Tribalism and Finance

Oasis Kodila-Tedika and Simplice Asongu

No 20/092, Working Papers from European Xtramile Centre of African Studies (EXCAS)

Abstract: We assess the correlations between tribalism and financial development in 60 countries using data averages from 2000-2010. The tribalism index is used to measure tribalism whereas financial development is measured from perspectives of financial intermediary and stock market developments. The long term finance variable is stock market capitalisation while the short run variable is private and domestic credit. We find that tribalism is negatively correlated with financial development and the magnitude of negativity is higher for financial intermediary development relative to stock market development. The findings are particularly relevant to African and Middle Eastern countries where the scourge of tribalism is most pronounced.

Keywords: Tribalism; Financial Development (search for similar items in EconPapers)
JEL-codes: E62 G20 H11 H20 O43 (search for similar items in EconPapers)
Pages: 20
Date: 2020-01
New Economics Papers: this item is included in nep-cfn, nep-fdg and nep-mac
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Forthcoming: Journal of Interdisciplinary Economics

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http://publications.excas.org/RePEc/exs/exs-wpaper/Tribalism-and-Finance.pdf Revised version, 2020 (application/pdf)

Related works:
Journal Article: Tribalism and Finance (2022)
Working Paper: Tribalism and Finance (2020)
Working Paper: Tribalism and Finance (2020)
Working Paper: Tribalism and Finance (2020)
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