Accesso libero

Financial Development and Private Sector Investment in the Post-Financial Liberalization Era in Tanzania

INFORMAZIONI SU QUESTO ARTICOLO

Cita

Asante, Y. (2000, March). Determinants of private investment behaviour in Ghana. Research Paper 100, The African Economic Research Consortium, Nairobi-Kenya. Search in Google Scholar

Akinsola, A. F., & Odhiambo, N. M. (2017). The impact of financial liberalization on economic growth in sub-Saharan Africa. Cogent Economics & Finance, 5(1) 1338851 https://doi.org/10.1080/23322039.2017.133885110.1080/23322039.2017.1338851 Search in Google Scholar

Arestis, P., Demetriades, P. O. & Luintel, K. (2001). Financial development and economic growth: the role of stock markets. Journal of Money, Credit, and Banking, 33(1), 16–41. https://doi.org/10.2307/267387010.2307/2673870 Search in Google Scholar

Ayyagari, M., Demirguc-Kunt, A., & Maksimovic, V. (2006). How important are financing constraints?: the role of finance in the business environment. World Bank Publications (Vol. 3820). Search in Google Scholar

Atiyas, I. (1992). Financial reform and investment behaviour in Korea: evidence from panel data. World Bank Mimeo. Search in Google Scholar

Bascom, W. O. (1994). The economics of financial reform in developing countries (1st ed.). Palgrave Macmillan UK . https://doi.org/10.1007/978-1-349-23372-410.1007/978-1-349-23372-4 Search in Google Scholar

Bank of Tanzania (2011). Bank of Tanzania Report. Search in Google Scholar

Bara, A., Mugano, G. & Le Roux, P. (2016). Financial reforms and the Finance - Growth relationship in the Southern African development community (SADC). Economic Research Southern Africa (ERSA), Working Paper, 615. https://www.econrsa.org/system/files/publications/working_papers/working_paper_615.pdf Search in Google Scholar

Benhabib, J., & Spiegel, M. M. (1994). The role of human capital in economic development evidence from aggregate cross-country data. Journal of Monetary Economics, 34(2), 143-173.10.1016/0304-3932(94)90047-7 Search in Google Scholar

Beck, T., Demirguc-Kunt, A., & Maksimovic, V. (2008). Financial patterns around the world: Are small firms different?. Journal of Economics, 89(3), 467-487. https://doi.org/10.1016/j.jfineco.2007.10.00510.1016/j.jfineco.2007.10.005 Search in Google Scholar

Beck, T., & Levine, R. (2002). Industry growth and capital allocation: does having a market- or bank-based system matter?. Journal of Financial Economics, 64(2), 147–180. https://doi.org/10.1016/S0304-405X(02)00074-010.1016/S0304-405X(02)00074-0 Search in Google Scholar

Beck, T., Levine, R., & Loayza, N. (2000). Financial Intermediation and Growth: Causality and Causes. Journal of Monetary Economics 46, 31-77.10.1016/S0304-3932(00)00017-9 Search in Google Scholar

Bekaert, G., Harvey C. R., & Lundbald, C. (2005). Does financial liberalization spur growth? Journal of Financial Economics, 77(1), 3-55. https://doi.org/10.1016/j.jfineco.2004.05.00710.1016/j.jfineco.2004.05.007 Search in Google Scholar

Boyd, J. H., & De Nicolo, G. (2005). The theory of bank risk taking and competition revisited. Journal of Finance, 60(3), 1329-1343. https://www.fdic.gov/analysis/cfr/bank-research-conference/annual-4th/2004-20-boyd.pdf10.1111/j.1540-6261.2005.00763.x Search in Google Scholar

Caldera-Sanchez, A., de Serre, A., Gori, F., Hermansen, M., & Röhn, O. (2016), Strengthening economic resilience: insights from the post-1970 record of severe recessions and financial crises. OECD Economic Policy Paper, 20. https://doi.org/10.1787/2226583X10.1787/2226583X Search in Google Scholar

Davis, J.S., Mack, A., Phoa, W., & Vandenabeel, A. (2014). Credit booms, banking crises, and the current account. Federal Reserve Bank of Dallas Globalization and Monetary Policy Institute, Working Paper, 178. https://www.dallasfed.org/-/media/Documents/institute/wpapers/2014/0178.pdf10.24149/gwp178 Search in Google Scholar

De Gregorio, J., & Guidotti, P. E. (1995). Financial development and economic growth. World Development, 23(3), 433-448.10.1016/0305-750X(94)00132-I Search in Google Scholar

Demirguc-Kunt, A., & Detragiache, E. (1998). Financial liberalization and financial fragility. IMF Working Paper, WP/98/83. https://www.imf.org/external/pubs/ft/wp/wp9883.pdf10.2139/ssrn.882587 Search in Google Scholar

