Finance and Democracy in Africa

Asongu, Simplice

Finance and Democracy in Africa

No 11/020, Working Papers of the African Governance and Development Institute. from African Governance and Development Institute.

Abstract: This paper focuses on how political regimes affect financial development in Africa, contingent on religious-domination, income-levels and colonial-legacies. The main findings are summarized as follows. Authoritarian regimes have a higher propensity to effect policies that favour the development of financial intermediary depth, activity and size. Democracy has important effects on the degree of competition for public offices but less significant effects in comparison with autocracy on policies towards financial development. As a policy implication, once democracy is initiated, it should be accelerated (to edge the appeals of authoritarian regimes) and reap the benefits of level and time hypotheses in financial development.

Keywords: Banking; Finance; Politics; Democracy; Development (search for similar items in EconPapers)
JEL-codes: E40 E50 O10 P16 P50 (search for similar items in EconPapers)
Pages: 32
Date: 2011-12-20
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Forthcoming: Institutions and Economies

Downloads: (external link)
http://www.afridev.org/RePEc/agd/agd-wpaper/Finance-and-democracy-in-Africa.pdf Revised version, 2013 (application/pdf)

Related works:
Journal Article: Finance and Democracy in Africa (2014)
Working Paper: Finance and democracy in Africa (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:agd:wpaper:11/020

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