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Financial Inclusion and Development in the CEMAC
Author:
Mr. Adrian Alter
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https://orcid.org/0000-0003-4752-4808
and
Boriana Yontcheva null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2015: Issue 235
Language:
English
Publication Date:
09 Nov 2015
DOI:
https://doi.org/10.5089/9781484317556.001
ISBN:
9781484317556
ISSN:
1018-5941
Pages:
31
Keywords:
WP; income; benchmark; CEMAC; ratio; financial inclusion; financial development gap; benchmarking; poverty; CFA franc; CEMAC country; GDP ratio; cost-income ratio; environment household; SSA economy; natural resource GDP; CEMAC relative; return on assets; Financial sector development; Financial sector; Personal income; Sub-Saharan Africa; Global; Africa
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper examines financial inclusion and development in the CEMAC. We explore the level of financial inclusion in the CEMAC through a benchmarking exercise.We construct a measure of financial development gap and analyze its determinants. Using panel data regressions, we find that inflation, income, and natural resources explain most of the financial development level but that better financial sector governance and stronger economic governance are positively associated with financial sector development. Richer and poorer countries can be equally far from their expected financial development levels. Finally, we use a benchmarking exercise to identify countries that have successfully reduced the financial development gap and propose policy measures that CEMAC countries could use to boost financial inclusion.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund