PROMOTING FINANCIAL INCLUSIVITY, A ROUTE TO ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS FROM SUB-SAHARAN AFRICAN COUNTRIES

Sulayman Jallow (), Pradipta Kumar Sahoo () and Bamadev Mahapatra ()
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Sulayman Jallow: KIIT Deemed to be University, India
Pradipta Kumar Sahoo: Narasingh Choudhury Autonomous College, Jajpur (Utkal University), India
Bamadev Mahapatra: Biju Patnaik University of Technology, Odisha

Bulletin of Monetary Economics and Banking, 2024, vol. 27, issue Spesial Issue, 59-74

Abstract: This study examines the relationship between financial inclusion and per capita income growth for 42 sub-Saharan African countries from 2007 to 2020. Using the Generalized Method for Moments framework, this study discloses that a rise in the number of bank branches, automated teller machines, and savings stimulates per capita economic growth. Conversely, an elevated number of credit provisions to the private sector and high growth of population hinder per capita economic growth. The policy recommendation is for banking authorities to expand their services to underserved areas, raise interest rates on deposits, and decrease credit provision to the private sector.

Keywords: Financial inclusion; Sub-Saharan Africa; Economic growth (search for similar items in EconPapers)
JEL-codes: F43 G2 G21 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:27:y:2024:i:sie:p:59-74

DOI: 10.59091/2460-9196.2159

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