Determinants of Financial Independence in Developing Countries (A Case Study of Kenya)

Dennis Muturi Muthara; Jane Ndirangu-Muiruri; William Kazungu Kingi

doi:doi:10.11648/j.ijefm.20150303.30

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Determinants of Financial Independence in Developing Countries (A Case Study of Kenya)

Dennis Muturi Muthara, Jane Ndirangu-Muiruri, William Kazungu Kingi

Published in International Journal of Economics, Finance and Management Sciences (Volume 3, Issue 3)

Received: 14 May 2015 Accepted: 29 May 2015 Published: 11 June 2015

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Abstract

The main objective of this study was to examine the determinants of financial independence in developing countries, with focus on Kenya. Two theories were looked into, the Dependency Theory and the Classical Dependency Theory. The research was based on fourteen departments in the Kenyan government. The three variables examined in this study include corruption, financial planning and balance of payment. The researcher measured to what extent each of the three variables affected financial dependency of a country. Secondary data from Transparency International, IMF reports, World Bank reports, Government reports by the auditor general, Vision 2030 reports, Kenya Economic Reports and other reports and journals was used. This data was analyzed using SPSS. This research established that there is a relationship between financial independence and financial planning as well as balance of payment. There was a positive correlation between financial planning and financial dependence and balance of payment and financial dependence. The researcher recommended that the government adopts better financial planning strategies such as reduction of recurrent expenditure and tightening the noose on revenue collection methods used as well as to improve on the amount of exports by expanding the range of products produced by the by the country for export.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 3, Issue 3)
DOI	10.11648/j.ijefm.20150303.30
Page(s)	325-329
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2015. Published by Science Publishing Group

Keywords

Gross Domestic Product, Multilateral Debts, Bilateral Debts, Debt Structure

References

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[6]	Craig, B. & Dollar, D. (2000). Aid, Policy and Growth. The American Economic View.
[7]	Fujita, M., Fabrice., H., Joachim, K. & Guoyong, L. (2009). Assessing the impact of the current financial and economic crisis on global FDI flows. UNCTAD.
[8]	Glossary. (2011). U4:Anti-Corruption Resource Centre. CHR.Michelsen Institute.
[9]	GOK. (2005). Millennium Development Goals status report. Nairobi: Government of Kenya.
[10]	GOK. (2013). Kenya Economic Report 2013. Nairobi: Kenya Institute for Public Policy Research and Analysis.
[11]	IMF. (2013). World Economic Outlook. IMF.
[12]	Jeffrey, D. (2002). millenium development goals report. UNDP.
[13]	John, J. (2008). "Government Debt and Deficits". indianapolis: encyclopedia of economics.
[14]	Khapoya, V. (2008). The African Experience. New york: Prentice Hall.
[15]	Kwabena, G. (. (2001). Corruption, economic growth and income inequality in Africa. Economics of governance, 183-207.
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[19]	Senior, I. (2006). Corruption-The World’s Big C. westminster: Institute of Economic Affairs.
[20]	Sloman, J. (2004). Economics. Penguin, 555-559.
[21]	T.I. (2013). Corruption Perception Index. T.I.

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APA Style

Dennis Muturi Muthara, Jane Ndirangu-Muiruri, William Kazungu Kingi. (2015). Determinants of Financial Independence in Developing Countries (A Case Study of Kenya). International Journal of Economics, Finance and Management Sciences, 3(3), 325-329. https://doi.org/10.11648/j.ijefm.20150303.30

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ACS Style

Dennis Muturi Muthara; Jane Ndirangu-Muiruri; William Kazungu Kingi. Determinants of Financial Independence in Developing Countries (A Case Study of Kenya). Int. J. Econ. Finance Manag. Sci. 2015, 3(3), 325-329. doi: 10.11648/j.ijefm.20150303.30

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AMA Style

Dennis Muturi Muthara, Jane Ndirangu-Muiruri, William Kazungu Kingi. Determinants of Financial Independence in Developing Countries (A Case Study of Kenya). Int J Econ Finance Manag Sci. 2015;3(3):325-329. doi: 10.11648/j.ijefm.20150303.30

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@article{10.11648/j.ijefm.20150303.30,
  author = {Dennis Muturi Muthara and Jane Ndirangu-Muiruri and William Kazungu Kingi},
  title = {Determinants of Financial Independence in Developing Countries (A Case Study of Kenya)},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {3},
  number = {3},
  pages = {325-329},
  doi = {10.11648/j.ijefm.20150303.30},
  url = {https://doi.org/10.11648/j.ijefm.20150303.30},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20150303.30},
  abstract = {The main objective of this study was to examine the determinants of financial independence in developing countries, with focus on Kenya. Two theories were looked into, the Dependency Theory and the Classical Dependency Theory. The research was based on fourteen departments in the Kenyan government. The three variables examined in this study include corruption, financial planning and balance of payment. The researcher measured to what extent each of the three variables affected financial dependency of a country. Secondary data from Transparency International, IMF reports, World Bank reports, Government reports by the auditor general, Vision 2030 reports, Kenya Economic Reports and other reports and journals was used. This data was analyzed using SPSS. This research established that there is a relationship between financial independence and financial planning as well as balance of payment. There was a positive correlation between financial planning and financial dependence and balance of payment and financial dependence. The researcher recommended that the government adopts better financial planning strategies such as reduction of recurrent expenditure and tightening the noose on revenue collection methods used as well as to improve on the amount of exports by expanding the range of products produced by the by the country for export.},
 year = {2015}
}

