Internet Adoption and Financial Development in Sub-Saharan Africa

Date

2020-09-09

Advisors

Journal Title

Journal ISSN

ISSN

Volume Title

Publisher

Elsevier

Type

Article

Peer reviewed

Yes

Abstract

Information and communication technology adoption (ICT), and its penetration and use, in Sub-Saharan Africa (SSA) have steadily grown since the turn of the century. Subsequently, studies have sought to investigate several of its benefits particularly on economic growth and entrepreneurial activities. Little attention has been paid to SSA, human capital development and economic freedom within studies on ICT and financial development. Using data from the Global Financial Development and the World Bank Development Indicator databases for the period 2000-2016 on 42 countries in SSA, we found evidence of the positive impact of internet use on different measures of financial development. Further analysis reveals that sub-samples of SSA countries differ on their levels of human capital development and economic freedom. Our results are robust to different estimations and specifications that account for heteroskedasticity in our sample and potential endogeneity. Implications of the study are also highlighted.

Description

The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.

Keywords

Citation

Owusu-Agyei, S., Okafor G., Chijoke-Mgbame, M., Ohalehi, P., and Hasan, F., 2020. Internet Adoption and Financial Development in Sub-Saharan Africa. Technological Forecasting and Social Change, 161, 120293

Rights

Research Institute

Institute for Applied Economics and Social Value (IAESV)