Financial Inclusion and Development in the CEMAC
November 9, 2015
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Summary
This paper examines financial inclusion and development in the CEMAC. We explore the level of financial inclusion in the CEMAC through a benchmarking exercise.We construct a measure of financial development gap and analyze its determinants. Using panel data regressions, we find that inflation, income, and natural resources explain most of the financial development level but that better financial sector governance and stronger economic governance are positively associated with financial sector development. Richer and poorer countries can be equally far from their expected financial development levels. Finally, we use a benchmarking exercise to identify countries that have successfully reduced the financial development gap and propose policy measures that CEMAC countries could use to boost financial inclusion.
Subject: Economic sectors, Financial inclusion, Financial markets, Financial sector, Financial sector development, Financial services, National accounts, Personal income
Keywords: Africa, benchmark, benchmarking, CEMAC, CEMAC country, CEMAC relative, CFA franc, cost-income ratio, environment household, financial development gap, financial inclusion, Financial sector, Financial sector development, GDP ratio, Global, income, natural resource GDP, Personal income, poverty, ratio, return on assets, SSA economy, Sub-Saharan Africa, WP
Pages:
31
Volume:
2015
DOI:
Issue:
235
Series:
Working Paper No. 2015/235
Stock No:
WPIEA2015235
ISBN:
9781484317556
ISSN:
1018-5941