Diaz-Alejandro, C. (1985). Good-bye financial repression, hello financial crash. Journal of Development Studies, 19(1-2), 1-24. https://doi.org/10.1016/0304-3878(85)90036-710.1016/0304-3878(85)90036-7 Search in Google Scholar

Enwobi, B., Mlambo, K., & Ansongu, S. (2018). Linkages between financial development, financial instability, financial liberalization and economic growth in Africa. Research in International Business and Finance, 45, 168-179. https://doi.org/10.1016/j.ribaf.2017.07.14810.1016/j.ribaf.2017.07.148 Search in Google Scholar

Gallego, F., & Loayza, N. (2000). Financial structure in Chile: macroeconomic developments and microeconomic effects. Central Bank of Chile Working Paper, 7. https://core.ac.uk/download/pdf/6642589.pdf Search in Google Scholar

Galindo, A., Schiantarelli, F., & Weiss, A. (2007). Does financial liberalization improve the allocation of investment?: Micro evidence from developing countries. Journal of Development Economics, 83(2), 562-587. https://doi.org/10.1016/j.jdeveco.2005.09.00810.1016/j.jdeveco.2005.09.008 Search in Google Scholar

Gertler, M., & Rose, A. (1994). Finance, public policy, and growth. In G. Caprio, J. Atiyas & J. A. Hanson (Eds.), Financial reform: Theory and experience (1st ed., pp. 13-48). Cambridge University Press. Search in Google Scholar

Gelos, R. G., & Werner, A. M. (2002). Financial liberalization, credit constraints, and collateral: investment in the Mexican manufacturing sector. Journal of Developments Economics, 67(1), 1-27. https://doi.org/10.1016/S0304-3878(01)00175-410.1016/S0304-3878(01)00175-4 Search in Google Scholar

Ghirmay, T. (2006). Financial Development, Investment, Productivity and Economic Growthin the US. Southwestern Economic Review, 33(1), pp.23-36. Search in Google Scholar

Grechyna, D., & Ductor, L. (2015). Financial development, real sector, and economic growth. International Review of Economics & Finance, 37(C), 393-405. Search in Google Scholar

Haramillo, F., Schiantarelli, F., & Weiss, A. (1996). Capital market imperfections before and after financial liberalization: An Euler equation approach to panel data for Ecuadorian firms. Journal of Development Economics, 51(2), 367-386. https://doi.org/10.1016/S0304-3878(96)00420-810.1016/S0304-3878(96)00420-8 Search in Google Scholar

Harris, J. R., Schiantarelli, F., & Siregar, M. G. (1994). The effect of financial liberalization on the capital structure and investment decisions of Indonesian manufacturing establishments. World Bank Economic Review, 8(1), 17-47. https://doi.org/10.1093/wber/8.1.1710.1093/wber/8.1.17 Search in Google Scholar

Ito, H., & Kawai, M. (2018). Quantity and quality measures of financial development, implications for macroeconomic performance. Policy Research Institute, Ministry of Finance, Japan, Public Policy Review, 14(5), 803-834. https://www.mof.go.jp/english/pri/publication/pp_review/ppr14_05_01.pdf Search in Google Scholar

Johnston, R. B., & Sundarajan, V. (1999). Sequencing financial sector reforms: Country experiences and issues. International Monetary Fund. https://www.amazon.com/Sequencing-Financial-Sector-Reforms-Experiences/dp/1557757798 Search in Google Scholar

Kessy, S. (2010). The impact of microfinance institutions on micro and small enterprises growth in developing countries, unpublished Ph.D. Thesis, University of Dar es Salaam. Search in Google Scholar

Keynes, J. M. (1936). The general theory of employment, interest, and money (1st ed.). Palgrave Macmillan. https://doi.org/10.1007/978-3-319-70344-210.1007/978-3-319-70344-2 Search in Google Scholar

Levine, R. (1997). Financial Development and Economic Growth: Views and Agenda. Journal of Economic Literature, 35, 688-726. Search in Google Scholar

Le Roux, P., & Moyo, C. (2015). Financial liberalization and economic growth in the SADC. Economic Research Southern Africa (ERSA) Working Paper. 516. https://www.econrsa.org/node/1061 Search in Google Scholar

Love, I. (2003). Financial development and financing constraints: international evidence from the structural investment model. Review of Financial Studies, 16(3), 765-791. https://doi.org/10.1093/rfs/hhg01310.1093/rfs/hhg013 Search in Google Scholar

Lwesya, F. (2021). SMEs’ competitiveness and international trade in the era of Global Value Chains (GVCs) in Tanzania: An assessment and future challenges. Small Business International Review, 5(1), e325. https://doi.org/10.26784/sbir.v5i1.32510.26784/sbir.v5i1.325 Search in Google Scholar

Marc, S. C. (2018). Impact of financial liberalisation on the financial development of eight countries member of SADC. Journal of Global Economics, 6(2). https://doi.org/10.4172/2375-4389.100028710.4172/2375-4389.1000287 Search in Google Scholar

