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Financial development and economic growth nexus in SSA economies: The moderating role of telecommunication development

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  • Mac Junior Abeka
  • Eric Andoh
  • John Gartchie Gatsi
  • Seyram Kawor
  • David McMillan

Abstract

The economic growth of most sub-Saharan African countries in the past years has not been able to equalize with other regions. Even though financial development has been highlighted in several empirical literature as a factor that could spur up economic growth, the level of financial development in sub-Saharan Africa is not effectively channeled into desired levels of economic growth. However, there is an indication in the literature that financial development will be more relevant to the economic growth of sub-Saharan African economies that have strong telecommunication infrastructure. Using the system General Method of Moment estimation technique, the paper found that telecommunication infrastructure enhances the effect of financial development on the economic growth of sub-Saharan African economies. It is therefore recommended that sub-Saharan African economies should apply appropriate measures to boost their telecommunication infrastructure so that gains from the financial sector can effectively be channeled into economic growth.

Suggested Citation

  • Mac Junior Abeka & Eric Andoh & John Gartchie Gatsi & Seyram Kawor & David McMillan, 2021. "Financial development and economic growth nexus in SSA economies: The moderating role of telecommunication development," Cogent Economics & Finance, Taylor & Francis Journals, vol. 9(1), pages 1862395-186, January.
    • Handle: RePEc:taf:oaefxx:v:9:y:2021:i:1:p:1862395
    DOI: 10.1080/23322039.2020.1862395
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    Cited by:

    1. Rishan Sampath Hewag & Jaafar Pyeman & Norashida Othman, 2023. "Effect of Structural Break on Financial Development and Economic Growth Nexus in Middle-Income Countries in Asia: Moderating Role of Technological Advancements," Information Management and Business Review, AMH International, vol. 15(2), pages 205-214.
    2. Samuel Kwaku Agyei & Nathaniel Kwapong Obuobi & Mohammed Zangina Isshaq & Mac Junior Abeka & John Gartchie Gatsi & Ebenezer Boateng & Emmanuel Kwakye Amoah, 2022. "Country-Level corporate governance and Foreign Portfolio Investments in Sub-Saharan Africa: The moderating role of institutional quality," Cogent Economics & Finance, Taylor & Francis Journals, vol. 10(1), pages 2106636-210, December.
    3. Adamu Jibir & Hassan Zada & Musa Abdu & Naveed Khan, 2023. "Financial Development And Innovationled Economic Growth: Empirical Insight From Sub-Saharan Africa," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 68(237), pages 97-136, April – J.
    4. Zhao, Xin & Samour, Ahmed & AlGhazali, Abdullah & Wang, Wenjing & Chen, Guannan, 2023. "Exploring the impacts of natural resources, and financial development on green energy: Novel findings from top natural resources abundant economies," Resources Policy, Elsevier, vol. 83(C).

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