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Can Extractive and Financial Sector Development Help Build Sustainable Infrastructure in Africa?

In: Taxation and Management of Natural Resources in Africa

Author

Listed:
  • Zangina Isshaq

    (University of Ghana Business School)

  • Aisha Mohammed Sissy

    (University of Ghana Business School)

  • Mohammed Amidu

    (University of Ghana Business School)

Abstract

We examine the relationship between natural resource rents, bank credit, and infrastructure quality in Sub-Saharan Africa. We consider total natural resources rents and specific rents from extractive industries—oil, gas, and mineral resources—in our analysis. We employ instrumental variables, fixed effects, and dynamic panel data estimations in our analysis. Our results, in general, suggest a weak positive association between natural resource rents and infrastructure quality. Conditioning on institutional quality and financial development leads to different observations. When we consider natural resource dependence as a natural capital proportion of total wealth, we find that institutional quality has a negative coefficient on the interaction of institutions and natural resources rent in developing enablers of trade such as roads and other trade-related infrastructure to spur economic activity and prosperity.

Suggested Citation

  • Zangina Isshaq & Aisha Mohammed Sissy & Mohammed Amidu, 2024. "Can Extractive and Financial Sector Development Help Build Sustainable Infrastructure in Africa?," Advances in African Economic, Social and Political Development, in: Mohammed Amidu & Abdallah Ali-Nakyea & Joshua Yindenaba Abor (ed.), Taxation and Management of Natural Resources in Africa, pages 347-371, Springer.
    • Handle: RePEc:spr:aaechp:978-3-031-58124-3_15
    DOI: 10.1007/978-3-031-58124-3_15
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    More about this item

    Keywords

    Natural resource; Infrastructure; Bank credit development Africa;
    All these keywords.

    JEL classification:

    • Q34 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Natural Resources and Domestic and International Conflicts
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • N27 - Economic History - - Financial Markets and Institutions - - - Africa; Oceania

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