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This study examines the nexus of bond market development and economic growth from 2015 to 2022.

The system-generalized method of moments (GMM) is employed on economic growth, government market capitalization, corporate market capitalization, bond yield, interest rate spread, trade openness and investment level.

The findings show that the government bond market, corporate bond capitalization and bond yield positively impact the gross domestic product (GDP). The results equally reveal a causal link between the corporate bond market, bond yield and GDP.

Governments should emphasize creating, developing and sustaining bond markets in the economies of developing countries to boost economic activity by promoting structural transformation. Policymakers should improve the implementation of existing rules and regulations while complementing them with new ones since well-developed bond markets provide alternative sources of financing that make economies financially resilient. Policymakers should encourage the issuance of corporate bonds to enhance the efficiency of the capital markets and mobilize funds for economic growth stimulation. Governments and corporations should diversify their sources of funding into the bond markets since the bond yields are favorable to economic growth.

Earlier studies presented arguable results on the bond market development and economic growth nexus. Several findings indicate a positive link; others give a negative link between bond market development and economic growth. Some show causal directions, while other reveal none. The contradictory results motivate research. This research results contribute to the literature in that the government bond market, corporate bond capitalization and bond yield positively impact the GDP of developing nations.

The purpose of this paper is to investigate the short and long run causal relationship between stock market development and economic growth in sub-Saharan Africa within the period 1990 and 2020.

Using panel data from 1990–2020 obtained from the World Bank development indicators, the study makes use of the autoregressive distributed lag model and the Granger causality and cointegration to analyze the long and short run causal relationship between stock market development and economic growth in sub-Saharan Africa.

The findings unveiled that stock market capitalization had a positive and significant effect on economic growth in the long run and a negative insignificant effect in the short run within the period of 1990–2020 while stock market liquidity measured through total value of shares traded and turnover ratio had a negative and significant effect on economic growth in sub-Saharan Africa within the period of 1990–2020. The Granger causality test showed an inconclusive result between stock market development and economic growth; implying that the authors cannot say if it is stock market development that causes economic growth or it is economic growth that causes stock market development within the period of 1990–2020.

The findings suggest that governments of sub-Saharan African countries should encourage stock market development by implementing favorable rules for companies listing on their stock market, promote stock market integration with world markets to diversify risk, increase public awareness on stock markets, increase investors' confidence level and finally, remove stock market impediments like high taxes, legal and regulatory barriers to its development.

This study contributes to the existing literature by offering a whole new perspective on stock market development and economic growth since its conception in sub-Saharan Africa. Again, contrary to other papers, the study show how stock market development can contribute to the growth of sub-Saharan Africans’ economy.

This research investigates the bond between stock market development and agricultural growth in African emerging economies from 1990 to 2020.

Agricultural value added to the gross domestic product measures agricultural growth and market capitalization and stock value traded measure stock market development.

The findings disclose that market capitalization negatively affects agricultural growth while stock value traded positively affects agricultural growth in the fully modified and dynamic ordinary least square techniques. The findings unveil bidirectional causality between labour and agricultural value added with unidirectional causality flow from agricultural value added to market capitalization and stock value traded.

The governments should promote agricultural growth initiatives which stimulate stock market development. Effective methods required to encourage credit flow to the agricultural enterprises through the stock markets' intermediation should be promoted using aggressive policies which eliminate credit flow bottlenecks. Policy makers and regulatory authorities should implement policies which attract investors to the agricultural sector and encourage companies' listing in the stock markets. The capital market funding should be expanded to boost economic growth through agricultural value added.

Literature reveals divergent results on the relationship between stock market development and agricultural growth. Earlier studies provide conflicting findings on the bond between stock market development and agricultural growth. Some findings indicate positive link between stock market development and agricultural growth, while others show a negative association. Studies' results reveal opposing directions of causality between stock market development and agricultural growth.

The purpose of this study is to identify and review strategic government policies on agricultural financing in Egypt, Morocco, Nigeria and South Africa. Four factors dictated the choice of these countries. In the first place, the study is set in African emerging markets – and the four countries are the widely acknowledged emerging markets in Africa (Onyiriuba, 2015). Secondly, the spread of the countries, to a large extent, mirrors Africa in general – Egypt and Morocco are in North Africa; Nigeria is a West African country; and, of course, South Africa. Thirdly, other countries in Africa tend to look up to the four countries, apparently as the largest economies in their respective regions. Needless to say, Nigeria alternates with South Africa as the largest economy in Africa. In this capacity, the two countries influence – indeed, mirror – continental Africa's emerging economic progress. Fourthly, lessons from agricultural policy and financing experiences of the four countries will certainly be useful to the other African countries. The specific objective of this paper is to determine how the government seeks to address the financing issues attendant on the risk-laden nature of agriculture through policy interventions. With this end in view, the paper analyses the strategic goals, objectives and beneficiaries of the agriculture financing policies of the government, as well as the constraints on access to finance by the farmers and the policy response.

The study involves a review of empirical literature and government policies on agricultural financing in Egypt, Morocco, Nigeria and South Africa. The high risks in agriculture (Onyiriuba, 2015; Mordi, 1988), risk aversion behaviour of banks towards agricultural financing (Onyiriuba, 2015, 1990), and the reluctance of insurers to take on agricultural risks (World Bank, 2018; Federal Republic of Nigeria, 2016; Onyiriuba, 1990; Mordi, 1988) underpin this methodology. There are two other considerations: the needs to find out how government seeks to address the financing issues in agriculture through policy intervention, and to avoid unwieldy research, one that combines government and institutional policy perspectives on agriculture financing. Thus the study is not approached from the perspective of banks and other lending institutions; neither does it combine government and institutional policy perspectives. It rather focuses on government policy in order to properly situate implications of the findings.

The authorities seek to get rid of bottlenecks, ease participation and redress constraints on access to finance in agriculture through policy interventions as a means of sustainable economic growth. The findings are characteristic of emerging markets, rooted in the transitional challenge of opening economies, economic reforms and the March of progress. However, with agriculture and natural resources – rather than industrialisation – as the main stay of their economies, the African emerging markets face an uphill task in their development efforts. This is evident in the divergent and gloomy pictures in which the literature paints their agricultural economies.

Government should gear financing policies to boost output as a means of ensuring food security. It should address risk aversion tendencies among the lenders and feeble credit guarantee, subsidies and budgetary allocations to agriculture. This will ensure effective commitment of the lenders to agriculture and underpin agricultural insurance. However, it demands strengthening links in the chain of access to, and monitoring of, credit for agricultural production. A realistic policy response should target the rural economy – with youth, women and smallholder farmers as ultimate beneficiaries. These actions should be intensified as measures to boost farming and the rural economy.

Current literature fails to situate the empirical findings in emerging markets context, reflecting economies in transition. Besides, in its current state, the literature does not explicitly clarify that agriculture, like most other sectors in such economies, is bound to experience the observed financing constraints. Neither does it clearly reflect how and why the findings should be seen as fleeting realities of the March of progress in transitional economies. This study will help to fill the gap.