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Finance, Institutions and Private Investment in Africa

Simplice Asongu (), Joseph Nnanna () and Vanessa Tchamyou ()
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Joseph Nnanna: The Development Bank of Nigeria, Abuja, Nigeria

No 20/080, Research Africa Network Working Papers from Research Africa Network (RAN)

Abstract: The study extends the debate on finance versus institutions and measurement of property rights institutions. We assess the relationships between various components of property rights institutions and private investment, notably: political, economic and institutional governances. Comparative concurrent relationships of financial dynamics of depth, efficiency, activity and size are also investigated. The findings provide support for the quality of institutions as a better positive correlate of private investment than financial intermediary development. The interaction of finance and governance is not significant in potentially promoting private investment, perhaps due to substantially documented surplus liquidity issues in African financial institutions. The empirical evidence is based on 53 African countries for the period 1996-2010. Policy measures are discussed for reducing financial deposits, increasing financial activity and hence, improving financial efficiency.

Keywords: Finance; Institutions; Investment: Property Rights; Africa (search for similar items in EconPapers)
JEL-codes: E02 G20 G24 O55 P14 (search for similar items in EconPapers)
Pages: 38
Date: 2020-01
New Economics Papers: this item is included in nep-fdg, nep-mac and nep-pay
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Forthcoming: Politics & Policy

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http://publications.resanet.org/RePEc/abh/abh-wpap ... stment-in-Africa.pdf Revised version, 2020 (application/pdf)

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Working Paper: Finance, Institutions and Private Investment in Africa (2020) Downloads
Working Paper: Finance, Institutions and Private Investment in Africa (2020) Downloads
Working Paper: Finance, Institutions and Private Investment in Africa (2020) Downloads
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