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The Role of Banking Finance and Monetary Policy in Enhancing Human Development Index in Sudan (1999-2018)

Author

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  • Omer Allagabo Omer Mustafa

    (Sudan Academy for Banking and Financial Sciences/Assistant Professor of Economics, Banking and Finance - Program of Banking and Financial Studies, Secretary for Academic Affairs, B.O.BOX: 1880 Khartoum, Sudan.)

Abstract

Through a regression model, the study highlighted the role of the banking finance and monetary policy in enhancing human development index (HDI) in Sudan during the period (1999-2018). The descriptive analytical approach was used to achieve the objectives of the study. Secondary data were collected from; annual reports of the Central Bank of Sudan, World Bank and UNDP database. Inflation rates were used to indicates the efficiency of monetary policy. To ensure stationary of the variables used to estimate the model, Augmented Dickey-Fuller (ADF) and unit root tests were calculated. Results of ADF test show that, the set of variables are stationary at 1st difference. Ordinary least squares method was used to determine and conclude the direction of relations between the HDI and variables. The results found that there is a positive relationship between HDI and changes in provision of banking finance and inflation during the period of the study. Moreover, it s found that, monetary policy in term if inflation indirectly contributed to enhances HDI through money supply increase. The study recommends the commercial banks in Sudan to expand granting finance to the various economics activities especially the production sector. Furthermore, monetary authority should adopt contractionary monetary policy to reduce inflation and improve the standard of living.

Suggested Citation

  • Omer Allagabo Omer Mustafa, 2020. "The Role of Banking Finance and Monetary Policy in Enhancing Human Development Index in Sudan (1999-2018)," International Journal of Economics and Financial Issues, Econjournals, vol. 10(4), pages 64-68.
    • Handle: RePEc:eco:journ1:2020-04-9
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    References listed on IDEAS

    as
    1. Ravi Prakash & Pulkit Garg, 2019. "Comparative assessment of HDI with Composite Development Index (CDI)," Post-Print hal-02115225, HAL.
    2. repec:ssi:jouesi:v:1:y:2019:i:1:p:58-76 is not listed on IDEAS
    3. Ali, Khalifa Mohamed & Elzahi, Abdelrahman, 2016. "Zakah for Poverty Alleviation: Evidence from Sudan," Working Papers 2016-11, The Islamic Research and Teaching Institute (IRTI).
    4. Kabbashi M. Suliman, 2012. "The Determinants of Inflation in Sudan," Working Papers 243, African Economic Research Consortium, Research Department.
    5. Ravi Prakash & Pulkit Garg, 2019. "Comparative assessment of HDI with Composite Development Index (CDI)," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 1(1), pages 58-76, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Banking Finance; Monetary policy; Inflation; Human Development Index;
    All these keywords.

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies

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