Tribalism and Financial Development

Simplice Asongu and Oasis Kodila-Tedika

No 15/018, Working Papers of the African Governance and Development Institute. from African Governance and Development Institute.

Abstract: We assess the correlations between tribalism and financial development in 123 countries using data averages from 2000-2010. The tribalism index is used to measure tribalism whereas financial development is measured from perspectives of financial intermediary and stock market developments. The long-term variable is stock market capitalisation while short-run indicators include: private and domestic credits. We find that tribalism is negatively correlated with financial development and the magnitude of negativity is higher for financial intermediary development relative to stock market development. The findings are particularly relevant to African and Middle Eastern countries where the scourge is most pronounced.

Keywords: Tribalism; Financial Development (search for similar items in EconPapers)
JEL-codes: E62 G20 H11 H20 O43 (search for similar items in EconPapers)
Pages: 18
Date: 2015-05
New Economics Papers: this item is included in nep-afr, nep-cfn, nep-fdg and nep-mac
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Citations: View citations in EconPapers (14)

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http://www.afridev.org/RePEc/agd/agd-wpaper/Tribal ... cial-development.pdf Revised version, 2015 (application/pdf)

Related works:
Working Paper: Tribalism and Financial Development (2015)
Working Paper: Tribalism and Financial Development (2015)
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