External publications

Financial inclusion and economic growth: evidence from a panel of selected African countries

Makina, Daniel / Yabibal M. Walle
External Publications (2019)

in: Daniel Makina (ed.), Extending financial inclusion in Africa, London: Academic Press, 193-210

ISBN: 978-0-12-814164-9
Information

This study is one of the few to investigate the relationship between financial inclusion and macroeconomic growth against the odds of non-availability of long-dated time-series data on indicators of financial inclusion. Unlike other studies, it is unique in that it solely focusses on Africa, a continent with the lowest financial inclusion level in the world. Despite long-dated time-series data constraints, the study finds that financial inclusion – as measured by the dimension of access – has a significantly positive effect on economic growth in Africa. The finding reinforces the need for greater efforts to pursue the financial inclusion agenda as one of the most effective tools for realizing inclusive growth.