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ICT adoption, innovation and financial development in a digital world: empirical analysis from Africa
Transnational Corporations Review ( IF 3.5 ) Pub Date : 2020-12-03 , DOI: 10.1080/19186444.2020.1851124
Jeremiah O. Ejemeyovwi 1 , Evans S. Osabuohien 2, 3 , Ebenezer I. K. Bowale 4
Affiliation  

Abstract

As a response to a digital era that is seen as a core element of global digitalisation, financial development in many countries including those in the African continent experienced varying patterns. These have made some countries to be categorised as relatively high and others relatively low in terms of their scale on digital economy. Thus, this study empirically investigates the interaction of information and communication technology (ICT) adoption and innovation, and the role of this digitalisation interaction on financial development in Africa, and across the sub-regions. It utilises the Bayesian Vector Auto-Regressive (BVAR) modelling to simulate the impulse response function and variance decomposition across Africa. The study finds that ICT-innovation interaction shock positively drives financial development across all of 6 datasets. This implies that for multinational corporations (MNCs) and other economic agents, ICT – innovation interaction should be strongly applied across all sectors to drive financial development since all sectors require finances to improve performance. Thus, contributes to the empirical testing of the theoretical reflections of digitalisation and digital economy interaction in African countries.



中文翻译:

数字世界中ICT的采用,创新和金融发展:来自非洲的经验分析

摘要

作为对被视为全球数字化核心要素的数字时代的回应,包括非洲大陆在内的许多国家的金融发展经历了不同的模式。这些因素使一些国家的数字经济规模被归类为相对较高,而另一些国家则相对较低。因此,本研究从经验上调查了信息和通信技术(ICT)的采用与创新之间的相互作用,以及这种数字化相互作用对非洲及整个次区域金融发展的作用。它利用贝叶斯矢量自回归(BVAR)建模来模拟整个非洲的脉冲响应函数和方差分解。该研究发现,ICT与创新的互动对整个6个数据集的金融发展产生了积极影响。这意味着对于跨国公司(MNC)和其他经济主体而言,ICT –创新互动应在所有部门中强力应用,以推动金融发展,因为所有部门都需要资金来提高绩效。因此,这有助于对非洲国家数字化和数字经济互动的理论反思进行实证检验。

更新日期:2020-12-03
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