Addressing the Severity and Intensity of Poverty in Sub-Saharan Africa: How Relevant is the ICT and Financial Development Pathway?

The study examines the effectiveness of financial development, financial access, and ICT diffusion in reducing the severity and intensity of poverty in Sub-Saharan Africa (SSA). Using data from the World Bank’s World Development Indicators, and the Global Consumption and Income Project (1980–2019),...

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Bibliographic Details
Published inHeliyon no. forthcoming
Main Authors Ofori, Isaac K, Armah, Mark K, Taale, Francis, Ofori, Pamela E
Format Journal Article
LanguageEnglish
Published Cambridge, MA Cell Press 2021
Subjects
Africa
Financial Access
Financial Development
ICTs
Inequality
Poverty
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Summary:The study examines the effectiveness of financial development, financial access, and ICT diffusion in reducing the severity and intensity of poverty in Sub-Saharan Africa (SSA). Using data from the World Bank’s World Development Indicators, and the Global Consumption and Income Project (1980–2019), we provide evidence robust to several specifications from the dynamic system GMM and the panel corrected standard errors estimation techniques to show that, compared to financial access, ICT usage, and ICT access, ICT skills is remarkable in reducing both the severity and intensity of poverty. The results further unveil that, though ICT skills reduce the intensity and severity of poverty in SSA, the effect is more pronounced in the presence of enhanced financial development and financial access. Policy recommendations are provided in line with the region’s green growth agenda and the rise in technological hubs of the region.
Bibliography:ICTs, Financial Development, And Poverty Intensity And Severity In Sub-Saharan Africa
ISSN:2405-8440
2405-8440