Arbeitspapier
African Financial Development Dynamics: Big Time Convergence
Purpose - Assessment of African financial development dynamic convergences in money, credit, efficiency and size. Design/Methodology - The empirical evidence is premised on 11 homogenous panels based on regions (Sub-Saharan and North Africa), income-levels (low, middle, lower-middle and upper-middle), legal-origins (English common-law and French civil-law) and religious dominations (Christianity and Islam). We examine convergence in financial intermediary dynamics of depth, efficiency, activity and size. Findings - Findings suggest that countries with small-sized financial intermediary depth, efficiency, activity and size are catching-up countries with large-sized financial intermediary depth, efficiency, activity and size respectively. We also provide the speeds of convergence and time necessary to achieve a full (100%) convergence. Practical implications - The presence of strong links among African banking sectors may present little opportunity for portfolio diversification. The convergence patterns show positive steps towards regional integration. As a policy implication, African governments should not relent in structural and institutional reforms. Originality/value - It is the first critical assessment of convergence in financial intermediary development dynamics in the African continent.
- Language
-
Englisch
- Bibliographic citation
-
Series: AGDI Working Paper ; No. WP/12/003
- Classification
-
Wirtschaft
Economic Integration
Financial Aspects of Economic Integration
International Policy Coordination and Transmission
Economywide Country Studies: Africa
Comparative Studies of Particular Economies
- Subject
-
Convergence
Policy Coordination
Banking
Africa
- Event
-
Geistige Schöpfung
- (who)
-
Asongu, Simplice A.
- Event
-
Veröffentlichung
- (who)
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African Governance and Development Institute (AGDI)
- (where)
-
Yaoundé
- (when)
-
2012
- Handle
- Last update
-
20.09.2024, 8:24 AM CEST
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Asongu, Simplice A.
- African Governance and Development Institute (AGDI)
Time of origin
- 2012
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