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Globalization, Financial Depth, And Inequality In Sub-Saharan Africa

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Executive Summary

This paper examines the relationship between globalization, financial deepening, and inequality in sub-Saharan Africa between 1980 and 2002. The authors provide the first detailed econometric analysis in this regard covering the entire sub-Saharan African region; such an analysis has hardly been conducted owing to the lack of relevant data. They find that while globalization deteriorates inequality, its disequalizing effect depends on the level of development of the country. Further, this paper confirms that globalization deteriorates the equalizing effect of financial depth, although the latter helps to reduce inequality.

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