How do financial inclusion and bank stability explain agricultural productivity in Sub-Saharan Africa?

Isaac Kofi Bekoe, Joshua Abor and Samuel Sekyi

Journal of Economic Studies, 2024, vol. 52, issue 2, 225-238

Abstract: Purpose - This study aims to examine the impact of financial inclusion and bank stability on agricultural productivity in Sub-Saharan Africa (SSA). Design/methodology/approach - The study used 38 countries in the SSA with data spanning between 2004 and 2021. The data were analyzed using the two-step system generalized method of moments (GMM) and the panel-corrected standard error (PCSE) model. Findings - The study found a positive effect of financial inclusion and bank stability on agricultural productivity. The study also discovered that while the access component of financial inclusion has a negative influence on agricultural productivity, the usage dimension has a positive impact. Research limitations/implications - The study suggests to policymakers that an inclusive and stable financial system improves agricultural productivity. The findings recommend that policymakers should empower farmers to leverage financial inclusion. Originality/value - This study provides insightful discussion on the impact of financial inclusion and its various dimensions and bank stability on agricultural productivity in SSA.

Keywords: Financial inclusion; Bank stability; Agricultural productivity; Sub-Saharan Africa; GMM; PCSE (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jespps:jes-09-2023-0526

DOI: 10.1108/JES-09-2023-0526

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