Financial development and income inequality in Africa

Index

Abstract

This study empirically examines how financial development affects income inequality in Africa, considering access, depth, efficiency, and stability. Using the system generalized method of moments (SGMM), the findings show that access, stability, and efficiency reduce inequality, while depth exacerbates it. Policymakers should address all dimensions of financial development for economic progress.

Publisher

Humanities and Social Sciences Communications

Published On

Jun 08, 2023

Authors

Victoria I. Okafor, Isaiah O. Olurinola, Ebenezer Bowale, Romanus Osabohien

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