Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/2636
Title: ON THE MACROECONOMIC DETERMINANTS OF FINANCIAL INSTITUTIONS DEVELOPMENT IN SUB‑SAHARAN AFRICA
Authors: Aluko, Olufemi Adewale 
Ibrahim, Muazu
Keywords: Financial institutions development
Financial institutions depth
Financial institutions efficiency
Financial institutions access
Issue Date: 2019
Publisher: Springer-Verlag GmbH Germany, part of Springer Nature
Series/Report no.: Vol. 67;Issue 1
Abstract: This study investigates the macroeconomic determinants of financial institutions development in a panel of 32 countries in sub-Saharan Africa from 1985 to 2015. Using the two-step system generalized method of moments dynamic panel model estimation approach, the results reveal that trade openness, income, and government expenditure are positive determinants of financial institutions development while higher inflation inhibits improvement in financial institutions. The results suggest that financial institutions are better developed in countries with higher trade openness, income, and government expenditure and are less developed in high-inflation countries. The results are not robust to the dimensions of financial institutions development considered in this study. Policy implications are documented.
URI: http://hdl.handle.net/123456789/2636
ISSN: 1863-4613
Appears in Collections:School of Business and Law

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