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This paper provides evidence that the banking sector reforms of 2004 and 2009 enhanced prudential performance of the banking industry and financial system stability in Nigeria.

This study uses regression analysis with regime shift to confirm results from tests of two means and variances model to examine the effectiveness of banking sector reforms in Nigeria.

Evidence from the regression model agrees with findings from the test of means model (not controlling for trend effects) that capital to assets ratio rose while non-performing loan ratio declined after the reforms, and that capital to earning assets ratio rose when trend effects were accounted for. Both the regression model and the tests of means model controlling for trend effects show that return on asset, return on equity and return on earning assets ratios declined after the reforms.

This paper evaluated the effectiveness of banking sector reforms in Nigeria using models that avoid weaknesses that besieged many previous studies. It however used data covering 1983–2020 period, due to data availability. A larger scope of data may improve the results, and future research may re-examine this theme as more data become available. Furthermore, banking stability issues could be examined using specialised techniques such as the generalised autoregressive conditional heteroscedasticity model and related family.

These results suggest that the reforms led to improvement in the sector’s resilience (risks-absorbing capacity) and asset quality, and that profitability had not been the primary focus of the reforms.

The authors recommend that regulatory and supervisory authorities in Nigeria continue to implement and improve on banking sector reforms for a more resilient and functional banking system. As a contribution to social research, this study shows that studies on policy evaluation should be located within appropriate theoretical framework: the theory of change. It shows that an appropriate use of attribution analysis and contribution analysis within this theoretical framework engenders robust analysis and results. Otherwise, the analytical findings would be erroneous and policy advice misguided.

The statistical significance of our findings establishes that the banking sector reforms in Nigeria have been effective in promoting financial system stability in Nigeria. By deploying both the test of means with and without trend effects (an attribution analysis) and the multivariate regression analysis with regulatory shift (a contribution analysis), and relying more on the later for its superiority, this study contributes to the body of knowledge in that, it not only determined the true effects of banking sector reforms in Nigeria for appropriate policy guidance but also demonstrated that, in research, an inappropriate methodology produces results that may diverge from the more accurate ones that were derived from the correct methodology.

The purpose of this study is to discuss the most relevant literature related to the adoption of International Public Sector Accounting Standards (IPSAS) in the public sector in developed and developing countries, identifying the constraints and stimuli they represent in the implementation of the public accounting reform. It also presents future research proposals on the factors identified.

The methodology is based on a systematic review of the literature described by Moher et al. (2009). The final sample includes 90 academic papers published from 2000 to 2022.

The main findings indicate that there are differences between constraints and stimuli in the implementation of accounting standards between developed and developing countries. In terms of constraints, the main factor in developed countries is the lack of training, whereas in developing countries it is the limitation on financial resources. In addition, the results demonstrate that in developed countries the factors that most encourage the implementation of accounting standards are modernization and improvement of accounting, while in developing countries, encouragement comes mainly from external and internal pressure.

This study helps countries and institutions to learn from experience and better prepare for the accounting reforms of public administration that they will undertake. Managers of public organizations may be willing to make decisions in the adoption of IPSAS if they take into account the factors established herein.

This study helps countries and institutions to learn from the experience, better prepare for the public administration accounting reforms that they will undertake and add greater transparency in the accountability of public accounts to citizens.

In addition to previous studies, this study addresses a number of factors perceived by those involved in the implementation of IPSAS in developed and developing countries and provides a robust research agenda to pursue during the coming years, as there are several important unexplored questions that invite further research.

The World Bank-sponsored public financial management reforms attempt to instil fiscal discipline through techno-managerial packages. Taking Ghana's integrated financial management information system (IFMIS) as a case, this paper explores how and why local actors engaged in counter-conduct against these reforms.

Interviews, observations and documentary analyses on the operationalisation of IFMIS constitute this paper's empirical basis. Theoretically, the paper draws on Foucauldian notions of governmentality and counter-conduct.

Empirics demonstrate how and why politicians and bureaucrats enacted ways of escaping, evading and subverting IFMIS's disciplinary regime. Politicians found the new accounting regime too constraining to their electoral and patronage politics and, therefore, enacted counter-conduct around the notion of political exigencies, creating expansionary fiscal conditions which the World Bank tried to mitigate through IFMIS. Perceiving the new regime as subverting their bureaucratic identity and influence, bureaucrats counter-conducted reforms through questioning, critiquing and rhetorical venting. Notably, the patronage politics of appropriating wealth and power underpins both these political and bureaucratic counter-conducts.

