FinTech in Sub-Saharan Africa: What Has Worked Well, and What Hasn't

David Yermack

No 25007, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The FinTech sector has begun to grow rapidly in sub-Saharan Africa. I document far greater adoption of social media, digital currency, ride sharing, and other FinTech applications in countries with a common law legal heritage compared to those with a civil law system, suggesting that legal origin plays a critical role in setting the stage for growth through entrepreneurship in the developing world. The electrical, telecom, and Internet infrastructure required for FinTech has been built out more extensively in common law countries. Financial inclusion outcomes are also better in emerging markets that have a common law heritage.

JEL-codes: K15 O14 O17 O30 O55 R00 (search for similar items in EconPapers)
Date: 2018-09
New Economics Papers: this item is included in nep-afr, nep-ict and nep-pay
Note: DEV LE PR
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