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AUTHOR(S): Karekezi Jean Claude
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ABSTRACT The study investigated the effect of financial development on industrial output in Rwanda since 2011-2022 pertaining that the significance of financial development and its function in financial intermediation has been contentious and financial development has played a major part in the growth of industrial output over decades and has assumed a prominent place in the economy. The study adopted ex post facto design. Ordinary Least Squares (OLS) were also adopted. Findings revealed that financial liberalization, domestic credit to private sector, monetary policy rate, market capitalization and all share index jointly influenced positively industrial output (Adj.R2 = 80.76%, p = 0.006702 < 0.05, F-stat = 10.23831) in Rwanda. The study concluded that financial development positively affected industrial output in Rwanda during the period under review. It is recommended that the government of Rwanda should still improve on financial development as there is still room for improvement in order to attain greater industrial output. |
KEYWORDS All share index, domestic credit to private sector, financial liberalization, industrial output, market capitalization, monetary policy rate |
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Cite this paper Karekezi Jean Claude. (2026) Financial Development and Industrial Output in Rwanda. International Journal of Economics and Management Systems, 11, 31-41 |
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