McKinnon, R. I. (1973). Money and Capital in Economic Development. The Brookings Institute. https://www.brookings.edu/book/money-and-capital-in-economic-development Search in Google Scholar

Michael, I. M., & Aikaeli, J. (2014). Determinants of private investment in Tanzania. African Journal of Economic Review, 2(2), 39-52. https://www.ajol.info/index.php/ajer/article/view/116282 Search in Google Scholar

Misati, R. N., & Nyamongo, E. M. (2011). Financial liberalisation, financial fragility and economic growth in Sub-Saharan Africa. Journal of Financial Stability, 8(3), 150-160. https://doi.org/10.1016/j.jfs.2011.02.00110.1016/j.jfs.2011.02.001 Search in Google Scholar

Moyo, C., & Le Roux, P (2020). Financial liberalization, financial development and financial crises in SADC countries. Journal of Financial Economic Policy, 12(4), 477-494. https://doi.org/10.1108/JFEP-07-2018-010210.1108/JFEP-07-2018-0102 Search in Google Scholar

Mullineux, A., & Murinde, V. (2014). Financial sector policies for enterprise development in Africa. Review of Development Finance, 4(2), 66–72. https://doi.org/10.1016/j.rdf.2014.05.00110.1016/j.rdf.2014.05.001 Search in Google Scholar

Napier, M. (2011). Including Africa - beyond microfinance. Centre for the Study of Financial Innovation. https://www.findevgateway.org/paper/2011/02/including-africa-beyond-microfinance Search in Google Scholar

Naceur, S., Blotevogel, R., Fischer, M., & Shi, H. (2017). Financial Development and Source of Growth: New Evidence. IMF Working Papers No. 17/143.10.5089/9781484302637.001 Search in Google Scholar

O’Toole, C. M. (2012). Does financial liberalization improve access to investment finance in developing countries?. WIDER Working Paper No. 2012/67. https://doi.org/10.1515/jgd-2013-002810.1515/jgd-2013-0028 Search in Google Scholar

Odhiambo, N. M. (2011). The impact of financial liberalisation in developing countries: Experiences from four SADC countries. Organisation for Social Science Research in Eastern Africa. Search in Google Scholar

Phakedi, M. (2014). Financial sector development and economic growth in SADC. A research paper to be submitted to the Committee of Central Bank Governors in SADC, South African Reserve Bank. www.sadcbankers.org Search in Google Scholar

Pesaran, M. H., Y. Shin, & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289-326.10.1002/jae.616 Search in Google Scholar

Randhawa, B., & Gallardo, J. (2003). Micro finance regulation in Tanzania: implications for development and performance of the industry. The World Bank, 26656, 1-48. https://documents1.worldbank.org/curated/en/521691468782105272/pdf/266560AFR0wp51.pdf Search in Google Scholar

Svirydzenka, K. (2006). Introducing a new broad-based index of financial development. International Monetary Fund Working Paper, 16/5. https://www.imf.org/en/Publications/WP/Issues/2016/12/31/Introducing-a-New-Broad-based-Index-of-Financial-Development-43621 Search in Google Scholar

Suhendra, I., & Anwar, C. J. (2017). Determinants of private investment and the effects on economic growth in Indonesia. GSTF Journal on Business Review, 3(3), 127-130. Search in Google Scholar

Shaw, E. (1973). Financial deepening in economic growth. Oxford University Press. https://doi.org/10.2307/297842110.2307/2978421 Search in Google Scholar

Tillmar, M. (2016). The lack of business dispute resolution in East Africa: an unresolved impediment to SME development? In L. Achtenhagen & E. Brundin (eds.), Entrepreneurship and SME Management Across Africa (pp. 51-64). Springer. https://doi.org/10.1007/978-981-10-1727-8_410.1007/978-981-10-1727-8_4 Search in Google Scholar

United Republic of Tanzania – URT (2000). National microfinance policy, Ministry of Finance, Dar es Salaam. http://extwprlegs1.fao.org/docs/pdf/tan169574.pdf Search in Google Scholar

United Republic of Tanzania Parliament - URT (2006). Banking and Financial Institutions Act. http://parliament.go.tz/polis/uploads/bills/acts/1452172600-ActNo-5-2006.pdf Search in Google Scholar

United Republic of Tanzania - URT, (1991). Banking and Financial Institutions Act. https://www.parliament.go.tz/polis/uploads/bills/acts/1566552571-The%20Banking%20and%20Financial%20Institution%20Act,%201991.pdf Search in Google Scholar

Wondemu, K., & Potts, D. (2016). The Impact of the real exchange rate changes on export performance in Tanzania and Ethiopia. African Development Bank Working Paper Series, 241. https://doi.org/10.13140/RG.2.2.29102.10560 Search in Google Scholar

eISSN:
2392-8042
Lingua:
Inglese