Financial inclusion and monetary policy in West Africa / Sa’ad Babatunde Akanbi … [et al.]

Akanbi, Sa’ad Babatunde and Dauda, Ridwan Olamilekan and Yusuf, Hammed Agboola and Abdulrahman, Abdulganiyu Idris (2020) Financial inclusion and monetary policy in West Africa / Sa’ad Babatunde Akanbi … [et al.]. Journal of Emerging Economies & Islamic Research, 8 (2). pp. 1-12. ISSN 2289-2559

Abstract

The study investigated the impact of financial inclusion on the effectiveness of monetary policy in West Africa for the period 2005 to 2018. The study employed Granger panel non-causality test developed by Dumitrescu and Hurlin to determine the direction of causality between inflation (a proxy for monetary policy) and indicators of financial inclusion. The system GMM was also employed to investigate the impact of each indicator of financial inclusion on monetary policy. The results show that financial inclusion is a significant determinant of monetary policy. The study concludes that financial inclusion should be broadened to include a large number of economic agents in the rural areas and informal sector because a large volume of financial transactions takes place within this sector.

Metadata

Item Type: Article
Creators:
Creators
Email / ID Num.
Akanbi, Sa’ad Babatunde
UNSPECIFIED
Dauda, Ridwan Olamilekan
UNSPECIFIED
Yusuf, Hammed Agboola
UNSPECIFIED
Abdulrahman, Abdulganiyu Idris
UNSPECIFIED
Subjects: H Social Sciences > HG Finance > Monetary policy
H Social Sciences > HG Finance > Monetary policy > Malaysia
Divisions: Universiti Teknologi MARA, Selangor > Puncak Alam Campus > Faculty of Business and Management
Journal or Publication Title: Journal of Emerging Economies & Islamic Research
UiTM Journal Collections: UiTM Journal > Journal of Emerging Economies and Islamic Research (JEEIR)
ISSN: 2289-2559
Volume: 8
Number: 2
Page Range: pp. 1-12
Keywords: Financial inclusion, Monetary policy, Inflation, Informal sector
Date: May 2020
URI: https://ir.uitm.edu.my/id/eprint/32109
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32109

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