives of SWFs (fiscal stabilization, productive investment, intergenerational saving) and discusses alternatives. We argue that fiscal stabilization funds are often necessary, but entail considerable...
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The savings–growth nexus is widely acknowledged, both in policy and in the literature. But Kenya’s numerous policy initiatives to encourage savings mobilization are yet to yield the expected outcomes. This paper identifies the key drivers of domestic saving in Kenya, exploiting fintech as an...
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Capital markets facilitate capital growth by mobilizing savings and converting them into investments, and they are therefore a stimulant of economic growth. There is evidence that countries with high savings rates tend to grow faster. Although most sub-Saharan Africa countries recognize the...
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This paper traces the development of fintech in sub-Saharan Africa, its evolution over time, and the unfolding benefits attained at each stage of its adoption and market evolution. From the onset, fintechs have revolutionized retail electronic payment systems—a revolution that has evolved into a...
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The population structure the world over is going through a demographic shift, and the elderly proportion is projected to increase with population growth. This change is a matter of concern for sub-Saharan African (SSA) countries, where the majority of the people are young and the rates of both...
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This paper employs data from 103 developing countries between 1981 and 2012 to examine the determinants of private savings in sub-Saharan Africa (SSA), with a focus on the effect of financial liberalization on private savings. It also analyses why the savings rate for SSA countries is lower than for...
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– Disentangling the roles of trend and cycle
Resource mobilization continues to be an important policy challenge for developing economies, raising questions as to what determines differences in saving behaviour across countries. Using a panel of 47 economies with at least 40 years of continuous time series data, we causally identify, using a...
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Nigeria is governed by a federal system, hence its fiscal operations also adhere to the same principle, a fact which has serious implications on how the tax system is managed. The country’s tax system is lopsided, and dominated by oil revenue. It is also characterized by unnecessarily complex...
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– Case Study of Cameroon
In the beginning of the 1980s, Cameroon witnessed a sustained rate of growth, associated essentially with the boom in the oil sector. Increased budgetary and extra-budgetary resources generated by this sector helped to raise the investment rate in the economy, and to maintain a reasonable level of...
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In evaluating tax reform in the developing countries, one first needs to determine what is the unique role of the tax system in each particular country. One of the key reasons for undertaking tax reforms in Kenya was to address issues of inequality and to create a sustainable tax system that could...
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Ghana’s tax reforms constitute the major policy instrument needed to accelerate growth and poverty reduction. Over the past two decades, the government has consistently spent more revenue than it is able to generate and the gap is often financed with foreign aid which has perpetuated the country’s...
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In 1991 the Ethiopian Revolution Democratic Front (EPRDF) toppled the old ‘socialist’ regime that had ruled the country for seventeen years. In contrast to the previous policy regime of hard control, EPRDF initiated a wide range of reforms that covered not only the tax system but also the exchange...
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