Colonial origins and growth of financial markets in Africa: A comparative analysis based on institutions
This paper studies the effect of settlement and mortality on the growth of African financial markets using the mediation of institutions over the period 1996–2017. A comparative result is based on two types of data bases. Firstly, the Acemoglu et al.’s (2001) database and the Albouy's (2006) da...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-01-01
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| Series: | Journal of Government and Economics |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S266731932400003X |
| _version_ | 1797353592017911808 |
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| author | Désiré Avom Bruno Emmanuel Ongo Nkoa Charles Christian Atangana Zambo Ulrich Kevin Kamdoum Kamwa Donald Ferdinand Okere Atanga |
| author_facet | Désiré Avom Bruno Emmanuel Ongo Nkoa Charles Christian Atangana Zambo Ulrich Kevin Kamdoum Kamwa Donald Ferdinand Okere Atanga |
| author_sort | Désiré Avom |
| collection | DOAJ |
| description | This paper studies the effect of settlement and mortality on the growth of African financial markets using the mediation of institutions over the period 1996–2017. A comparative result is based on two types of data bases. Firstly, the Acemoglu et al.’s (2001) database and the Albouy's (2006) database. Two samples including 29 for the settler mortality rate and 33 for the settler rate have been chosen. Applying ordinary least squares (OLS) regression, we find that institutions exert a negative and significant influence on financial market growth in African countries where settler mortality rates were high while in countries where settlers settled, the interaction effect of settler sedentarization rate and institutions is positive and significant. These results remain robust to several tests conducted. As a key recommendation, we suggest that African governments put in place new institutional governance policies that take into account the current economic context to further improve the growth of their financial markets. |
| first_indexed | 2024-03-08T13:33:15Z |
| format | Article |
| id | doaj.art-4826e1e2fcd44fe38c550b89bfc0a1e1 |
| institution | Directory Open Access Journal |
| issn | 2667-3193 |
| language | English |
| last_indexed | 2024-03-08T13:33:15Z |
| publishDate | 2024-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Government and Economics |
| spelling | doaj.art-4826e1e2fcd44fe38c550b89bfc0a1e12024-01-17T04:17:22ZengElsevierJournal of Government and Economics2667-31932024-01-0113100099Colonial origins and growth of financial markets in Africa: A comparative analysis based on institutionsDésiré Avom0Bruno Emmanuel Ongo Nkoa1Charles Christian Atangana Zambo2Ulrich Kevin Kamdoum Kamwa3Donald Ferdinand Okere Atanga4University of Yaoundé II, CameroonUniversity of Yaoundé II, Cameroon; Corresponding author.University of Ngaoundéré, CameroonInternational University of Libreville (UIL), GabonUniversity of Dschang, CameroonThis paper studies the effect of settlement and mortality on the growth of African financial markets using the mediation of institutions over the period 1996–2017. A comparative result is based on two types of data bases. Firstly, the Acemoglu et al.’s (2001) database and the Albouy's (2006) database. Two samples including 29 for the settler mortality rate and 33 for the settler rate have been chosen. Applying ordinary least squares (OLS) regression, we find that institutions exert a negative and significant influence on financial market growth in African countries where settler mortality rates were high while in countries where settlers settled, the interaction effect of settler sedentarization rate and institutions is positive and significant. These results remain robust to several tests conducted. As a key recommendation, we suggest that African governments put in place new institutional governance policies that take into account the current economic context to further improve the growth of their financial markets.http://www.sciencedirect.com/science/article/pii/S266731932400003XAfricaColonizationFinancials marketsInstitutionsInteractionOLS |
| spellingShingle | Désiré Avom Bruno Emmanuel Ongo Nkoa Charles Christian Atangana Zambo Ulrich Kevin Kamdoum Kamwa Donald Ferdinand Okere Atanga Colonial origins and growth of financial markets in Africa: A comparative analysis based on institutions Journal of Government and Economics Africa Colonization Financials markets Institutions Interaction OLS |
| title | Colonial origins and growth of financial markets in Africa: A comparative analysis based on institutions |
| title_full | Colonial origins and growth of financial markets in Africa: A comparative analysis based on institutions |
| title_fullStr | Colonial origins and growth of financial markets in Africa: A comparative analysis based on institutions |
| title_full_unstemmed | Colonial origins and growth of financial markets in Africa: A comparative analysis based on institutions |
| title_short | Colonial origins and growth of financial markets in Africa: A comparative analysis based on institutions |
| title_sort | colonial origins and growth of financial markets in africa a comparative analysis based on institutions |
| topic | Africa Colonization Financials markets Institutions Interaction OLS |
| url | http://www.sciencedirect.com/science/article/pii/S266731932400003X |
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