This paper studies the relationship between financial integration and the correlation of GDP growth in sub-Saharan African countries. The dynamic nature of financial integration is first emphasized in order to account for both effects of risk sharing on the one hand and intermediation margins...

The objective of this paper is to show the importance of institutional quality as a factor enhancing the contribution of financial development to macroeconomic performance in SSA. In this context, we first present the theoretical literature and the empirical debates on the subject. Next, we...

Does financial development enable growth in developing countries? We find evidence for this in sub-Saharan Africa, a region where there is an urgent need to promote growth. Using a modern time series methodology and data for 22 countries over the period from 1960 to 2009, we find unidirectional...