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The Dynamics Between Financial Institutions and State-Owned Enterprises (SOEs) in Sierra Leone from 2000 to 2022

Author

Listed:
  • Hassan Swarray

    (School of Government, University of International Business and Economics (UIBE), Beijing, China.)

Abstract

The financial system in Sierra Leone is predominantly bank-based, with banks playing a significant role in the government securities market. State-Owned Enterprises (SOEs) are crucial for advancing development objectives in Sierra Leone. Successive governments have utilized ownership of enterprises to create value for the country; however, the performance of SOEs has often been suboptimal. This study examines the dynamic relationship between financial institutions and SOEs and their contribution to economic growth in Sierra Leone from 2000 to 2022. Data were sourced from the World Bank and the International Monetary Fund (IMF) open data repositories. A descriptive statistical analysis was conducted using both macro and micro data. The variables included dependent (growth), financial, macroeconomic, and government indicators from 2000 to 2022. Stata 18 software was employed to summarize statistics, calculate correlation coefficients, and perform multiple linear regression to determine the strength of the association between financial institutions and SOEs in Sierra Leone. The analysis revealed that Sierra Leone experienced high inflation from 2000 to 2022, adversely affecting financial institutions, which are the primary lenders to SOEs and small and medium-sized enterprises (SMEs). The relationship between financial institutions and SOEs in Sierra Leone exhibits both negative and positive aspects. Proper management of this relationship can contribute to the growth and stability of the financial system.

Suggested Citation

  • Hassan Swarray, 2024. "The Dynamics Between Financial Institutions and State-Owned Enterprises (SOEs) in Sierra Leone from 2000 to 2022," International Journal of Science and Business, IJSAB International, vol. 41(1), pages 128-142.
    • Handle: RePEc:aif:journl:v:41:y:2024:i:1:p:128-142
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    References listed on IDEAS

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    1. Omotunde E. G. Johnson, 2016. "Economic Diversification and Growth in Africa," Springer Books, Springer, number 978-3-319-30849-4, March.
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