@workingpaper{Asongu2011bm,
title = {Financial Determinants of Human Development in Developing Countries},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/012},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Financial-determinants-of-human-development-in-Africa.pdf},
year = {2011},
date = {2011-10-01},
abstract = {Hitherto financial drivers of human development have been unexplored by the UNDP.
This paper assesses determinants of human development from financial dynamics of depth,
efficiency, size and activity on data from 38 developing countries. While the importance of
financial activity, size and depth (in decreasing order) is significant for inequality adjusted
human development, financial allocation efficiency significantly undermines welfare. As a
policy implication results do not support financial allocation efficiency as a driver of human
development.},
keywords = {Banking; human development; developing countries; instrumental variables},
pubstate = {published},
tppubtype = {workingpaper}
}