Purpose

This study aims to investigate the possible relationship between financial inclusion and shadow economy in selected African countries.

Design/methodology/approach

The study uses panel data estimation technique and Toda and Yamamoto causality approach. The data of selected African counties over a period of 2005–2015 are sourced from World Bank Development Indicators, International Monetary Fund International Financial statistics database and International Country Risk Guide.

Findings

The results show that financial inclusion reduces the size of shadow economy. The causality results show that there is a unidirectional causality moving from financial inclusion to shadow economy. The results demonstrate that a country with lower level of corruption and higher level of growth can benefit more in reducing the size of shadow economy through financial inclusion.

Originality/value

This study provides the first evidence of the link between financial inclusion and shadow economy from the Sub-Saharan Africa perspective. The study suggests that financial inclusion may be useful in affecting the size of shadow economy in Africa.

中文翻译：

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非洲的影子经济：金融包容性有多重要？

目的

本研究旨在调查选定的非洲国家金融包容性与影子经济之间可能存在的关系。

设计/方法/方法

该研究使用面板数据估计技术和户田和山本因果关系方法。选定的非洲国家在 2005-2015 年期间的数据来自世界银行发展指标、国际货币基金组织国际金融统计数据库和国际国家风险指南。

发现

结果表明，普惠金融减少了影子经济的规模。因果关系结果表明，存在从普惠金融到影子经济的单向因果关系。结果表明，腐败程度较低和增长水平较高的国家可以通过普惠金融来减少影子经济的规模。

原创性/价值

本研究从撒哈拉以南非洲的角度首次提供了金融包容性与影子经济之间联系的证据。该研究表明，金融包容性可能有助于影响非洲影子经济的规模。