The power sectors in most African countries face an enduring problem of utility performance – electricity utilities have failed to deliver adequate, reliable and competitively priced electricity to support economic growth and improve the welfare of their populations. Despite more than two decades of power sector re-forms, outcomes have been varied and often disappointing. Using a case study de-sign, we explore the five key enduring power challenges. The research utilizes a more powerful analytical framework that combines power sector reform theory and principal-agent theoretical lens to explore the experience of power sector reforms in Kenya and provides a deeper understanding of drivers of utility performance and reform impacts. Empirical findings show that the structural, governance and regulatory reforms that previously created incentives for improved utility performance are increasingly threatened by political influence. Kenya Power’s financial viability has deteriorated in recent years and the regulator has been undermined. One of our major conclusions is that when the relationship between the principal (government) and agent (utility) is well understood and the agent is properly incentivized, performance improvements are possible. However, when the government undermines or muddies those incentives through conflicting political interventions, performance improvements can be reversed.

In this paper, we focus on the impact of financial liberalization on stability of emerging stock market. We identify crises in a group of Latin American (Argentina, Brazil and Chile) and Asian countries (Philippines, Korea, Taiwan and Thailand) during 1975–2005. This paper aims to apply the methodology of CMAX method. Our results indicate that liberalization triggers more unstable stock market in the short run and generate several crises. Still, liberalization seems to generate more stable financial markets in the long run. Financial liberalization does not increase the frequency of crises in emerging countries and at long-term, crises are less several.

This study examined the relationship between financial sector liberalization and agricultural sector output in Nigeria using annual data spanning the period 1986-2020. Specifically, the objectives of the study are to examine the relationship between lending rate, exchange rate, commercial bank credit to agriculture, inflation rate and agricultural sector output in Nigeria. Ex-post facto research design was employed and the annual time series data were collated from Central Bank of Nigeria (CBN) Statistical Bulletin. The econometrics methods of unit root, co-integration and error correction mechanism were used for the analyses. The outcome of the ADF unit root test show that the variables were stationary. Also the co-integration result showed that there exist co-integration amongst the variables in the model. The results from Error Correction Model indicates that lending rate and inflation rate have a negative relationship on agricultural sector output while exchange rate and commercial bank credit to agriculture have positive relationship on agricultural sector output. Based on these results, this study recommends that government and policy makers in Nigerian should initial policies that will boost investments in the agricultural sector through direct provision of credits to agriculturist and banks should also lend at a very low and subsidized interest rate to enable farmers’ access agricultural loans that will boost agricultural productivity in the economy.