Does financial inclusion and financial openness matter for capital market development? Evidence from a panel ARDL-PMG approach Available to Purchase

Noah Otinga is a Doctoral Fellow at Strathmore Business School, Strathmore University, Nairobi, Kenya. He holds a master’s degree (MCom-Finance) from Strathmore University, a Bachelor of Commerce degree from the same University and an ACCA Professional Level. He has lectured finance and accounting courses for approximately seven years and has a special interest in Financial Market Development, Financial Literacy, Financial Openness and Financial Inclusion.

Pat Obi is an Endowed Professor of Finance at PNW’s College of Business. He earned his PhD in Finance and Econometrics from the University of Mississippi and holds an MBA from Texas State University. With a rich academic background, Pat teaches courses in corporate finance, financial markets, derivatives and business analytics. He serves as a student mentor and works as a financial consultant for the City of Hammond. His research interests are multifaceted, focusing on the interplay between financial market variables and international tourism development. In addition, Pat’s research extends to financial risk management within the derivatives market.

Freshia Waweru is a senior lecturer at Strathmore University Business School teaching Derivatives Markets, Advanced Investment Analysis and Portfolio Management, Managerial Finance, Corporate Finance and International Finance, among other courses. She is also a Certified Public Accountant of Kenya (CPA-K) and a member of the Institute of Public Accountants of Kenya (ICPAK). Freshia holds a PhD in International Finance (Derivatives Markets) from Sogang University in Seoul (South Korea) and a master’s degree in business administration (MBA) from Kenyatta University.