Ict Financial Inclusion And Growth Evidence From African Countries
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Author | : Mr.Kangni Kpodar |
Publisher | : International Monetary Fund |
Total Pages | : 47 |
Release | : 2011-04-01 |
Genre | : Business & Economics |
ISBN | : 1455227064 |
This paper studies the impact of information and communication technologies (ICT), especially mobile phone rollout, on economic growth in a sample of African countries from 1988 to 2007. Further, we investigate whether financial inclusion is one of the channels through which mobile phone development influences economic growth. In estimating the impact of ICT on economic growth, we use a wide range of ICT indicators, including mobile and fixed telephone penetration rates and the cost of local calls. We address any endogeneity issues by using the System Generalized Method of Moment (GMM) estimator. Financial inclusion is captured by variables measuring access to financial services, such as the number of deposits or loans per head, compiled by Beck, Demirguc-Kunt, and Martinez Peria (2007) and the Consultative Group to Assist the Poor (CGAP, 2009). The results confirm that ICT, including mobile phone development, contribute significantly to economic growth in African countries. Part of the positive effect of mobile phone penetration on growth comes from greater financial inclusion. At the same time, the development of mobile phones consolidates the impact of financial inclusion on economic growth, especially in countries where mobile financial services take hold.
Author | : Munacinga C. Simatele |
Publisher | : AOSIS |
Total Pages | : 316 |
Release | : 2022-02-15 |
Genre | : Business & Economics |
ISBN | : 1776341813 |
Financial inclusion has been noted as a key driver of poverty alleviation and growth. Yet, most of the scholarly work that exists lacks a comprehensive discussion of how the poor interact with financial services and the channels through which such services can affect their livelihoods. This book offers researchers who focus on financial inclusion and African economies a one-stop resource for understanding the channels of transmission for financial inclusion as well as an application of these channels through original country-specific empirical papers. The book provides a back-to-basics presentation of the transmission of financial services to growth and poverty. This theoretical discussion is complemented by an empirical presentation of the various services used by the poor, with a focus on Africa. Case studies of financial inclusion in six African countries cover a broad range of topics most important to African countries and highlight the unique African setting. These empirical papers provide important learning points. Firstly, hybrid financial institutions such as cooperative financial institutions and financial social entrepreneurs are the best way to increase financial inclusion in Africa. They provide important vehicles to circumvent the restrictive and exclusive bank-based financial markets typical of African economies. Secondly, digital finance is a potent tool for improving financial access and usage in Africa, and its impact on poverty operates through both traditional and nontraditional financial instruments. Thirdly, investment in infrastructure which supports complementary markets is critical and is likely to have a greater effect on credit rationing than direct provision of credit to small businesses.
Author | : Daniel Makina |
Publisher | : Academic Press |
Total Pages | : 344 |
Release | : 2019-06-09 |
Genre | : Business & Economics |
ISBN | : 0128142030 |
Extending Financial Inclusion in Africa unveils the genesis and transformation of Africa's financial sector and its ability to provide finance for all. Contributors of the Book traverse the whole spectrum of African financial systems, examining their depth and breadth and empirically evaluating their appropriateness and effectiveness to achieve inclusive financial services. - Explores the evolution of the financial sector in Africa from the pre-colonial to post-colonial era - Investigates the financial inclusion–economic growth nexus - Explores the role of financial regulation and governance in either enhancing or limiting financial inclusion - Evaluates unintended consequences of financial inclusion, including over-indebtedness and increased propensity to spend - Assesses cross-sectional evidence on the link between financial inclusion and technological developments such as the internet and mobile technology
Author | : Franklin Allen |
Publisher | : |
Total Pages | : 37 |
Release | : 2017 |
Genre | : |
ISBN | : |
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.
Author | : |
Publisher | : |
Total Pages | : 37 |
Release | : 2014 |
Genre | : Economic development |
ISBN | : |
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.
Author | : Adrian Alter |
Publisher | : International Monetary Fund |
Total Pages | : 31 |
Release | : 2015-11-09 |
Genre | : Business & Economics |
ISBN | : 1513570188 |
This paper examines financial inclusion and development in the CEMAC. We explore the level of financial inclusion in the CEMAC through a benchmarking exercise.We construct a measure of financial development gap and analyze its determinants. Using panel data regressions, we find that inflation, income, and natural resources explain most of the financial development level but that better financial sector governance and stronger economic governance are positively associated with financial sector development. Richer and poorer countries can be equally far from their expected financial development levels. Finally, we use a benchmarking exercise to identify countries that have successfully reduced the financial development gap and propose policy measures that CEMAC countries could use to boost financial inclusion.
Author | : Mr.Amadou N Sy |
Publisher | : International Monetary Fund |
Total Pages | : 61 |
Release | : 2019-02-14 |
Genre | : Business & Economics |
ISBN | : 1484385667 |
FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Author | : Onkokame Mothobi |
Publisher | : |
Total Pages | : 2 |
Release | : 2018 |
Genre | : |
ISBN | : |
Mobile money can potentially contribute to the well-being of people at the bottom of the pyramid by providing them with the necessary platforms to access financial services. The mobile money platforms allow individuals to send, receive or save money in their mobile money wallet, services which they cannot access in the formal banking system. However, there is a shortage of evidence on the impact of these services on issues relating to financial inclusion, such as the ability to smooth consumption on the poor, making it impossible to derive evidence-based policies. Supply-side data is generally limited, as it is impossible to discern crucial estimates, such as age, gender and income, which are crucial to the development of policies. We use an After Access Survey that collects information on access and use of ICTs in seven African countries, in 2017.Our results suggest that mobile money services are more likely to be used by individuals who have no access to bank account. Supporting the notion that these services provide the poor with services that formal banks cannot offer. We find that individuals who live in households that have a relative who migrated to other places in the country are more likely to use mobile money services. Relatively wealthier and the employed individuals are more likely to transfer money to their dependents using mobile money services. At a local level, mobile money can be seen as a tool to drive financial inclusion, but it only allows users to make transactions and does not allow consumers to borrow for consumption smoothing.
Author | : Goksu Aslan |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 2017-11-07 |
Genre | : Business & Economics |
ISBN | : 1484328728 |
We investigate the link between gender inequality in financial inclusion and income inequality, with three contributions to the recent literature. First, using a micro-dataset covering 146,000 individuals in over 140 countries, we construct novel, synthetic indices of the intensity of financial inclusion at the individual and country level. Second, we derive the distribution of individual financial access “scores” across countries to document a “Kuznets”-curve in financial inclusion. Third, cross-country regressions confirm that our measure of inequality in financial access is significantly related to income inequality, above and beyond other factors previously highlighted in the literature.
Author | : Dana T. Redford |
Publisher | : Emerald Group Publishing |
Total Pages | : 304 |
Release | : 2022-01-26 |
Genre | : Business & Economics |
ISBN | : 1802620532 |
Transforming Africa: How Savings Groups Foster Financial Inclusion, Resilience and Economic Development presents in-depth empirical research into current day savings group activities across Africa, exploring savings groups through the lens of financial inclusion and reflecting on formal finance, economic and social outcomes.