The African Financial Development and Financial Inclusion Gaps

This paper investigates the African financial development and financial inclusion gaps relative to other peer developing countries. The paper uses a set of variables related to financial development and inclusion. It first estimates the gaps between African countries and other developing countries with similar degrees of economic development. Then, it explores the determinants of financial development and inclusion. The analysis finds that population density is considerably more important for financial development and inclusion in Africa than elsewhere. Finally, the paper shows evidence that a recent innovation in financial services, mobile banking, has helped to overcome infrastructural problems and improve financial access.

Bibliographic Details

Main Authors:	Allen, Franklin, Carletti, Elena, Cull, Robert, Qian, Jun, Senbet, Lemma, Valenzuela, Patricio
Language:	English en_US
Published:	World Bank Group, Washington, DC 2014-09
Subjects:	ACCESS TO ACCOUNTS, ACCESS TO BANKING, ACCESS TO CREDIT, ACCESS TO LOANS, BANK ACCOUNT, BANK BRANCH, BANK LENDING, BANK POLICY, BANKING SECTOR, BANKING SECTOR DEVELOPMENT, BANKING SERVICE, BANKING SYSTEM, BANKS, BENCHMARK, BENCHMARKING, BENCHMARKS, BUSINESS TRANSACTIONS, CASH TRANSFER, CASH TRANSFERS, COMMERCIAL BANK, CONSUMER PRICE INFLATION, CORPORATE FINANCE, DEPOSIT, DEPOSIT INSURANCE, DEPOSIT MONEY BANKS, DEPOSITORS, DEPOSITS, DEVELOPING COUNTRIES, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICY, DOMAIN, DUMMY VARIABLE, ECONOMIC BOOM, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC RESEARCH, ECONOMIC SUCCESSES, ELECTRONIC PAYMENTS, ELECTRONIC TRANSFERS, ENROLLMENT, EXPORTS, EXTERNAL FINANCE, FACTORS OF PRODUCTION, FINANCIAL ACCESS, FINANCIAL CRISIS, FINANCIAL DEVELOPMENT, FINANCIAL FRAGILITY, FINANCIAL INNOVATIONS, FINANCIAL INSTITUTIONS, FINANCIAL INTEGRATION, FINANCIAL INTERMEDIATION, FINANCIAL MANAGEMENT, FINANCIAL MARKETS, FINANCIAL PRODUCT, FINANCIAL PRODUCTS, FINANCIAL SECTOR, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL SECTOR REFORMS, FINANCIAL SECTORS, FINANCIAL SERVICES, FINANCIAL SERVICES PROVIDERS, FINANCIAL STRUCTURE, FINANCIAL STUDIES, FINANCIAL SYSTEM, FINANCIAL TRANSACTIONS, FORMAL FINANCIAL INSTITUTION, FORMAL LOANS, GDP, GDP PER CAPITA, GOVERNANCE INDICATORS, HOUSEHOLDS, IDENTIFICATION NUMBERS, INCOME, INCOME INEQUALITY, INEQUALITY, INFLATION, INFORMAL SAVINGS, INNOVATION, INSTITUTIONAL DEVELOPMENT, INTERNATIONAL BANK, LIQUIDITY, LOAN, LOAN PAYMENTS, MACROECONOMIC VARIABLES, MANUFACTURING, MARKET DEVELOPMENT, MATERIAL, MENU, MICROFINANCE, MICROFINANCE INSTITUTIONS, MIDDLE INCOME COUNTRIES, MIDDLE-INCOME COUNTRIES, MIDDLE-INCOME ECONOMIES, MOBILE BANKING, MOBILE NETWORK, MOBILE PHONE, MOBILE PHONES, MOBILE TELEPHONE, MOBILE TELEPHONES, MONEY TRANSFERS, NATURAL RESOURCE, NATURAL RESOURCES, NET EXPORTS, OFFSHORE CENTER, OFFSHORE CENTERS, OFFSHORE FINANCIAL CENTER, OFFSHORE FINANCIAL CENTERS, OPEN ACCESS, OUTREACH, PAYMENTS SERVICES, PER CAPITA INCOME, PERSONAL IDENTIFICATION, PHONE PENETRATION, POSITIVE COEFFICIENT, PRIVACY, PRIVATE CREDIT, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRODUCT INNOVATIONS, RAPID GROWTH, REGRESSION ANALYSIS, REMITTANCES, RESERVES, RESULT, RESULTS, SAVINGS ACCOUNTS, SAVINGS MECHANISMS, SAVINGS PRODUCTS, SENSITIVITY ANALYSIS, SMART MONEY, STOCK EXCHANGES, STOCK MARKET, STOCK MARKET DEVELOPMENT, STOCK MARKETS, TECHNOLOGICAL ADVANCES, TRADITIONAL BANKING, USERS, USES, VILLAGES, WORLD DEVELOPMENT INDICATORS,
Online Access:	http://documents.worldbank.org/curated/en/2014/09/20167905/african-financial-development-financial-inclusion-gaps https://hdl.handle.net/10986/20341
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