This study contributes to the critical accounting understanding of global public financial management reform failures by offering new empirical and theoretical insights as to how and why politicians and bureaucrats who are supposed to own and implement them nullify the global governmentality intentions of fiscal disciplining through subdued forms of resistance.

This paper acknowledges the rising levels of non-performing loans (NPLs) and the consequences associated with such patterns to an emerging economy like Ghana. In theory, one would expect rising NPLs to have a negative impact on an economy, especially regarding credit creation and private sector growth. This research, consistent with empirical literature, constructs a measure of financial market development to investigate its effect on Ghana's NPLs.

The fully modified ordinary least squares (FMOLS) econometric technique is used as a way of addressing common time series identification issues such as endogeneity and serial correlation.

The study finds that the growth of the financial market has a negative and statistically significant relationship with NPLs in Ghana. Therefore, building a stable financial sector is key to addressing Ghana’s rising rates of NPLs.

Applying the breaks to Ghana's NPLs would involve deepening credit and improving efficiency through good governance. The study suggests that such a mechanism would increase financial sector performance and reduce the growth risks arising from the industry.

The study analyzes the influence of financial market development on the quarterly growth of NPLs in Ghana. Most studies only focus on annual growth of NPLs.

This paper develops and tests a theoretical model that draws on the Diffusion Contingency Model and the Theory of Human Behavior to explain the factors influencing users’ acceptance of accrual accounting in terms of two distinct dimensions: behavioral intention and usage behavior.

Based on surveyed data from financial departments and directorates of different Greek general government entities, the paper uses factor analysis to build a theoretical model that assesses the factors influencing behavioral intention to adopt and usage behavior of accrual accounting. Then, it tests the relationship between behavioral intention and usage behavior through structural equation modeling.

The theoretical model suggests that the expected improvement of the quality of financial information and political and financial support are the most important determinants of behavioral intention. Usage behavior is mainly influenced by the compatibility between the existing legal framework and the new accounting system. The structural equation modeling identifies a statistically significant positive influence of behavioral intention on usage behavior.

The study provides valuable insights regarding the timing and focus of the actions taken by policymakers when designing accounting reforms. Special attention is drawn to the factors influencing behavioral intentions, as these are found to influence usage behavior significantly.

The study extends prior research on the diffusion of accounting innovations by breaking down the diffusion process into intentions-oriented actions aiming to promote accrual accounting and increase acceptance and implementation-oriented actions aiming to facilitate successful implementation.

Over the years, public sector reforms in emerging economies have focused on improving national budget systems and financial management practices to promote sustainable development. In the context of the COVID-19 crisis, this article examines whether the strength or effectiveness of national budget systems and related financial management practices moderates the impact of fiscal policy measures on economic recovery and resilience.

The article uses bivariate correlations and difference-in-difference analyses to examine the relationship between budget system effectiveness, government stimulus measures and forecasts of economic recovery and resilience. The analysis uses data from the Public Expenditure and Financial Accountability (PEFA) program, International Monetary Fund (IMF) and World Bank.

The article finds that estimates of economic recovery and resilience are higher in countries with more reliable budget processes and more transparent public finances. Also, the strength or effectiveness of the budget system before the pandemic appears to moderate the impact of government stimulus measures on economic recovery and resilience over a medium-term forecast horizon.

This is a prospective analysis based on economic forecasts from the IMF, which are subject to change in the coming years. In addition, the analysis uses subjective budget system indicators, which present measurement challenges that often influence this area of research. Better comparative data in the future, for example, large administrative datasets, will enable researchers to explore these issues with less estimation bias.

The findings are relevant for policymakers and budget officials in developing countries in Africa who are engaged in plans to improve national budget systems and enhance resilience to crises, such as the COVID-19-induced economic crisis. The findings also have implications for developing countries beyond Africa with similar economic and fiscal conditions.

The findings have implications for economic and budgetary planning for the social sector as well as the efficient delivery of public services in developing countries. Public managers have a critical role to play in adapting national budget systems and financial management reforms within complex and evolving economic circumstances even after the coronavirus pandemic.

The authors use novel and latest data on country responses to the COVID-19 pandemic as well as medium-term economic forecasts to examine the relationship between national budget systems and post-pandemic economic recovery and resilience in the African context. Previous research has only addressed these issues in the context of industrialized countries, and a limited number of empirical studies examine these relationships. The findings also have significant value for policymakers outside Africa who are facing similar challenges related to the coronavirus pandemic.

This study aims to assess the evolution of the value relevance of book value, earnings and its components in Mauritius, an African developing country, focusing on value relevance changes after International Financial Reporting Standards (IFRS) adoption and subsequent local reforms.

