ビジネス＆財務ジャーナル

In African Emerging Economies, Nonlinear Dynamics of the Financial-growth Nexus: The Case of a Macroprudential Policy Regime

Abstract

Caelum Ember

This article investigates the intricate and nonlinear dynamics characterizing the relationship between finance and economic growth in African emerging economies, with a particular focus on the implementation of a macroprudential policy regime. As these economies strive for sustainable development, the role of the financial sector becomes increasingly critical. However, the conventional linear view of the finance-growth nexus may not capture the nuanced interactions present in these dynamic economies. By exploring the impact of macroprudential policies, this study aims to provide insights into the nonlinear nature of the financial-growth relationship in the African context, offering implications for policy formulation and implementation.