@workingpaper{Nwachukwu2015b,
title = {Finance and Inclusive Human Development: Evidence from Africa},
author = {Jacinta Nwachukwu C Simplice A. Asongu},
editor = {African 2015 Governance and Development Institute WP/15/061},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Finance-and-Inclusive-Human-Development.pdf},
year = {2015},
date = {2015-12-01},
abstract = {This study investigates direct and indirect linkages between financial development and inclusive
human development in data panels for African countries using a battery of estimation techniques,
notably: Two-Stage Least Squares, Fixed Effects, Generalized Method of Moments and Tobit
regressions. The dependent variable is the inequality adjusted human development index. All
dimensions of the Financial Development and Structure Database (FDSD) of the World Bank are
considered. The main finding is that financial dynamics of depth, activity and size improve
inclusive human development, whereas the inability of banks to transform mobilized deposits
into credit for financial access negatively affects inclusive human development. Policy
implications are discussed in the light of fighting surplus liquidity and providing information
sharing offices (like public credit registries and private credit bureaus) that would reduce
information asymmetry between lenders and borrowers.},
keywords = {Banking; human development; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}