The study relies on a data set of 567 firm-year observations (2001–2018) and the Ohlson valuation model to investigate value relevance after IFRS adoption, the implementation of institutional reforms and enforcement reforms.

Firstly, the authors find support for a rise in the combined value relevance of earnings and book value, albeit that book value significantly contributes to changes over time. The findings highlight the combined importance of IFRS adoption with institutional and enforcement reforms to improve value relevance. Secondly, the authors do not find evidence of a shift in value relevance between earnings and book value. Third, the cash flow model reveals a higher level of significance relative to the earnings model.

The authors extend the value relevance literature in the context of African developing countries. The present findings underpin the need for a reinforcing of relevant institutional and enforcement frameworks to ensure the benefits of IFRS adoption materialise. The findings also offer a contribution of how developing countries’ experience IFRS post-adoption while adding to the dearth of studies analysing IFRS enforcement practices.

The role of financial institutions and financial intermediaries in fostering economic growth (ECO) by improving the efficiency of capital accumulation, encouraging savings, and ultimately improving the productivity of the economy has been well established by the researchers. The reforms in the financial sector worldwide during the 1980s and 1990s were aimed at ushering in greater efficiency and more competitiveness.

The impact of financial market freedom (MF) on the overall development of the financial sector and thereby the growth in an economy is one of the most important considerations for policymakers over the years. This chapter aims to examine the causal relationship between financial MF and ECO in the Indian economy in the post-reform period.

This paper aims to reexamine the relationship between financial openness and financial development in Ghana.

The study applied maximum likelihood estimation and autoregressive distributed lag approach and tested Granger causality using quarterly data from 1990:1 to 2020:4.

This study revealed a long-run equilibrium relationship between financial openness and development, indicating that financial openness is a critical factor in Ghana’s financial development. Therefore, the study recommends with caution that policies aimed at promoting financial openness could be an effective way to encourage sustainable financial development in Ghana, as financial openness alone may not bring the desired outcome.

The study contributes to the existing body of knowledge by providing empirical evidence of the link between financial openness and financial sector development in Ghana. Future research could delve deeper into the mechanisms through which financial openness affects financial development, exploring potential channels and transmission mechanisms.

The findings suggest that policymakers, particularly the Ministry of Finance and the Bank of Ghana, should prioritize policies aimed at promoting financial openness. This includes continued efforts toward financial liberalization and creating an environment conducive to domestic and international financial transactions. Moreover, policies aimed at increasing trade openness, boosting real GDP and maintaining moderate real interest rates are essential for fostering financial sector development.

Enhancing financial sector development can have significant implications for society, including increased access to financial services, improved economic opportunities and enhanced overall economic stability. By promoting financial openness and development, policymakers would contribute to poverty reduction, job creation and overall socio-economic development. The study bridges the gap between theory and practice by providing empirical evidence supporting the theoretical proposition that financial openness stimulates financial sector development.

This study fills a crucial gap in the literature on the effects of financial openness on Ghana’s financial sector development. It focuses on Ghana, which liberalized its financial sector in 1988 as part of the overall economic reforms in 1983, and this justifies the starting point of this paper in 1990, as there are no adequate data before 1990. The study uses principal component analysis to construct an index that measures financial development. The study considers the recent financial crises in Ghana in 2017 and underscores the importance of understanding the link between financial openness and financial development, which becomes useful for policymakers and researchers studying financial system development in sub-Saharan Africa which includes Ghana.

This study examines accounting reform in the Sri Lankan public sector using an actor–network perspective. The study is particularly concerned with the role of the Institute of Chartered Accountants Sri Lanka (ICASL) in building networks of organisational actors in the diffusion of Sri Lankan Public Sector Accounting Standards (SLPSAS).

The empirical data draws on interviews with key actors to understand the role of ICASL in the diffusion of SLPSAS. Twenty-two semi-structured interviews were conducted with members of ICASL and senior public sector officers. The data were analysed based on the four stages underlying the translation process: problematisation, interessement, enrolment and mobilisation.

The data suggest that ICASL became a lead player in the diffusion of public sector accounting standards because of its superior technical capability. ICASL cultivated a way of thinking about accrual accounting by executing relational influence generated through professional knowledge, and connections with the government and public sector accountants.

Findings should be interpreted with caution; data are limited by the subjective interpretation of data. By concentrating on the role of ICASL, the role and influence of other key actors may be overlooked.

This study contributes to the literature on how innovations transform accounting practice through the lens of the ICASL. The result builds on evidence explaining why provincial governments and public sector governments were hesitant to adopt SLPSAS despite central government directives.