This paper links banking system development to the colonial and legal history of African countries. Based on a sample of 40 African countries from 2000 to 2018, our empirical findings show a significant dependence of current financial institutions on the inherited legal origin and the colonization type. Findings also reveal that current financial legal institutions are not major determinants of banking system development, and that institutional development and governance quality are more important. A high share of government spending relative to GDP also positively affects banking system development in African countries.

中文翻译：

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非洲银行系统的差异：原因和后果

本文将银行系统的发展与非洲国家的殖民和法律历史联系起来。基于 2000 年至 2018 年 40 个非洲国家的样本，我们的实证研究结果表明，当前金融机构对继承的法律起源和殖民类型有很大的依赖性。调查结果还表明，当前的金融法律制度并不是银行体系发展的主要决定因素，制度发展和治理质量更为重要。相对于 GDP 而言，政府支出的高比例也对非洲国家的银行体系发展产生了积极影响。