logo
ResearchBunny Logo
Financial development and income inequality in Africa

Economics

Financial development and income inequality in Africa

V. I. Okafor, I. O. Olurinola, et al.

This study investigates the impact of financial development on income inequality in Africa, revealing that access, stability, and efficiency contribute to reducing inequality, while depth is a complicating factor. The authors, Victoria I. Okafor, Isaiah O. Olurinola, Ebenezer Bowale, and Romanus Osabohien, emphasize the need for policymakers to consider all dimensions of financial development for sustainable economic growth.

00:00
00:00
Playback language: English
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
Tags
financial development
income inequality
Africa
policymakers
economic progress
access
efficiency

Related Publications

Explore these studies to deepen your understanding of the subject.

Bridging the financial divide: a bibliometric analysis on the role of digital financial services within FinTech in enhancing financial inclusion and economic development
Business

Bridging the financial divide: a bibliometric analysis on the role of digital financial services within FinTech in enhancing financial inclusion and economic development

M. Afjal

Rice availability and stability in Africa under future socio-economic development and climatic change
Agriculture

Rice availability and stability in Africa under future socio-economic development and climatic change

K. D. Vos, C. Janssens, et al.

Trade openness, economic growth and economic development nexus in South Africa: a pre- and post-BRICS analysis
Economics

Trade openness, economic growth and economic development nexus in South Africa: a pre- and post-BRICS analysis

M. N. Monyela and C. S. Saba

Institutional quality, foreign direct investment, and economic development in sub-Saharan Africa
Economics

Institutional quality, foreign direct investment, and economic development in sub-Saharan Africa

F. B. Adegboye, R. Osabohien, et al.

Listen, Learn & Level Up
Over 10,000 hours of research content in 25+ fields, available in 12+ languages.
No more digging through PDFs, just hit play and absorb the world's latest research in your language, on your time.
listen to research audio papers with researchbunny