Financial Permeation and Economic Growth: Evidence from Sub-Saharan Africa

Takeshi Inoue and Shigeyuki Hamori

MPRA Paper from University Library of Munich, Germany

Abstract: This article empirically analyzes the role of finance in economic growth in Sub-Saharan Africa from the perspective of what is termed herein “financial permeation”. By estimating panel data on 37 countries in Sub-Saharan Africa between 2004 and 2010, we examine whether financial permeation through improved convenience and access to financial services has contributed to economic growth in this region. Empirical results clearly indicate that financial permeation has a statistically significant and robust effect on increasing economic growth in Sub-Saharan Africa.

Keywords: Economic growth; Financial inclusion; Financial permeation; Sub-Sahara Africa (search for similar items in EconPapers)
JEL-codes: G00 O11 (search for similar items in EconPapers)
Date: 2013-10
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:53417

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