Financial inclusion and energy poverty reduction in sub-Saharan Africa |
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| Affiliation: | 1. La Trobe Business School, La Trobe University, Melbourne, Australia;2. Bond Business School, Bond University, Gold Coast, Australia;3. Centre for Data Analytics, Bond University, Gold Coast, Australia;1. Newcastle Business School, University of Newcastle, Australia;2. Centre for African Research, Engagement and Partnerships (CARE-P), University of Newcastle, Australia;3. Bond Business School, Bond University, Gold Coast, Australia;4. Centre for Data Analytics, Bond University, Gold Coast, Australia;5. Department of Economics, Shahjalal University of Science and Technology, Bangladesh;1. Faculty of Economics and Management, University of Maroua, Cameroon;2. Centre d’Etudes et de Recherche en Management et Economie, Dschang, Cameroon;3. Ghana Institute of Management and Public Administration, Ghana;4. Faculty of Economics and Management, University of Dschang, Cameroon;1. Bond Business School, Bond University, Gold Coast, Australia;2. Centre for African Research, Engagement and Partnerships (CARE-P), University of Newcastle, Australia;3. School of Management and Economics, Beijing Institute of Technology, Beijing, China;4. Newcastle Business School, University of Newcastle, Australia, Australia;5. College of Economic and Social Development, Nankai University, Tianjin, China;1. School of Finance and Accounting, Fuzhou University of International Studies and Trade, Fuzhou 350202, China;2. International College, Ulaanbaatar Erdem University, Ulaanbaatar 999097, Mongolia;3. Nan’an Branch, Quanzhou Yixing Electrical Engineering Construction Co., Ltd., Quanzhou 362300, China |
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| Abstract: | This study examines the relationship between financial inclusion and energy poverty reduction, proxied with access to electricity and clean cooking technologies and fuels, using data from 23 Sub-Saharan African (SSA) countries from 2004 to 2019. Evidence from dynamic ordinary least squares, fully modified ordinary least squares, and canonical correlation regression techniques showed that financial inclusion significantly reduces energy poverty in SSA. However, financial inclusion's impact on energy poverty reduction differs significantly among individual SSA countries. We recommend that policies promoting financial inclusion would reduce energy poverty. |
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| Keywords: | Financial inclusion Energy poverty Sub-saharan africa Panel data G21 O1 Q48 |
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