Promoting Financial Inclusivity, a Route to Economic Growth: An Empirical Analysis from Sub-Saharan African Countries

Authors

Sulayman Jallow, KIIT Deemed to be University, IndiaFollow
Pradipta Kumar Sahoo, Narasingh Choudhury Autonomous College, Jajpur (Utkal University), IndiaFollow
Bamadev Mahapatra, Biju Patnaik University of Technology, IndiaFollow

Document Type

Call for Paper

Abstract

The present study deep dives into the relationship between financial inclusion and per capita income growth of 42 sub-Saharan African countries from 2007 to 2020. With the help of the generalized method of moments (GMM) modeling framework, the study discloses that a rise in the number of bank branches, automated teller machines, and savings stimulates per capita economic growth. Conversely, an elevated number of credit provisions to the private sector and high growth of population hinder per capita economic growth. The policy recommendation is for banking authorities to expand their services to underserved areas, raise interest rates on deposits, and decrease credit provision to the private sector

Recommended Citation

Jallow, Sulayman; Sahoo, Pradipta Kumar; and Mahapatra, Bamadev (2024) "Promoting Financial Inclusivity, a Route to Economic Growth: An Empirical Analysis from Sub-Saharan African Countries," Bulletin of Monetary Economics and Banking: Vol. 27: No. 0, Article 5.
DOI: https://doi.org/10.59091/2460-9196.2159
Available at: https://bulletin.bmeb-bi.org/bmeb/vol27/iss0/5

First Page

59

Last Page

74

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License

Country

India

Affiliation

N.C. Autonomous College (Utkal University) Odisha, Higher Education Department