Addressing the severity and intensity of poverty in Sub-Saharan Africa:: how relevant is the ICT and financial development pathway?

Isaac Kwesi Ofori; Mark Kojo Armah; Francis Taale; Pamela Efua Ofori

doi:10.1016/j.heliyon.2021.e08156

Addressing the severity and intensity of poverty in Sub-Saharan Africa: how relevant is the ICT and financial development pathway?

Isaac Kwesi Ofori
, Mark Kojo Armah
, Francis Taale
, Pamela Efua Ofori

Research output: Contribution to journal › Article › peer-review

Abstract

The study examines the effectiveness of ICT diffusion and financial development in reducing the severity and intensity of poverty in Sub-Saharan Africa (SSA). Using data from the World Development Indicators and the Global Consumption and Income Project (1980–2019), we provide evidence, robust to several specifications from the dynamic system GMM and the panel corrected standard errors estimation techniques, to show that, compared to financial access, ICT usage, and ICT access, ICT skills is remarkable in reducing both the severity and intensity of poverty. The results further revealed that, though ICT skills reduce poverty, the effect is more pronounced in the presence of enhanced financial development. Policy recommendations are provided in line with the region's green growth agenda and technological progress.

Original language	English
Article number	e08156
Pages (from-to)	1-18
Number of pages	18
Journal	Heliyon
Volume	7
Issue number	10
DOIs	https://doi.org/10.1016/j.heliyon.2021.e08156
Publication status	Published - Oct 2021
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 1 No Poverty
SDG 8 Decent Work and Economic Growth
SDG 10 Reduced Inequalities

Keywords

Africa
Financial access
Financial development
ICT access
ICTs
Inequality
Poverty

Access to Document

10.1016/j.heliyon.2021.e08156Licence: CC BY

Cite this

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title = "Addressing the severity and intensity of poverty in Sub-Saharan Africa:: how relevant is the ICT and financial development pathway?",

abstract = "The study examines the effectiveness of ICT diffusion and financial development in reducing the severity and intensity of poverty in Sub-Saharan Africa (SSA). Using data from the World Development Indicators and the Global Consumption and Income Project (1980{\textendash}2019), we provide evidence, robust to several specifications from the dynamic system GMM and the panel corrected standard errors estimation techniques, to show that, compared to financial access, ICT usage, and ICT access, ICT skills is remarkable in reducing both the severity and intensity of poverty. The results further revealed that, though ICT skills reduce poverty, the effect is more pronounced in the presence of enhanced financial development. Policy recommendations are provided in line with the region's green growth agenda and technological progress.",

keywords = "Africa, Financial access, Financial development, ICT access, ICTs, Inequality, Poverty",

author = "Ofori, \{Isaac Kwesi\} and Armah, \{Mark Kojo\} and Francis Taale and Ofori, \{Pamela Efua\}",

note = "{\textcopyright} 2021 The Author(s). Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).",

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T1 - Addressing the severity and intensity of poverty in Sub-Saharan Africa:

T2 - how relevant is the ICT and financial development pathway?

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AU - Armah, Mark Kojo

AU - Taale, Francis

AU - Ofori, Pamela Efua

PY - 2021/10

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AB - The study examines the effectiveness of ICT diffusion and financial development in reducing the severity and intensity of poverty in Sub-Saharan Africa (SSA). Using data from the World Development Indicators and the Global Consumption and Income Project (1980–2019), we provide evidence, robust to several specifications from the dynamic system GMM and the panel corrected standard errors estimation techniques, to show that, compared to financial access, ICT usage, and ICT access, ICT skills is remarkable in reducing both the severity and intensity of poverty. The results further revealed that, though ICT skills reduce poverty, the effect is more pronounced in the presence of enhanced financial development. Policy recommendations are provided in line with the region's green growth agenda and technological progress.

KW - Africa

KW - Financial access

KW - Financial development

KW - ICT access

KW - ICTs

KW - Inequality

KW - Poverty

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