Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/244193 
Year of Publication: 
2021
Series/Report no.: 
AGDI Working Paper No. WP/21/018
Publisher: 
African Governance and Development Institute (AGDI), Yaoundé
Abstract: 
This paper aims to investigate the effect of financial development on economic complexity using a panel dataset of 24 African countries over the period 1983-2017. The empirical evidence is based on two different approaches. First, we adopt the Hoechle (2007) procedure which produces Driscoll-Kraay standard errors to account for heteroscedasticity and cross-sectional dependence. Second, we implement the system Generalized Method of Moments to account for endogeneity. The results show that financial development increases economic complexity in Africa. Looking at the regional difference, the results show that this effect is less beneficial for SSA countries.
Subjects: 
Financial development
Economic complexity
Panel data analysis
Africa
JEL: 
G20
G24
E02
P14
O55
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.