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The study investigated the impact of information and communication technology (ICT) and energy consumption on financial development in Africa using dynamic generalised methods of moments with secondary annual data spanning from 2001 to 2015. Literature is unanimous that ICT and energy consumption separately contributes towards financial development although there are so far scarce case studies which focused on the African continent. When domestic credit to private sector (% of GDP) was used as a measure of financial development, ICT and energy consumption were found to had a non-significant negative influence on financial development, a finding that contradicts majority of literature on the subject matter.
Nội dung trích xuất từ tài liệu:
Information and communication technology, energy consumption and financial development in Africa
