Owolabi, Oluwarotimi Ayokunnu and Adedeji, Adedayo Oluseun and Aderounmu, Busayo and Oboko Oku, Asa‑Ruth and Ogunbiyi, Toun (2023) Do Information and Communications Technology (ICT) and financial development contribute to economic diversification? Evidence from sub‑Saharan Africa. Journal of Economic Structures, 12. pp. 1-18.
![[img]](http://eprints.covenantuniversity.edu.ng/style/images/fileicons/application_pdf.png) |
PDF
Download (834kB) |
Abstract
This study based on a panel of 37 sub-Saharan Africa countries over the period of 2000–2019 explores the effect of a number of Information and Communications Technology variables namely fixed broad band, fixed line telephone, Information and Communications Technology good imports, internet, mobile, and secure internet servers, and financial development measured by private sector domestic credit to GDP on economic diversification as measured by a computed Herfindahl–Hirschman Index of economic diversification. Model estimation was performed using pooled ordinary least squares regression, panel data fixed effects regression, and generalized method of moments regression. The results from findings indicated that the Information and Communications Technology variables: fixed-line telephone, and ICT imports significantly reduced economic diversification, while internet and mobile were, respectively, insignificant for boosting economic diversification, and fixed broadband and secure internet servers were insignificant in adversely affecting economic diversification. As regards financial development, it was insignificant in boosting economic diversification of sub-Saharan Africa countries. The study recommended amongst others that individuals in sub-Saharan Africa countries should have improved access to Information and Communications Technology infrastructure and governments should ensure adequate provision of quality Information and Communications Technology infrastructure.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Information Communication Technology (ICT), Financial development, Economic diversification, Sub-Saharan Africa, Generalized method of moments |
| Subjects: | D History General and Old World > DT Africa H Social Sciences > HB Economic Theory Q Science > QA Mathematics > QA75 Electronic computers. Computer science |
| Divisions: | Faculty of Engineering, Science and Mathematics > School of Electronics and Computer Science Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | nwokealisi |
| Date Deposited: | 07 Mar 2024 08:33 |
| Last Modified: | 07 Mar 2024 08:33 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/17842 |
Actions (login required)
 |
View Item |
