The African Financial Development and Financial Inclusion Gaps
37 Pages Posted: 20 Apr 2016
Date Written: September 1, 2014
This paper investigates the African financial development and financial inclusion gaps relative to other peer developing countries. The paper uses a set of variables related to financial development and inclusion. It first estimates the gaps between African countries and other developing countries with similar degrees of economic development. Then, it explores the determinants of financial development and inclusion. The analysis finds that population density is considerably more important for financial development and inclusion in Africa than elsewhere. Finally, the paper shows evidence that a recent innovation in financial services, mobile banking, has helped to overcome infrastructural problems and improve financial access.
Keywords: Economic Theory & Research, Access to Finance, Emerging Markets, Debt Markets, E-Business
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