Finance, Institutions and Private Investment in Africa

Simplice Asongu, Joseph Nnanna () and Vanessa Tchamyou ()
Additional contact information
Joseph Nnanna: The Development Bank of Nigeria, Abuja, Nigeria

No 20/080, Working Papers from European Xtramile Centre of African Studies (EXCAS)

Abstract: The study extends the debate on finance versus institutions and measurement of property rights institutions. We assess the relationships between various components of property rights institutions and private investment, notably: political, economic and institutional governances. Comparative concurrent relationships of financial dynamics of depth, efficiency, activity and size are also investigated. The findings provide support for the quality of institutions as a better positive correlate of private investment than financial intermediary development. The interaction of finance and governance is not significant in potentially promoting private investment, perhaps due to substantially documented surplus liquidity issues in African financial institutions. The empirical evidence is based on 53 African countries for the period 1996-2010. Policy measures are discussed for reducing financial deposits, increasing financial activity and hence, improving financial efficiency.

Keywords: Finance; Institutions; Investment: Property Rights; Africa (search for similar items in EconPapers)
JEL-codes: E02 G20 G24 O55 P14 (search for similar items in EconPapers)
Pages: 38
Date: 2020-01
New Economics Papers: this item is included in nep-fdg and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Forthcoming: Politics & Policy

Downloads: (external link)
http://publications.excas.org/RePEc/exs/exs-wpaper ... stment-in-Africa.pdf Revised version, 2020 (application/pdf)

Related works:
Working Paper: Finance, Institutions and Private Investment in Africa (2020)
Working Paper: Finance, Institutions and Private Investment in Africa (2020)
Working Paper: Finance, Institutions and Private Investment in Africa (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:exs:wpaper:20/080

Access Statistics for this paper

More papers in Working Papers from European Xtramile Centre of African Studies (EXCAS)
Bibliographic data for series maintained by Anutechia Asongu Simplice ().