Journal Article

The African Financial Development and Financial Inclusion Gaps

Franklin Allen, Elena Carletti, Robert Cull, Jun ‘QJ’ Qian, Lemma Senbet and Patricio Valenzuela

in Journal of African Economies

Volume 23, issue 5, pages 614-642
Published in print November 2014 | ISSN: 0963-8024
Published online June 2014 | e-ISSN: 1464-3723 | DOI: https://dx.doi.org/10.1093/jae/eju015
The African Financial Development and Financial Inclusion Gaps

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  • Financial Institutions and Services
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This paper investigates the African financial development and financial inclusion gaps relative to other peer developing countries. Using a set of variables related to financial development and inclusion, we first estimate the gaps between African countries and other developing countries with similar degrees of economic development. Then, we explore the determinants of financial development and inclusion. We find that population density is considerably more important for financial development and inclusion in Africa than elsewhere. Finally, we show evidence that a recent innovation in financial services, mobile banking, has helped to overcome infrastructural problems and improve financial access.

Keywords: financial development; financial inclusion; development gaps; Africa; G2; O1; R2

Journal Article.  8314 words.  Illustrated.

Subjects: Financial Institutions and Services ; Household Analysis ; Economic Development

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