The paper examines the association between health expenditure, carbon emission, economic growth, natural resources, and population in developing countries for 2000–2018. It further explores the relationship between these variables over the same period. The study applied Pooled mean group (PMG) and Dynamic ordinary least square (DOLS) estimations to explore the long and short-term impact of environmental pollution, economic growth, and natural resources on health expenditure. PMG and the DOLS results show that economic growth and environmental pollution, and natural resources increase health expenditure at the panel level. However, improved sanitation reduces health spending. The findings for the individual country level from the FMOLS confirmed similar results for some countries. Furthermore, there is bidirectional causality between health spending and economic growth. Developing nations should implement strategic environment management policies that enhanced clean and healthy air to decrease the pressure on health care expenses.

The study considered the relationship between the interaction of financial development with all six distinct governance indicators from the world development indicators, as well as a combination of them, and inclusive growth in 48 African economies from 2000 to 2019. The countries were classified into low-income countries and middle-income countries. The models were then estimated with Panel Quantile Regression with Fixed Effects estimations, and Dumitrescu & Hurlin causality tests after going through robust econometric tests. From the outcome, the interaction of financial development with corruption control is essential for inclusive growth in only middle-income countries. The interaction of financial development with political stability and the absence of violence/terrorism, and the interaction of financial development and governance in general are relevant to inclusive growth in Africa as a whole and middle-income countries. However, the interaction of financial development with voice and accountability, and the interaction of financial development with rule of law are relevant to inclusive growth in all country groupings. JEL: G20; F62; R50

This study investigates how inclusive growth is affected by carbon emission, renewable energy, and the new financial development index using 48 African countries categorized into low-income countries (LIC) and middle-income countries (MIC) spanning from 2000 to 2018. Bearing in mind the presence of residual cross-sectional reliance and heterogeneity in a panel data settings, the study employed robust estimations econometric approaches which includes the Augmented Mean group (AMG), Driscoll-Kraay (DK) standard errors method together with the Correlated Effects Mean Group (CCEMG) technique. The study’s outcomes from the mentioned approaches showed that; carbon emission positively affects inclusive growth in aggregate African panel, and LIC but not in MIC panels correspondingly. Furthermore, renewable energy significantly mitigates inclusive growth in LIC group African nations, but not significant in Africa as a whole or in MIC country grouping. Financial development is homogeneously positive and significant, with inclusive growth across all panels of African economies. The outlined outcomes were also confirmed by the Generalized Method of Moments (System-GMM). Based on the outlined study preferably suggest that carbon emission in LIC must be focused on attracting investments with low carbon footprints. On renewable energy, it is further recommended that both LIC and MIC should sticks to the African Renewable Energy Initiative.

The paper scrutinized the correlation between financial development interaction with institutional quality and economic growth in Africa. The study adopted 30 different interactions. The study used the Augmented mean group estimation technique to estimate the model. Gross domestic savings/GDP and broad money/GDP positively influenced growth with the majority of interactions with institutional quality indicators. Credit to Private Sector/GDP interaction with Voice & Accountability; and Political Stability has a higher impact on growth than any interaction variable. However, government effectiveness, regulatory quality, and corruption control are weak in Africa; even if interacted with financial development indicators, it mostly reduces economic growth. This study recommends that governments in Africa strengthen financial development indicators; Bank Deposit/GDP, Gross Domestic Savings/GDP and Credit to private sector/GDP, and institutional quality indicator political stability & absence of violence since their interaction has proven to aid rapid economic growth.JEL Classification: E17, F62, F63How to Cite:Nketia, E. B., & Kong, Y. (2021). Decipheting African Financial Development Interaction with Institutional Quality and Economic Growth Nexus. Etikonomi: Jurnal Ekonomi, 20(1), 23 – 44. https://doi.org/10.15408/etk.v20i1.16177.

The Ghanaian student loan has been touted as an innovative policy to enhance human development yet the policy is contending with inherent inefficiencies. With the general objective of this study, to critically analyze the success and sustainability of the SLTF loan in Ghana through the repayment and recovery rate using the relative efficiency index (REI=Repayment Ratio / Recovery Ratio) as compare to other Africa countries. This research analyzed the repayment mechanism used in the Ghanaian SLTF and the other countries under study, focusing on a payment schedule, time-frame and the interest rate applied. From the research, although the repayment ratio is high mean, the value of loan amount is also high this suggests that there are gaps to be filled in terms of repayment. Loan repayment is also affected by the interest rate and the salary as shown in the data. The researcher recommends that the loan amount should be reviewed upwards while the repayment period of the student loan remains 10years. With trending issues based on others literature on student loans, the researcher can predict that the loan efficiency would be positive if a high percentage of the loans are paid by student borrowers within the repayment period.