Does institutional quality affect financial inclusion in Africa? A panel data analysis

Bruno Emmanuel Ongo Nkoa and Jacques Simon Song

Economic Systems, 2020, vol. 44, issue 4

Abstract: In this article, we investigate the impact of institutional quality on financial inclusion with a sample of fifty-one African countries. We specify and estimate a dynamic panel data model with the system–generalized method of moments (sys-GMM) over the period 2004–2018, based on different approaches to financial inclusion. Our results show that institutional quality increases financial inclusion as well as the penetration, accessibility, and use of financial services in Africa. These results remain robust to the provision of financial education. Acceleration of income-generating activities in Africa will require improvement in financial institutions.

Keywords: Africa; Education; Institutions; Sys-GMM (search for similar items in EconPapers)
JEL-codes: D02 E02 G02 G21 G32 I22 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (32)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecosys:v:44:y:2020:i:4:s0939362520301540

DOI: 10.1016/j.ecosys.2020.100836

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