A Dynamic Panel and Quantile Approach to the Financial Innovation-Economic Growth Nexus in Sub-Sahara Africa

This study examines the impact of financial innovation on economic growth of 15 selected countries of Sub-Saharan Africa (SSA) countries from 2003 to 2022. According to the findings of the Pooled Mean Group (MG) result, financial innovation enhances economic growth in SA countries. Then, the outcome of the panel quantile regression shows that the positive impact of financial innovation on growth differs at different quantile with higher impact at the higher quantile than the lower quantile. The study suggests that SSA countries should consider financial innovation as a crucial factor for a sustainable economic growth. Keywords: Financial Innovation, Growth, Panel data, Quantile, and Sub-Saharan Africa.