Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya
This study aimed to analyse financial liberalisation, political stability, and economic determinants of Kenya s real economic growth using time series data over the period of 1970 2016. The authors specified quadratic and interactive models to be estimated by employing a quantile regression analysis...
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Online Access: | http://eprints.utm.my/id/eprint/91799/1/ZakariaYakubu2020_FinancialLiberalisationPoliticalStability.pdf http://eprints.utm.my/id/eprint/91799/ http://dx.doi.org/10.3390/en13133426 |
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my.utm.917992021-07-28T08:47:33Z http://eprints.utm.my/id/eprint/91799/ Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya Yakubu, Zakaria Loganathan, Nanthakumar Mursitama, Tirta Nugraha Mardani, Abbas Khan, Syed Abdul Rehman Hassan, Asan Ali Golam HB Economic Theory HF Commerce This study aimed to analyse financial liberalisation, political stability, and economic determinants of Kenya s real economic growth using time series data over the period of 1970 2016. The authors specified quadratic and interactive models to be estimated by employing a quantile regression analysis. The traditional and quantile unit root test was used in testing the stationarity issue. The co-integration findings indicated that the capital account openness and financial development impede on real economic growth; and the political stability also had potential influence on the real economic growth of Kenya. Interestingly, there is a nonlinear U-shape link between financial development and real economic growth that undermined the real economic growth at its onset, but as it advanced, it enhanced the growth of the country in the long run. The policymakers should ensure that the capital account is more liberalised so that it will continue to stimulate the financial development. In the same way, the liberalisation of the domestic financial market should be taken in earnest to overcome the negative effects of financial repression in totality, while maintaining the stable political atmosphere. MDPI 2020-07 Article PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/91799/1/ZakariaYakubu2020_FinancialLiberalisationPoliticalStability.pdf Yakubu, Zakaria and Loganathan, Nanthakumar and Mursitama, Tirta Nugraha and Mardani, Abbas and Khan, Syed Abdul Rehman and Hassan, Asan Ali Golam (2020) Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya. Energies, 13 (13). ISSN 1996-1073 http://dx.doi.org/10.3390/en13133426 DOI:10.3390/en13133426 |
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HB Economic Theory HF Commerce Yakubu, Zakaria Loganathan, Nanthakumar Mursitama, Tirta Nugraha Mardani, Abbas Khan, Syed Abdul Rehman Hassan, Asan Ali Golam Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya |
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This study aimed to analyse financial liberalisation, political stability, and economic determinants of Kenya s real economic growth using time series data over the period of 1970 2016. The authors specified quadratic and interactive models to be estimated by employing a quantile regression analysis. The traditional and quantile unit root test was used in testing the stationarity issue. The co-integration findings indicated that the capital account openness and financial development impede on real economic growth; and the political stability also had potential influence on the real economic growth of Kenya. Interestingly, there is a nonlinear U-shape link between financial development and real economic growth that undermined the real economic growth at its onset, but as it advanced, it enhanced the growth of the country in the long run. The policymakers should ensure that the capital account is more liberalised so that it will continue to stimulate the financial development. In the same way, the liberalisation of the domestic financial market should be taken in earnest to overcome the negative effects of financial repression in totality, while maintaining the stable political atmosphere. |
format |
Article |
author |
Yakubu, Zakaria Loganathan, Nanthakumar Mursitama, Tirta Nugraha Mardani, Abbas Khan, Syed Abdul Rehman Hassan, Asan Ali Golam |
author_facet |
Yakubu, Zakaria Loganathan, Nanthakumar Mursitama, Tirta Nugraha Mardani, Abbas Khan, Syed Abdul Rehman Hassan, Asan Ali Golam |
author_sort |
Yakubu, Zakaria |
title |
Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya |
title_short |
Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya |
title_full |
Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya |
title_fullStr |
Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya |
title_full_unstemmed |
Financial liberalisation, political stability, and economic determinants of real economic growth in Kenya |
title_sort |
financial liberalisation, political stability, and economic determinants of real economic growth in kenya |
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MDPI |
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2020 |
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http://eprints.utm.my/id/eprint/91799/1/ZakariaYakubu2020_FinancialLiberalisationPoliticalStability.pdf http://eprints.utm.my/id/eprint/91799/ http://dx.doi.org/10.3390/en13133426 |
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