The heterogeneous effects of macroeconomic and financial factors on financial deepening in Africa: evidence from a method of moments quantile regression analysis
- Sanga, Bahati, Aziakpono, Meshach J
- Authors: Sanga, Bahati , Aziakpono, Meshach J
- Date: 2025
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/469930 , vital:77308 , https://www.emerald.com/insight/content/doi/10.1108/jfep-07-2023-0199/full/html
- Description: This paper aims to investigate the heterogeneous effects of macroeconomic and financial factors across various distributions of financial deepening in 22 African countries over the past two decades (2000–2019). The paper uses a recent method of moments quantile regression, which accounts for the often overlooked heterogeneity effects. The analysis focuses on the banking sector, which is predominant in Africa, using a broad range of macroeconomic and financial indicators.
- Full Text:
- Date Issued: 2025
- Authors: Sanga, Bahati , Aziakpono, Meshach J
- Date: 2025
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/469930 , vital:77308 , https://www.emerald.com/insight/content/doi/10.1108/jfep-07-2023-0199/full/html
- Description: This paper aims to investigate the heterogeneous effects of macroeconomic and financial factors across various distributions of financial deepening in 22 African countries over the past two decades (2000–2019). The paper uses a recent method of moments quantile regression, which accounts for the often overlooked heterogeneity effects. The analysis focuses on the banking sector, which is predominant in Africa, using a broad range of macroeconomic and financial indicators.
- Full Text:
- Date Issued: 2025
FinTech developments and their heterogeneous effect on digital finance for SMEs and entrepreneurship: evidence from 47 African countries
- Sanga, Bahati, Aziakpono, Meshach J
- Authors: Sanga, Bahati , Aziakpono, Meshach J
- Date: 2024
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/469868 , vital:77302 , https://www.emerald.com/insight/content/doi/10.1108/jeee-09-2023-0379/full/html
- Description: Lack of access to finance is a major constraint to the growth of small and medium-sized enterprises (SMEs) and entrepreneurship in developing countries. The recent proliferation of mobile phone services, access to the internet and emerging technologies has led to a surge in the use of FinTech in Africa and is transforming the financial sector. This paper aims to examine whether FinTech developments heterogeneously contribute to the growth of digital finance for SMEs and entrepreneurship in 47 African countries from 2013 to 2020. The paper uses a novel method of moments quantile regression, which deals with heterogeneity and endogeneity in diverse conditions for asymmetric and nonlinear models.
- Full Text:
- Date Issued: 2024
- Authors: Sanga, Bahati , Aziakpono, Meshach J
- Date: 2024
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/469868 , vital:77302 , https://www.emerald.com/insight/content/doi/10.1108/jeee-09-2023-0379/full/html
- Description: Lack of access to finance is a major constraint to the growth of small and medium-sized enterprises (SMEs) and entrepreneurship in developing countries. The recent proliferation of mobile phone services, access to the internet and emerging technologies has led to a surge in the use of FinTech in Africa and is transforming the financial sector. This paper aims to examine whether FinTech developments heterogeneously contribute to the growth of digital finance for SMEs and entrepreneurship in 47 African countries from 2013 to 2020. The paper uses a novel method of moments quantile regression, which deals with heterogeneity and endogeneity in diverse conditions for asymmetric and nonlinear models.
- Full Text:
- Date Issued: 2024
FinTech and SMEs financing: A systematic literature review and bibliometric analysis
- Sanga, Bahati, Aziakpono, Meshach J
- Authors: Sanga, Bahati , Aziakpono, Meshach J
- Date: 2023
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/469857 , vital:77301 , https://doi.org/10.1016/j.digbus.2023.100067
- Description: Small and medium-sized enterprises (SMEs) face obstacles in raising capital and accessing financial services due to information asymmetry, high transaction costs and lack of collateral. FinTech developments have made gathering and sharing information easier, changed how funds are mobilized and allocated, and increased capital-raising activities. This paper conducts a systematic literature review on FinTech and SME financing for the period 2008–2022. So far there are unstructured and separate publications on this topic. Therefore, there is a need to consolidate the empirical research and their findings on the effectiveness of FinTech in meeting SMEs' financing needs. The bibliometric findings show that few studies on FinTech and SME financing are empirical in nature. These empirical studies surged a decade later after FinTech 3.0 started in 2008, with the majority of them using quantitative methods based on data from surveys and FinTech platforms. Furthermore, emerging alternative digital financing to SMEs have attracted more empirical studies than those on FinTech and bank lending to SMEs. In terms of publications, China is dominating, followed by the United States. The content analysis shows that FinTech has increased the ability of financial and non-financial institutions to collect and process accurate information about SMEs, thus reducing information asymmetry and transaction costs. FinTech has also increased the speed and quality of the lending cycle, from establishing an SME pipeline, collecting and processing information, to loan screening, monitoring and repayment. Finally, the paper presents research gaps and areas for future studies, challenges and policy recommendations on this novel subject.
- Full Text:
- Date Issued: 2023
- Authors: Sanga, Bahati , Aziakpono, Meshach J
- Date: 2023
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/469857 , vital:77301 , https://doi.org/10.1016/j.digbus.2023.100067
- Description: Small and medium-sized enterprises (SMEs) face obstacles in raising capital and accessing financial services due to information asymmetry, high transaction costs and lack of collateral. FinTech developments have made gathering and sharing information easier, changed how funds are mobilized and allocated, and increased capital-raising activities. This paper conducts a systematic literature review on FinTech and SME financing for the period 2008–2022. So far there are unstructured and separate publications on this topic. Therefore, there is a need to consolidate the empirical research and their findings on the effectiveness of FinTech in meeting SMEs' financing needs. The bibliometric findings show that few studies on FinTech and SME financing are empirical in nature. These empirical studies surged a decade later after FinTech 3.0 started in 2008, with the majority of them using quantitative methods based on data from surveys and FinTech platforms. Furthermore, emerging alternative digital financing to SMEs have attracted more empirical studies than those on FinTech and bank lending to SMEs. In terms of publications, China is dominating, followed by the United States. The content analysis shows that FinTech has increased the ability of financial and non-financial institutions to collect and process accurate information about SMEs, thus reducing information asymmetry and transaction costs. FinTech has also increased the speed and quality of the lending cycle, from establishing an SME pipeline, collecting and processing information, to loan screening, monitoring and repayment. Finally, the paper presents research gaps and areas for future studies, challenges and policy recommendations on this novel subject.
- Full Text:
- Date Issued: 2023
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