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Addressing the Severity and Intensity of Poverty in Sub-Saharan Africa: How Relevant is the ICT and Financial Development Pathway?

Isaac Ofori (), Mark Armah (), Francis Taale () and Pamela Ofori ()
Additional contact information
Isaac Ofori: University of Insubria, Varese, Italy
Mark Armah: University of Cape Coast, Cape Coast, Ghana.
Pamela Ofori: University of Insubria, Varese, Italy

No 21/064, Working Papers from European Xtramile Centre of African Studies (EXCAS)

Abstract: The study examines the effectiveness of financial development, financial access, and ICT diffusion in reducing the severity and intensity of poverty in Sub-Saharan Africa (SSA). Using data from the World Bank’s World Development Indicators, and the Global Consumption and Income Project (1980–2019), we provide evidence robust to several specifications from the dynamic system GMM and the panel corrected standard errors estimation techniques to show that, compared to financial access, ICT usage, and ICT access, ICT skills is remarkable in reducing both the severity and intensity of poverty. The results further unveil that, though ICT skills reduce the intensity and severity of poverty in SSA, the effect is more pronounced in the presence of enhanced financial development and financial access. Policy recommendations are provided in line with the region’s green growth agenda and the rise in technological hubs of the region.

Keywords: Financial Access; Financial Development; ICT; Inequality; Poverty; Africa (search for similar items in EconPapers)
JEL-codes: C33 D31 F63 I3 O33 (search for similar items in EconPapers)
Pages: 36
Date: 2021-01
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Forthcoming: Heliyon Business and Economics

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http://publications.excas.org/RePEc/exs/exs-wpaper ... rty-In-SSA-Final.pdf Revised version, 2021 (application/pdf)

Related works:
Journal Article: Addressing the Severity and Intensity of Poverty in Sub-Saharan Africa: How Relevant is the ICT and Financial Development Pathway? (2021) Downloads
Working Paper: Addressing the Severity and Intensity of Poverty in Sub-Saharan Africa: How Relevant is the ICT and Financial Development Pathway? (2021) Downloads
Working Paper: Addressing the Severity and Intensity of Poverty in Sub-Saharan Africa: How Relevant is the ICT and Financial Development Pathway? (2021) Downloads
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