Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/316134 
Year of Publication: 
2025
Citation: 
[Journal:] Review of Economics and Political Science (REPS) [ISSN:] 2631-3561 [Volume:] 10 [Issue:] 1 [Year:] 2025 [Pages:] 69-86
Publisher: 
Emerald, Bingley
Abstract: 
Purpose - This paper investigates whether financial sector development promotes economic globalization (EG) using data from 45 African countries. Design/methodology/approach - Using panel data of the selected African countries, the two-step system generalized method of moments estimation technique which is capable of solving any possible endogeneity problem is employed for the empirical analysis. Findings - The main finding is that all measures of financial sector development have a significant positive impact on EG in Africa. The results suggest that improving the financial sector development in a holistic manner is key in fostering EG in Africa. Originality/value - This present paper uses broader measures of EG and financial sector development. Using broader measures of these variables widens the policy scope in terms of policy adoption and implementation.
Subjects: 
Africa
Economic globalization
Financial globalization
Financial sector development
Trade globalization
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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