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 betwee...

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Main Authors:	Allen, Franklin, Carletti, Elena, Cull, Robert, Qian, Jun, Senbet, Lemma, Valenzuela, Patricio
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank Group, Washington, DC 2014
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 http://hdl.handle.net/10986/20341

id	okr-10986-20341
recordtype	oai_dc
spelling	okr-10986-203412021-04-23T14:03:55Z The African Financial Development and Financial Inclusion Gaps Allen, Franklin Carletti, Elena Cull, Robert Qian, Jun Senbet, Lemma Valenzuela, Patricio 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 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. 2014-10-02T20:24:22Z 2014-10-02T20:24:22Z 2014-09 http://documents.worldbank.org/curated/en/2014/09/20167905/african-financial-development-financial-inclusion-gaps http://hdl.handle.net/10986/20341 English en_US Policy Research Working Paper;No. 7019 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Group, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Africa Africa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	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
spellingShingle	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 Allen, Franklin Carletti, Elena Cull, Robert Qian, Jun Senbet, Lemma Valenzuela, Patricio The African Financial Development and Financial Inclusion Gaps
geographic_facet	Africa Africa
relation	Policy Research Working Paper;No. 7019
description	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.
format	Publications & Research :: Policy Research Working Paper
author	Allen, Franklin Carletti, Elena Cull, Robert Qian, Jun Senbet, Lemma Valenzuela, Patricio
author_facet	Allen, Franklin Carletti, Elena Cull, Robert Qian, Jun Senbet, Lemma Valenzuela, Patricio
author_sort	Allen, Franklin
title	The African Financial Development and Financial Inclusion Gaps
title_short	The African Financial Development and Financial Inclusion Gaps
title_full	The African Financial Development and Financial Inclusion Gaps
title_fullStr	The African Financial Development and Financial Inclusion Gaps
title_full_unstemmed	The African Financial Development and Financial Inclusion Gaps
title_sort	african financial development and financial inclusion gaps
publisher	World Bank Group, Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2014/09/20167905/african-financial-development-financial-inclusion-gaps http://hdl.handle.net/10986/20341
_version_	1764445080088739840

The African Financial Development and Financial Inclusion Gaps

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