Trade Openness, Institutions and Financial Development in Sub-Saharan Africa

Witness Bandura

Studies in Economics and Econometrics, 2020, vol. 44, issue 2, 29-48

Abstract: The study aims to determine the connection between trade openness, institutions and financial development for 26 countries in sub-Saharan Africa over the period 1982-2016. The analysis relies on system GMM estimation with 5-year (non-overlapping) averaged data. The results reveal no evidence of a significant impact of trade openness on financial development. There is, however, evidence of a positive (though statistically weakly significant) impact of institutional quality on the development of the financial sector. There is also no evidence of a significant joint impact of the trade openness and institution quality on financial sector development.

Date: 2020
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DOI: 10.1080/10800379.2020.12097361

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