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On financial innovation in developing countries: The determinants of mobile banking and financial development in Africa

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  • Christian-Lambert Nguena

Abstract

This study addresses the question of financial innovation in developing countries by focusing on the determinants of mobile banking development in Africa. Data on mobile banking across countries is partially constructed by the author, to which is applied panel data and cross-sectional econometric technics, to investigate the determinants of mobile banking development. Statistical analysis reveals that there is a positive link between the different proxies of mobile banking and an indicator of mobile banking development using the principal component analysis technique is constructed. Overall, the estimation of the four models highlights the following determinants: human capital development, credible monetary policy, infrastructure development, remittances facilitation, urbanization, trade openness and the facilitation of access to domestic credit from the banking sector. Also, the results of our robustness check are uncontroversial. A general recommendation to African governments is that they should pursue good performance in the light of the determinants highlighted above by implementing specific and well conditioned economic policies. JEL Codes: G21, R1, O4

Suggested Citation

  • Christian-Lambert Nguena, 2019. "On financial innovation in developing countries: The determinants of mobile banking and financial development in Africa," Journal of Innovation Economics, De Boeck Université, vol. 0(2), pages 69-94.
    • Handle: RePEc:cai:jiedbu:jie_029_0069
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    Cited by:

    1. Gnangnon, Sèna Kimm, 2021. "Effect of poverty on financial development: Does trade openness matter?," The Quarterly Review of Economics and Finance, Elsevier, vol. 82(C), pages 97-112.
    2. Christian L. Nguena, 2020. "Countries: The role of Mobile Banking & Financial Services Development in Africa," Economics Bulletin, AccessEcon, vol. 40(2), pages 1146-1158.
    3. Dai Thich Phan, 2020. "I have seen the future, and it rings - What we know about mobile banking research," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 16(02), pages 69-79.
    4. Putri Aliah Mohd Hidzir & Shafinar Ismail & Sharifah Heryati Syed Nor & Aqilah Nadiah Md Sahiq, 2023. "Financial Well-Being of Micro-Entrepreneurs: A Proposed Conceptual Framework," Information Management and Business Review, AMH International, vol. 15(3), pages 418-428.
    5. Timilsina,Govinda R. & Sahoo,Pravakar & Dash,Ranjan Kumar, 2022. "Why Do Indian States Differ in Their Infrastructure Development ?," Policy Research Working Paper Series 10086, The World Bank.
    6. Muhammad Suhail Saleem & Asad Abbas & Dr Muhammad Ramzan Sheikh & Sana Sultan, 2024. "Financial Development in the SAARC Region: Identifying Influential Factors," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(2), pages 513-525.
    7. Christian Lambert Nguena & Martial Bindoumou, 2024. "Climate Change and Farm Household Income in Northern Cameroon: A Ricardian Analysis," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 22(1), pages 179-197, March.
    8. Bantyergu Engida Bati, 2025. "Determinants of Ethiopian banking sector development: a 30-year empirical analysis with ARDL model," Journal of Innovation and Entrepreneurship, Springer, vol. 14(1), pages 1-21, December.

    More about this item

    Keywords

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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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