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This paper investigates the role of institutional infrastructures in the financial inclusion‐growth nexus for a panel of 20 countries in sub‐Sahara Africa (SSA). Employing the System Generalized Method of Moments (GMM), the following insightful outcomes are established. First, while there is an unrestricted positive impact of physical access to ATMs and ICT measures of financial inclusion on SSA's growth, only the former was found significant. Second, the four institutional components via economic, political, institutional and general governances were also found to be growth‐spurring. Lastly, countries with low levels of real per capita income are catching=up with other countries with high levels of real income per capita. The empirical evidence of some negative net effects and insignificant marginal impacts are indications that imperfections in the financial markets are sometimes employed to the disadvantage of the poor. On the whole, we established positive effects on growth for the most part. The positive effects are evident because the governance indicators complement financial inclusion in reducing pecuniary constraints hindering credit access and allocation to the poor that deteriorate growth. [ABSTRACT FROM AUTHOR]

Purpose: This study investigates the role of financial access in moderating the effect of governance on insurance consumption in 42 sub-Saharan African countries using data for the period 2004–2014. Design/methodology/approach: Two life insurance indicators are used, notably: life insurance and non-life insurance. Six governance measurements are also used, namely: political stability, 'voice and accountability', government effectiveness, regulation quality, corruption-control and the rule of law. The empirical evidence is based on the Generalised Method of Moments (GMM) and Least Squares Dummy Variable Corrected (LSDVC) estimators. Findings: Estimations from the LSDVC are not significant while the following main findings are established from the GMM. First, financial access promotes life insurance through channels of political stability, 'voice and accountability', government effectiveness, the rule of law and corruption-control. Second, financial access also stimulates non-life insurance via governance mechanisms of political stability, 'voice and accountability', government effectiveness, regulation quality, the rule of law and corruption-control. Originality/value: This research complements the sparse literature on insurance promotion in Africa by engaging the hitherto unexplored role of financial access through governance channels. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to investigate the role of inclusive human development and military expenditure in modulating the effect of terrorism on governance. Design/methodology/approach: It is based on 53 African countries for the period 1998–2012 and interactive generalised method of moments is employed. Six governance indicators from the World Bank and two terrorism variables are used, namely, domestic and transnational terrorism dynamics. Findings: The following main findings are established. There is a negative net effect on governance (regulation quality and corruption-control) when inclusive human development is used to reduce terrorism. There is a positive net impact on governance (voice and accountability and rule of law) when military expenditure is used to reduce domestic terrorism. Originality/value: The authors have complemented the sparse literature on the use of policy variables to mitigate the effect of policy syndromes on macroeconomic outcomes. [ABSTRACT FROM AUTHOR]

The debate on the need for Sub-Saharan African (SSA) countries to increase female participation in the economic sector has intensified the coming into force of the African Continental Free Trade Area (AfCFTA) and good governance. This study investigates the joint effects of governance (comprising of political, economic and institutional governance) and trade openness on female economic participation in SSA. The study employs panel data of 42 countries in SSA for the period 1996–2020. The empirical strategy is the dynamic System Generalized Method of Moments (SGMM) estimation technique. The findings reveal that the single effect of trade openness on female economic participation is necessary but not sufficient. Hence, complementing trade openness with good governance further enhances female economic participation in SSA. In general, the joint effect of trade openness and good governance should be a concern for policy makers to promote female economic inclusion. [ABSTRACT FROM AUTHOR]