Dynamic Panel Systems, Financial Inclusion, Generalized Method of Moments (GMM) and Institutions
The paper examines the determinants of financial inclusion by specially accounting for the role of institutions in a panel of eighteen (18) subSaharan Africa (SSA) countries using a dynamic system of Generalized Method of Moments (SYS-GMM). The emanated findings consistently stress the importance of institutions together with other control variables like GDP per capita, inflation, bank concentration and z-score as key drivers of FI. In the final analysis, the paper emphasizes the importance of using dimension by dimension indicators of governance as well as a composite governance index instead of relying solely on the latter as a basis of informing policy decisions as both yield different policy outcomes.
CBN Journal of Applied Statistics
Ajide, Kazeem B.
"Determinants of Financial Inclusion in Sub-Saharan Africa Countries: does institutional infrastructure matter?,"
CBN Journal of Applied Statistics (JAS): Vol. 8
, Article 4.
Available at: https://dc.cbn.gov.ng/jas/vol8/iss2/4