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Banking Development in West Africa

In: Monetary and Financial Systems in Africa

Author

Listed:
  • Regina Nsang Tawah

    (Bowie State University)

Abstract

This chapter presents the evolution of banking in West Africa, focusing on ties of the West African Economic and Monetary Union (WAEMU) countries to their French colonial heritage and non-WAEMU countries to their British heritage. It includes an overview of the sub region’s financial development and goes beyond to analyze the factors that determine financial development, focusing on the development of the banking sector. The random-effects and fixed-effects models were estimated to determine the factors that account for changes in banking development using panel data for 2007–2017. The results show that governance indicators such as the control of corruption, and regulatory quality, apart from GDP per capita and the interest rate spread, significantly determine banking development. The proxies for banking development include domestic credit to the private sector as a percentage of GDP, bank liquid reserves to bank assets, claims on the central government as a percentage of GDP, and bank branches per 100,000 adults, informing on financial depth, financial access and stability.

Suggested Citation

  • Regina Nsang Tawah, 2022. "Banking Development in West Africa," Springer Books, in: Aloysius Ajab Amin & Regina Nsang Tawah & Augustin Ntembe (ed.), Monetary and Financial Systems in Africa, chapter 0, pages 217-237, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-96225-8_10
    DOI: 10.1007/978-3-030-96225-8_10
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