Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/123536
Authors: 
Asongu, Simplice A.
Year of Publication: 
2011
Series/Report no.: 
AGDI Working Paper WP/11/020
Abstract: 
This paper focuses on how political regimes affect financial development in Africa, contingent on religious-domination, income-levels and colonial-legacies. The main findings are summarized as follows. Authoritarian regimes have a higher propensity to effect policies that favour the development of financial intermediary depth, activity and size. Democracy has important effects on the degree of competition for public offices but less significant effects in comparison with autocracy on policies towards financial development. As a policy implication, once democracy is initiated, it should be accelerated (to edge the appeals of authoritarian regimes) and reap the benefits of level and time hypotheses in financial development.
Subjects: 
Banking
Finance
Politics
Democracy
Development
JEL: 
E40
E50
O10
P16
P50
Document Type: 
Working Paper

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