Entrepreneurship, Digital Finance Channels and Financial Development: Evidence from the African Context

Daniel Ofori-Sasu, Eunice Adu-Darko, Gloria Clarissa Dzeha and Adelaide Kastner ()
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Adelaide Kastner: Central University, Ghana

The African Finance Journal, 2023, vol. 25, issue 2, 1-17

Abstract: We empirically examine the interrelationships between entrepreneurship, digital finance channels, and financial development for 52 African economies from 2004 to 2020 using dynamic system GMM. First, the study examines the reverse relationship between entrepreneurship and financial development; and second, shows the impact of digital finance channels on this relationship. We find that the entrepreneur-finance nexus is positive and bi-directional. Further, digital finance distribution channels are positively linked to entrepreneurship and financial development and are important for augmenting the positive reverse entrepreneurship-finance nexus. Policymakers must continue to develop Africa's digital finance technology to accelerate the pace of entrepreneurship and financial development.

Keywords: Entrepreneurship; Ease of doing business; digital finance channels; financial development (search for similar items in EconPapers)
JEL-codes: F3 L26 O14 O24 O4 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:afj:journl:v:25:y:2023:i:2:p:1-17

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