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Mobile Money, ICT, Financial Inclusion and Growth- How Different is Africa- Accepted copy.pdf (937.11 kB)

Mobile money, ICT, financial inclusion and growth: How different is Africa?

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journal contribution
posted on 2023-02-06, 11:14 authored by Ahmad Hassan AhmadAhmad Hassan Ahmad, Christopher Green, Fei Jiang, Victor Murinde

We investigate the contributions of fixed and mobile telecommunications (ICT) and mobile money to economic growth and financial inclusion in a 22-year panel of 146 countries. We extend the Solow growth model to include human capital, money, ICT, and mobile money, splitting the sample into sub-Saharan Africa (SSA) and the rest of the world (RoW) in addition to the whole sample analysis. We find mobile money affects economic growth through direct and indirect channels. Mobile money has a significant overall positive impact on growth, especially in countries with better mobile phone penetration and more dispersed populations. But its total quantitative effect is not large. Mobile money also tends to improve financial inclusion which in turn promotes growth. There are important differences between the SSA and RoW parameters, implying that the quantitative determinants of growth are different to some extent as between SSA and RoW.

Funding

Delivering Inclusive Financial Development and Growth

Economic and Social Research Council

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History

School

  • Business and Economics

Department

  • Economics

Published in

Economic Modelling

Volume

121

Publisher

Elsevier

Version

  • AM (Accepted Manuscript)

Rights holder

© Elsevier

Publisher statement

This paper was accepted for publication in the journal Economic Modelling and the definitive published version is available at https://doi.org/10.1016/j.econmod.2023.106220

Acceptance date

2023-01-26

Publication date

2023-02-01

Copyright date

2023

ISSN

0264-9993

eISSN

1873-6122

Language

  • en

Depositor

Dr Ahmad Hassan Ahmad. Deposit date: 3 February 2023

Article number

106220

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