In the late 1990s, as economists looked back the development period in Africa since 1970s, they put forward the notion “African growth tragedy” , meaning that Africa's poor growth and resulting low income is associated with low schooling, political instability, underdeveloped financial...

Using cross-sectional time series data, we examine the effects of income, institutions and social capital on literacy and life expectancy. An improvement in institutions has positive influence on literacy but does not seem to affect life expectancy. In addition, countries with high income may...

This study complements existing literature by investigating how investment-driven finance affects inequality in Africa. The empirical evidence is based on restricted and unrestricted Two-Stage Least Squares and a pre-crisis periodicity (1980-2002). Inequality is measured with estimated household...

This paper examines how domestic, foreign, private and public investments affect income-inequality through financial intermediary dynamics. With the exception of financial allocation efficiency, financial channels of depth and activity are good for the poor as they diminish estimated household...

Hitherto very few studies on the inequality-finance (investment) nexus have focused on the African continent owing to lack of relevant data. This paper integrates previously missing investment and financial components in the assessment of how finance affects pro-poor investment channels....