Tribalism and Financial Development

Oasis Kodila-Tedika and Simplice Asongu

MPRA Paper from University Library of Munich, Germany

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)
Date: 2015-05
New Economics Papers: this item is included in nep-cfn, nep-fdg and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Tribalism and Financial Development (2015)
Working Paper: Tribalism and Financial Development (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:67855

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