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The African Financial Development and Financial Inclusion Gaps

Author

Listed:
  • Franklin Allen
  • Elena Carletti
  • Robert Cull
  • Jun “Qj” Qian
  • Lemma Senbet
  • Patricio Valenzuela

Abstract

This paper investigates the African financial development and financial inclusion gaps relative to other peer developing countries. Using a set of variables related to financial development and inclusion, we first estimate the gaps between African countries and other developing countries with similar degrees of economic development. Then, we explore the determinants of financial development and inclusion and find that population density appears to be considerably more important for financial development and inclusion in Africa than elsewhere. We then show evidence that a recent innovation in financial services, mobile banking, has helped to overcome infrastructural problems and improve financial access. JEL CODES: G2; O1; R2. Key words: Financial development, financial inclusion, development gaps, Africa

Suggested Citation

  • Franklin Allen & Elena Carletti & Robert Cull & Jun “Qj” Qian & Lemma Senbet & Patricio Valenzuela, 2013. "The African Financial Development and Financial Inclusion Gaps," Documentos de Trabajo 305, Centro de Economía Aplicada, Universidad de Chile.
    • Handle: RePEc:edj:ceauch:305
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    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles

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