Financial determinants of human development in developing countries

Simplice Anutechia Asongu ()

MPRA Paper from University Library of Munich, Germany

Abstract: Hitherto financial drivers of human development have been unexplored by the UNDP. This paper assesses determinants of human development from financial dynamics of depth, efficiency, size and activity on data from 38 developing countries. While the importance of financial activity, size and depth (in decreasing order) is significant for inequality adjusted human development, financial allocation efficiency significantly undermines welfare. As a policy implication results do not support financial allocation efficiency as a driver of human development.

Keywords: Banking; human development; developing countries; instrumental variables (search for similar items in EconPapers)
JEL-codes: O10 I00 E00 G20 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-eff and nep-fdg
Date: 2011-10-19
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:33949

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