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Financial consumer protection and economic growth

Author

Listed:
  • Maryam Kriese
  • Joshua Yindenaba Abor
  • Elipklimi Agbloyor

Abstract

Purpose - The purpose of this paper is to examine the link between financial consumer protection (FCP) and economic growth. Design/methodology/approach - The authors use cross-country data on 114 countries surveyed in the World Bank Global Survey on FCP and Financial Literacy (2013) and endogenous treatment regressions for the estimation. Findings - The results indicate that FCP enhances economic growth through fair treatment, responsible lending, enforcement and dispute resolution and recourse regulations. The authors find no evidence to suggest that disclosure and compliance monitoring regulations have an effect on economic growth. Practical implications - This study provides rich insight into the important question faced by policy makers, as to which FCP regulatory mechanisms to put in place to enhance economic growth. Originality/value - This study provides current, cross-country empirical evidence on the debate as to whether FCP enhances economic growth.

Suggested Citation

  • Maryam Kriese & Joshua Yindenaba Abor & Elipklimi Agbloyor, 2019. "Financial consumer protection and economic growth," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(5), pages 1060-1080, August.
    • Handle: RePEc:eme:ijoemp:ijoem-05-2018-0229
    DOI: 10.1108/IJOEM-05-2018-0229
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    Cited by:

    1. Zhang, Ailian & Wang, Shuyao & Lien, Donald & Yu, Chia-Feng (Jeffrey), 2023. "Are banks rewarded for financial consumer protection? Evidence from a quasi-natural experiment," Finance Research Letters, Elsevier, vol. 52(C).

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