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TY  - JOUR
T1  - Determinants of Financial Independence in Developing Countries (A Case Study of Kenya)
AU  - Dennis Muturi Muthara
AU  - Jane Ndirangu-Muiruri
AU  - William Kazungu Kingi
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PY  - 2015
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DO  - 10.11648/j.ijefm.20150303.30
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JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
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AB  - The main objective of this study was to examine the determinants of financial independence in developing countries, with focus on Kenya. Two theories were looked into, the Dependency Theory and the Classical Dependency Theory. The research was based on fourteen departments in the Kenyan government. The three variables examined in this study include corruption, financial planning and balance of payment. The researcher measured to what extent each of the three variables affected financial dependency of a country. Secondary data from Transparency International, IMF reports, World Bank reports, Government reports by the auditor general, Vision 2030 reports, Kenya Economic Reports and other reports and journals was used. This data was analyzed using SPSS. This research established that there is a relationship between financial independence and financial planning as well as balance of payment. There was a positive correlation between financial planning and financial dependence and balance of payment and financial dependence. The researcher recommended that the government adopts better financial planning strategies such as reduction of recurrent expenditure and tightening the noose on revenue collection methods used as well as to improve on the amount of exports by expanding the range of products produced by the by the country for export.
VL  - 3
IS  - 3
ER  -

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Author Information

Dennis Muturi Muthara

School of Business of Technical, University of Mombasa, Mombasa, Kenya
Jane Ndirangu-Muiruri

School of Business of Karatina University, Karatina, Kenya
William Kazungu Kingi

School of Business of Technical, University of Mombasa, Mombasa, Kenya

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Plain Text BibTeX RIS

APA Style

Dennis Muturi Muthara, Jane Ndirangu-Muiruri, William Kazungu Kingi. (2015). Determinants of Financial Independence in Developing Countries (A Case Study of Kenya). International Journal of Economics, Finance and Management Sciences, 3(3), 325-329. https://doi.org/10.11648/j.ijefm.20150303.30

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ACS Style

Dennis Muturi Muthara; Jane Ndirangu-Muiruri; William Kazungu Kingi. Determinants of Financial Independence in Developing Countries (A Case Study of Kenya). Int. J. Econ. Finance Manag. Sci. 2015, 3(3), 325-329. doi: 10.11648/j.ijefm.20150303.30

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AMA Style

Dennis Muturi Muthara, Jane Ndirangu-Muiruri, William Kazungu Kingi. Determinants of Financial Independence in Developing Countries (A Case Study of Kenya). Int J Econ Finance Manag Sci. 2015;3(3):325-329. doi: 10.11648/j.ijefm.20150303.30

Copy | Download

@article{10.11648/j.ijefm.20150303.30,
  author = {Dennis Muturi Muthara and Jane Ndirangu-Muiruri and William Kazungu Kingi},
  title = {Determinants of Financial Independence in Developing Countries (A Case Study of Kenya)},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {3},
  number = {3},
  pages = {325-329},
  doi = {10.11648/j.ijefm.20150303.30},
  url = {https://doi.org/10.11648/j.ijefm.20150303.30},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20150303.30},
  abstract = {The main objective of this study was to examine the determinants of financial independence in developing countries, with focus on Kenya. Two theories were looked into, the Dependency Theory and the Classical Dependency Theory. The research was based on fourteen departments in the Kenyan government. The three variables examined in this study include corruption, financial planning and balance of payment. The researcher measured to what extent each of the three variables affected financial dependency of a country. Secondary data from Transparency International, IMF reports, World Bank reports, Government reports by the auditor general, Vision 2030 reports, Kenya Economic Reports and other reports and journals was used. This data was analyzed using SPSS. This research established that there is a relationship between financial independence and financial planning as well as balance of payment. There was a positive correlation between financial planning and financial dependence and balance of payment and financial dependence. The researcher recommended that the government adopts better financial planning strategies such as reduction of recurrent expenditure and tightening the noose on revenue collection methods used as well as to improve on the amount of exports by expanding the range of products produced by the by the country for export.},
 year = {2015}
}

Copy | Download

TY  - JOUR
T1  - Determinants of Financial Independence in Developing Countries (A Case Study of Kenya)
AU  - Dennis Muturi Muthara
AU  - Jane Ndirangu-Muiruri
AU  - William Kazungu Kingi
Y1  - 2015/06/11
PY  - 2015
N1  - https://doi.org/10.11648/j.ijefm.20150303.30
DO  - 10.11648/j.ijefm.20150303.30
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 325
EP  - 329
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20150303.30
AB  - The main objective of this study was to examine the determinants of financial independence in developing countries, with focus on Kenya. Two theories were looked into, the Dependency Theory and the Classical Dependency Theory. The research was based on fourteen departments in the Kenyan government. The three variables examined in this study include corruption, financial planning and balance of payment. The researcher measured to what extent each of the three variables affected financial dependency of a country. Secondary data from Transparency International, IMF reports, World Bank reports, Government reports by the auditor general, Vision 2030 reports, Kenya Economic Reports and other reports and journals was used. This data was analyzed using SPSS. This research established that there is a relationship between financial independence and financial planning as well as balance of payment. There was a positive correlation between financial planning and financial dependence and balance of payment and financial dependence. The researcher recommended that the government adopts better financial planning strategies such as reduction of recurrent expenditure and tightening the noose on revenue collection methods used as well as to improve on the amount of exports by expanding the range of products produced by the by the country for export.
VL  - 3
IS  - 3
ER  -

Copy | Download