Determinants of Financial Inclusion in Africa: A Dynamic Panel Data Approach
Olaniyi Evans
MPRA Paper from University Library of Munich, Germany
Abstract:
This study documents the determinants of financial inclusion in Africa for the period 2005 to 2014, using the dynamic panel data approach. The study finds that per capita income, broad money (% of GDP), literacy, internet access and Islamic banking presence and activity are significant factors explaining the level of financial inclusion in Africa. Domestic credit provided by financial sector (% of GDP), deposit interest rates, inflation and population have insignificant impacts on financial inclusion. The findings of this study are of utmost value to African central banks, policymakers and commercial bankers as they advance innovative approaches to enhance the involvement of excluded poor people in formal finance in Africa.
Keywords: Financial inclusion; finance; dynamic panel data; Africa (search for similar items in EconPapers)
JEL-codes: G2 O1 O16 O17 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-ban, nep-fdg, nep-fle and nep-pay
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Citations: View citations in EconPapers (26)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:81326
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