Financial Determinants of Human Development in Developing Countries

African Governance and Development Institute WP/11/012

21 Pages Posted: 9 Sep 2014

See all articles by Simplice Asongu

Simplice Asongu

African Governance and Development Institute

Date Written: October 8, 2011

Abstract

Hitherto financial drivers of human development have been unexplored by the UNDP. This paper assesses determinants of human development from financial dynamics of depth, efficiency, size and activity on data from 38 developing countries. While the importance of financial activity, size and depth (in decreasing order) is significant for inequality adjusted human development, financial allocation efficiency significantly undermines welfare. As a policy implication results do not support financial allocation efficiency as a driver of human development.

Keywords: Banking; human development; developing countries; instrumental variables

JEL Classification: E00; G20; I00; O10

Suggested Citation

Asongu, Simplice, Financial Determinants of Human Development in Developing Countries (October 8, 2011). African Governance and Development Institute WP/11/012. Available at SSRN: https://ssrn.com/abstract=2493142 or http://dx.doi.org/10.2139/ssrn.2493142

Simplice Asongu (Contact Author)

African Governance and Development Institute ( email )

P.O. Box 8413
Yaoundé, 8413
Cameroon

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