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Financial integration in Africa: New evidence using network approach

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  • Bhattacharya, Mita
  • Inekwe, John Nkwoma
  • Valenzuela, Maria Rebecca

Abstract

We provide an empirical analysis of the network structure of African countries based on a unique data set from the syndicated loans market. Using dynamic panel estimation techniques, we analyse the effects of economic, political and trade integrations on finance. Our findings reveal that the network-based measures perform relatively better than the conventional measures in most cases. Economic activities and money supply will help to strengthen the financial sector of the African economies. Moreover, we establish the significance of connectivity within and outside the continent during the integration process. Political and trade influences are somewhat weak and need further attention.

Suggested Citation

  • Bhattacharya, Mita & Inekwe, John Nkwoma & Valenzuela, Maria Rebecca, 2018. "Financial integration in Africa: New evidence using network approach," Economic Modelling, Elsevier, vol. 72(C), pages 379-390.
    • Handle: RePEc:eee:ecmode:v:72:y:2018:i:c:p:379-390
    DOI: 10.1016/j.econmod.2018.02.013
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    Cited by:

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    6. John Nkwoma Inekwe, 2021. "Global financial networks and entrepreneurship," The World Economy, Wiley Blackwell, vol. 44(5), pages 1261-1280, May.
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    8. John Nkwoma Inekwe & Yi Jin & Maria Rebecca Valenzuela, 2018. "Global financial network and liquidity risk," Australian Journal of Management, Australian School of Business, vol. 43(4), pages 593-613, November.
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    10. Audi, Marc & Ehsan, Rehan & Ali, Amjad, 2022. "Does Globalization Promote Financial Integration in South Asian Economies? Unveiling the Role of Monetary and Fiscal Performance in Internationalization," MPRA Paper 119365, University Library of Munich, Germany, revised 2023.
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    More about this item

    Keywords

    International financial integration; Africa; Dynamic panel; Eigenvector; Network;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General

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