We provide an empirical analysis of the network structure of African countries based on a unique data set from the syndicated loans market. Using dynamic panel estimation techniques, we analyse the effects of economic, political and trade integrations on finance. Our findings reveal that the network-based measures perform relatively better than the conventional measures in most cases. Economic activities and money supply will help to strengthen the financial sector of the African economies. Moreover, we establish the significance of connectivity within and outside the continent during the integration process. Political and trade influences are somewhat weak and need further attention.
- International financial integration
- Dynamic panel
Bhattacharya, M., Inekwe, J. N., & Valenzuela, M. R. (2018). Financial integration in Africa: New evidence using network approach. Economic Modelling, 72, 379-390. https://doi.org/10.1016/j.econmod.2018.02.013