The effect of financial sector development on economic growth of selectedsub‐SaharanAfrica countries
研究了2010-2017年25个撒哈拉以南非洲国家金融部门深度、可及性和效率对经济增长的正向影响，对关注金融与增长关系的学者和政策制定者有参考价值。
Abstract The effect of financial sector development on economic growth is among the main debatable issue in economics and policymaking. Thus, by using different financial sector dimensions, this research tried to look at the effect of financial sector development on the economic growth of 25 sub‐Saharan Africa countries for the period 2010–2017. Precisely, three dynamic panel data models that look at the effect of financial sector depth, access, and efficiency on economic growth were estimated by two‐step system GMM estimation. In this research, credit extended to the private sector per GDP, commercial bank branch per 100,000 adult population, and Return to assets were used as a proxy and measures for financial sector depth, access, and efficiency respectively. Accordingly, the results revealed that financial sector depth, access, and efficiency have a positive and statistically significant effect on these countries' economic growth. Therefore, it is recommended that the concerned bodies that broadening the depth of financial institutions by giving more credit to the private sector is essential. Besides, the financial institutions will have to be expanded to increase their accessibility to the mass and take some measures to promote their efficiency.