Financial Permeation and Economic Growth: Evidence from Sub-Saharan Africa
AbstractThis article empirically analyzes the role of finance in economic growth in Sub-Saharan Africa from the perspective of what is termed herein “financial permeation”. By estimating panel data on 37 countries in Sub-Saharan Africa between 2004 and 2010, we examine whether financial permeation through improved convenience and access to financial services has contributed to economic growth in this region. Empirical results clearly indicate that financial permeation has a statistically significant and robust effect on increasing economic growth in Sub-Saharan Africa.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 53417.
Date of creation: Oct 2013
Date of revision:
Economic growth; Financial inclusion; Financial permeation; Sub-Sahara Africa;
Find related papers by JEL classification:
- G00 - Financial Economics - - General - - - General
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
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