HomeDespre ECTAEventsPolitica editorialaTrimite un articolParteneri / link-uri utileArchiveAbonamentContact

ISSN 1841-8678   (print)
ISSN 1844-0029   (online)


Archive ECTAP

Note: for the period 1994-2003 the archive of the magazine will not be available online

Supplements ECTAP

If you cannot open the pdf file you need Adobe Reader.
download Adobe Reader

Creative Commons License

Theoretical and Applied Economics
No. 4 / 2022 (633), Winter

Financial inclusion in sub-Saharan Africa: Benchmarking against peer developing countries

Mahamat Ibrahim AHMAT-TIDJANI
University of N’Djaména, Tchad; Félix Houphouët-Boigny University, Abidjan, Côte d’Ivoire
Brou Emmanuel AKA
Félix Houphouët-Boigny University, Abidjan, Côte d’Ivoire

Abstract. This paper empirically investigates the financial inclusion gap in sub-Saharan Africa (SSA) relative to peer developing countries using the two-stage instrumental variable estimation over the period 2011-2017. The results are two-fold. First, there are positive and significant gaps in bank account, mobile money and savings in SSA, and insignificant gaps in loans. The magnitudes of the gaps vary between 0.6 ~ 0.7, 1.3 ~ 1.7 and 9.1 ~ 17.1 percentage points, respectively. Second, private credit, real GDP per capita, population density, inflation and government effectiveness appear to be the driving factors of financial inclusion in the full sample of developing countries. Whilst, oil rents, education and bank concentration are the most important factors explaining financial inclusion in SSA.

Keywords: benchmark model, financial inclusion gap, SSA, developing countries.

Download the full article:  


Open acces




The Economicity. The Epistemic Landscape, Marin Dinu, 2016


ISSN 1841-8678 (ediția print) / ISSN 1844-0029 (ediția online)
© Copyright Asociația Generală a Economiștilor din România / Editura Economică
Redacția: Oficiul poștal 18, Ghișeul 3 - Căsuța poștală 31, București 014820, E-mail:

© 2006-2024 Theoretical and Applied Economics