Financial Inclusion, Banking Sector Development, and Financial Stability in Africa

Ebenezer Bugri Anarfo (), Miracle Ntuli (), Sarah Serwah Boateng () and Joshua Yindenaba Abor ()
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Ebenezer Bugri Anarfo: Ghana Institute of Management and Public Administration
Miracle Ntuli: University of the Witwatersrand
Sarah Serwah Boateng: Ghana Institute of Management and Public Administration
Joshua Yindenaba Abor: University of Ghana Business School

Chapter Chapter 4 in The Economics of Banking and Finance in Africa, 2022, pp 101-134 from Palgrave Macmillan

Abstract: Abstract This chapter simultaneously explored the causal links among financial inclusion, banking sector development, and financial stability. It used a panel vector autoregressive (VAR) estimation approach to empirically explore these causal links. Financial inclusion, banking sector development, and financial stability all have a reverse causation, according to the findings. This finding suggests that these variables are complementary rather than contradictory. Accordingly, financial institutions and central governments should not separately pursue any of these variables as a policy objective but rather consider them as complements when modeling or implementing economic policies for development. This allows the pursuit of financial stability without compromising financial inclusion and banking sector development.

Keywords: Financial Inclusion; Banking Sector Development; Financial Stability; Vector autoregressive; Africa (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-04162-4_4

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DOI: 10.1007/978-3-031-04162-4_4

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