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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 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
    File Function: Revised version, 2013
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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," World Bank Economic Review, World Bank Group, vol. 11(2), pages 219-242, May.
    3. Simplice A. Asongu, 2012. "Law and Finance in Africa," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 55(4), pages 385-408.
    4. repec:srs:jarle2:1:v:2:y:2011:i:2:p:94-108 is not listed on IDEAS
    5. 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.
    6. Simplice A. 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. 0(2), pages 94-108, December.
    7. 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

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Asongu Simplice, 2013. "Globalization and Africa: implications for human development," International Journal of Development Issues, Emerald Group Publishing, vol. 12(3), pages 213-238, September.
    2. Simplice A., Asongu, 2011. "Finance and inequality: exploring pro-poor investment channels in Africa," MPRA Paper 34994, University Library of Munich, Germany.
    3. 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.
    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. repec:umk:journl:v:8:y:2016:i:2:p:95-124 is not listed on IDEAS
    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. Simplice A, Asongu, 2011. "Deforestation and welfare : evidence from Africa," MPRA Paper 35161, University Library of Munich, Germany.

    More about this item

    Keywords

    Banking; human development; developing countries; instrumental variables;

    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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