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Monetary policies and economic management: Evidence from Sub-Saharan Africa Nwosu, Kanayo Chike; Okafor, Ekwunife Gabriel; Egbunike, Chinedu F.
Journal of Governance and Accountability Studies Vol. 3 No. 2 (2023): July
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jgas.v3i2.1911

Abstract

Purpose: The objective of this paper is to empirically analyze the application of monetary policies for economic management in Sub-Saharan African countries. The study used time series data from two African countries, specifically Kenya and Rwanda to examine the effect of broad money on the Gross Domestic Product growth rate. Research methodology: The study relied on secondary data; obtained from the World Bank Development Indicators database. The study analyzed the data using both descriptive and inferential statistical techniques. The hypothesis was tested using the Ordinary Least Squares (OLS) technique. The data were checked for normality and subjected to Unit Root tests using the Dickey-Fuller, Augmented Dickey-Fuller and Phillips-Perron text prior to further analysis. Results: The results confirmed the stationarity of the data. The descriptive statistics showed that all variables were normally distributed. The OLS result showed that broad money growth had a positive statistically significant effect on the GDP growth rate of both countries. Limitations: The study focused on two sub-Saharan African countries. Contribution: This study explicates the fact that in order to have a robust financial system, which eventually results in sustainable economic development, solid monetary policies must be maintained. Practical Implication: The implication of this study is the identification of how responsible, long-term fiscal and budgetary stance encourages economic growth. Novelty: The study focuses on the application of monetary policies in the economic management of Sub-Saharan African countries; with a particular emphasis on Kenya and Rwanda. These two countries have recorded remarkable growth in Sub-Saharan Africa compared to other countries.
Strategic Agility: A prospect for sustainable performance of micro-businesses in South-Eastern Nigeria Monyei, Ezieshi Francis; Okeke, Patrick Anene; Nwosu, Kanayo Chike
Journal of Sustainable Tourism and Entrepreneurship Vol. 2 No. 4 (2021): June
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/joste.v2i3.799

Abstract

Purpose: To investigate the role strategic agility plays in the sustainable performance of micro-businesses, while specifically, it sort to examine the link between micro-businesses decision-making and technology adoption in South-eastern Nigeria Research methodology: A survey research method was adopted with a population quoted at 210 Micro-business registered owners in South-eastern Nigeria. The sample size of 136 was arrived at using Krejcie and Morgan's (1970) formula. A questionnaire set was designed for data collection and analyzed using the Linear Regression Statistics at a 5% level of significance. Results: Decision-making and technology adoption have a statistical significant relationship with Micro-businesses in South-eastern Nigeria (R2 = .959; F = 1180.390; p-value < 0.05). Limitations: The study did not cover all the five states in the region where the study was conducted. Contribution: The study excruciates strategic agility's role, its prospect for Micro-businesses, and its link with sustainable performance in a turbulent and dynamic business environment.
Monetary policies and economic management: Evidence from Sub-Saharan Africa Nwosu, Kanayo Chike; Okafor, Ekwunife Gabriel; Egbunike, Chinedu F.
Journal of Governance and Accountability Studies Vol. 3 No. 2 (2023): July
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jgas.v3i2.1911

Abstract

Purpose: The objective of this paper is to empirically analyze the application of monetary policies for economic management in Sub-Saharan African countries. The study used time series data from two African countries, specifically Kenya and Rwanda to examine the effect of broad money on the Gross Domestic Product growth rate. Research methodology: The study relied on secondary data; obtained from the World Bank Development Indicators database. The study analyzed the data using both descriptive and inferential statistical techniques. The hypothesis was tested using the Ordinary Least Squares (OLS) technique. The data were checked for normality and subjected to Unit Root tests using the Dickey-Fuller, Augmented Dickey-Fuller and Phillips-Perron text prior to further analysis. Results: The results confirmed the stationarity of the data. The descriptive statistics showed that all variables were normally distributed. The OLS result showed that broad money growth had a positive statistically significant effect on the GDP growth rate of both countries. Limitations: The study focused on two sub-Saharan African countries. Contribution: This study explicates the fact that in order to have a robust financial system, which eventually results in sustainable economic development, solid monetary policies must be maintained. Practical Implication: The implication of this study is the identification of how responsible, long-term fiscal and budgetary stance encourages economic growth. Novelty: The study focuses on the application of monetary policies in the economic management of Sub-Saharan African countries; with a particular emphasis on Kenya and Rwanda. These two countries have recorded remarkable growth in Sub-Saharan Africa compared to other countries.