https://cris.library.msu.ac.zw//handle/11408/183 Sun, 05 Apr 2026 22:44:34 GMT 2026-04-05T22:44:34Z https://cris.library.msu.ac.zw//handle/11408/6578 Title: Financial innovation and money demand: The case of Zimbabwe (2012:1 -2020:5) Authors: Mutumburanzou Radios Abstract: Money demand is critical in the conduct of monetary policy in any country such that the identification of the determinants of money demand is most valuable. The study was instigated to investigate the impact of financial innovation on money demand in Zimbabwe using monthly data from 2012:1 to 2020:5. The country witnessed increased adoption of mobile money transaction, which since the introduction of the product has been trending upwards. In addition to mobile money transactions, Zimbabwe saw a rise in the adoption and use of point-of-sale transactions (POS). The demand for money under increased usage of these new financial products and payment methods need to be assessed to find out how much these financial innovations affect money demand. This will ensure effective monetary policy. Using the Augmented Dickey Fuller test, the stationarity of the variables was established to be unit root at level and were stationary at first difference. The Johansen Cointegration test was employed to determine the order of integration and the number of cointegrating equation. Having established cointegration, the Vector Error Correction Model estimation technique was used to analyse the impact of financial innovation on money demand. Using monthly data from Reserve Bank of Zimbabwe, Zimbabwe Statistics Agency (Zimstat) and Confederation of Zimbabwe Industry (CZI). the study found that there is there is a negative relationship between money demand and mobile money transactions while it had a positive relationship with POS transactions in the long run. The short run results revealed that financial innovation had a negative relationship with money demand. https://cris.library.msu.ac.zw//handle/11408/6578 Mutumburanzou Radios https://cris.library.msu.ac.zw//handle/11408/3980 Title: Demystifying macro-financial linkages in Zimbabwe: a panel analysis of economic shocks and non-performing loans (2009-2017) Authors: Katuka, Blessing Abstract: This study investigated the determinants of non-performing loans as well as demystifying macrofinancial linkages in Zimbabwe using a panel of nine banks and semi-annually decomposed data from 2009 to 2017. A combination of panel regressions techniques and panel VAR analysis was employed to meet research objectives. Findings revealed that growth in non-performing loans is driven by both bank-specific and macroeconomic factors in Zimbabwe. Findings confirmed that the main drivers of nonperforming loans in Zimbabwe are loan-to-deposit ratio, equity-to-assets ratio, loans-to-assets ratio and capital inflows and one-period lagged non-performing loans ratio. Findings suggested positive association between the loans to assets ratio and non-performing loans and this supports the moral hazard hypothesis which stipulates that high loans to assets ratio results in the growth of NPLs. The study uncovered the presence of feedback effects from banking sector to the real economy and spill-over effects from real economy to the banking sector. Orthogonalized impulse response function results showed that non-performing respond positively in the short run and negatively in the long run to an innovation in lending rates, real GDP growth rate and capital inflows growth whereas response of non-performing loans to own shock is negative both in the short run and in the long run. Findings indicated that shock in lending rate initially results in a short-lived rise in real GDP growth rate and then a decline in real GDP growth rate in the later stage of the short run period and the decrease continues into the entire long run period. Undoubtedly, the researcher recommends authorities to maintain interest rate capping policy in order to ensure reduction in non-performing loans in the long run. Monitoring of lending rates through capping policy is also of paramount importance since the study uncovered that lending rates adversely affects real GDP growth rate and capital inflows in the long run. Furthermore, policy implications of this study would be that banks must strengthen the loan origination process so that high loan-to-assets do not necessarily translate to high non-performing loans. Wed, 01 Nov 2017 00:00:00 GMT https://cris.library.msu.ac.zw//handle/11408/3980 2017-11-01T00:00:00Z Katuka, Blessing https://cris.library.msu.ac.zw//handle/11408/3974 Title: Causal relationship between financial development and economic growth in Southern Africa: a static and dynamic panel data approach (2006-2015) Authors: Bandura, Witness Nyasha Abstract: The study seeks to investigate the causal linkage between financial development and economic growth of 14 Southern African countries over the period 2006-2015. The study utilises static and dynamic panel regression models with private sector credit ratio and broad money ratio as financial development indicators. Mixed findings are found in this study depending on the method used. There is, however, convincing evidence of causality running from financial development to economic growth which is in-line with supply-leading hypothesis by Patrick (1966). Varying result are obtained for demand-leading hypothesis from one model to another. Financial development through facilitating the allocation of credit to the most productive private sectors as well as effective managing of its monetary policies are recommended. Wed, 01 Nov 2017 00:00:00 GMT https://cris.library.msu.ac.zw//handle/11408/3974 2017-11-01T00:00:00Z Bandura, Witness Nyasha https://cris.library.msu.ac.zw//handle/11408/3936 Title: The impact of economic growth on environmental quality in Zimbabwe. 1985-2015 Authors: Mudzingwa, Grace Abstract: This research was mainly aimed at investigating the environmental impact of economic growth in Zimbabwe for the period 1985-2015. Various authors have expressed their views with regards to the determinants of environmental degradation with economic growth as the major player. CO2 was used as a proxy for environmental quality. Using the Ordinary Least Squares model, the researcher obtained that in the early stages of development, growth accelerates the rate of environmental quality loss up to a certain level of income which would then later on help in improving environmental quality. The researcher then recommends on improving economic growth in Zimbabwe as way to improve environmental quality in Zimbabwe since increasing the level of national income increases the willingness to pay for a cleaner environment. Sun, 01 Jan 2017 00:00:00 GMT https://cris.library.msu.ac.zw//handle/11408/3936 2017-01-01T00:00:00Z Mudzingwa, Grace