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The Relevance of Financial Inclusion on Sustainable Economic Growth in Sub-Saharan African Nations

Year: 2021

Type: article

Abstract: The primary concern of this examination is to systematically survey the importance of inclusive access to finance on the growth in terms of the economy in 48 sub-Saharan African (SSA) sovereign states with periodicity from 1995 to 2017. This study reports the results using both static and dynamic estimation techniques. For consistency, the baseline finding of the study estimation is based on the Generalized Method of Moments (GMM) system GMM. This article finds that there is a complimentary association between the present degree of inclusiveness of finance and economic advancement in SSA. The suggestion deduced in this examination is that programs with the plan of comprehensive financing ought to be custom fitted to the agricultural segment of the economy to encourage more economic opportunities for development in a sustainable manner.

Source: Sustainability

DOI: 10.3390/su13105581

Authors: Menyelim M. Chima, Abiola Ayopo Babajide, Alex Adegboye, Segun Kehinde, Oluwatobi Fasheyitan

Institution: Covenant University

Language: English

Topic: Microfinance and Financial Inclusion

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Reduced inequalities

Open Access status: gold

Estimated APC paid: $2,052