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Countries: The role of Mobile Banking & Financial Services Development in Africa

Christian Nguena ()

Economics Bulletin, 2020, vol. 40, issue 2, 1146-1158

Abstract: Using a specific database on mobile banking and financial services across countries, we document the questionable pro poor and inclusive growth in developing countries and show the importance of mobile financial and banking development for workforce productivity growth and inequality reduction. This paper uses several econometric techniques to investigate mobile finance and banking stylized facts with a focus on its real impact in Africa. The mobile banking index is constructed using the principal component analysis method. The statistical analysis reveals that there is a positive link between mobile banking development and inclusive growth. The estimation of three econometric models using different dependent variables and estimation techniques mainly show a positive impact of mobile finance & banking development on both workforce productivity growth and inequality reduction. These main findings suggests that policies to boost mobile finance and banking development in Africa should be viewed as measures that would bear fruits in the medium to long run.

Keywords: Pro-poor growth; Mobile finance and banking; Africa; Principal component analysis; Financial innovation; Workforce productivity (search for similar items in EconPapers)
JEL-codes: E2 G2 (search for similar items in EconPapers)
Date: 2020-04-29
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