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Financial Determinants of Human Development in Developing Countries

Author

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  • Asongu Simplice

    (Yaoundé/Cameroun)

Abstract

Hitherto financial drivers of human development have been unexplored by the UNDP. This paper assesses determinants of human development from financial dynamics of depth, efficiency, size and activity on data from 38 developing countries. While the importance of financial activity, size and depth (in decreasing order) is significant for inequality adjusted human development, financial allocation efficiency significantly undermines welfare. As a policy implication results do not support financial allocation efficiency as a driver of human development.

Suggested Citation

  • Asongu Simplice, 2011. "Financial Determinants of Human Development in Developing Countries," Working Papers of the African Governance and Development Institute. 11/012, African Governance and Development Institute..
    • Handle: RePEc:agd:wpaper:11/012
    as

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    File URL: http://www.afridev.org/RePEc/agd/agd-wpaper/Financial-determinants-of-human-development-in-Africa.pdf
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    References listed on IDEAS

    as
    1. Simplice A. Asongu, 2015. "Law,Finance, Economic Growth and Welfare: Why Does Legal Origin Matter?," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 7(2), pages 30-55, July.
    2. Isham, Jonathan & Kaufmann, Daniel & Pritchett, Lant H, 1997. "Civil Liberties, Democracy, and the Performance of Government Projects," The World Bank Economic Review, World Bank, vol. 11(2), pages 219-242, May.
    3. repec:srs:journl:jarle:v:2:y:2011:i:4:p:94-108 is not listed on IDEAS
    4. Simplice A. Asongu, 2012. "Law and Finance in Africa," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 55(4), pages 385-408.
    5. Hassan, M. Kabir & Sanchez, Benito & Yu, Jung-Suk, 2011. "Financial development and economic growth: New evidence from panel data," The Quarterly Review of Economics and Finance, Elsevier, vol. 51(1), pages 88-104, February.
    6. repec:srs:jarle2:1:v:2:y:2011:i:2:p:94-108 is not listed on IDEAS
    7. Simplice ASONGU, 2011. "Why Do French Civil Law Countries Have Higher Levels Of Financial Efficiency," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 2(4), pages 94-108.
    8. Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2003. "Law and finance: why does legal origin matter?," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 653-675, December.
    9. Deepa Narayan, 2005. "Measuring Empowerment : Cross Disciplinary Perspectives," World Bank Publications - Books, The World Bank Group, number 7441, December.
    10. Picciotto, Robert, 1992. "Participatory development : myths and dilemmas," Policy Research Working Paper Series 930, The World Bank.
    11. Simplice A., Asongu, 2011. "Law, economic growth and human development," MPRA Paper 34082, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Simplice A., Asongu, 2011. "Finance and inequality: exploring pro-poor investment channels in Africa," MPRA Paper 34994, University Library of Munich, Germany.
    2. Simplice A. Asongu, 2013. "Investment And Inequality In Africa: Which Financial Channels Are Good For The Poor?," The African Finance Journal, Africagrowth Institute, vol. 15(2), pages 43-65.
    3. Simplice A, Asongu, 2011. "Deforestation and welfare : evidence from Africa," MPRA Paper 35161, University Library of Munich, Germany.
    4. Simplice A. Asongu & Brian A. Jingwa, 2012. "Population growth and forest sustainability in Africa," International Journal of Green Economics, Inderscience Enterprises Ltd, vol. 6(2), pages 145-166.
    5. Asongu Simplice, 2013. "Globalization and Africa: implications for human development," International Journal of Development Issues, Emerald Group Publishing Limited, vol. 12(3), pages 213-238, September.
    6. Simplice A. Asongu, 2016. "Law and Investment in Africa," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 8(2), pages 95-124, April.
    7. Avisek Sen & Arindam Laha, 2022. "Financial Inclusion and Quality of Life: Empirical Evidences from Indian States with Special Reference to West Bengal," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 47(2), pages 139-164, May.

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    More about this item

    Keywords

    Banking; human development; developing countries; instrumental variables;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • I00 - Health, Education, and Welfare - - General - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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