Financial Inclusion and Economic Growth in Sub-Saharan Africa—A Panel ARDL and Granger Non-Causality Approach

Many earlier development finance studies have attempted to assess the relationship between financial inclusion and economic growth. However, findings of these vary from economy region due various social factors. We, therefore, deemed it pertinent examine growth while further identifying direction causality two variables in twenty-six (26) Sub-Saharan African (SSA) economies using annual secondary data over 2000–2019 period. In our paper, we used principal component analysis (PCA) technique develop a single composite index proxy adopting panel unit root, system generalised method moment (GMM), ARDL cointegration tests stationarity properties, factors that affect growth, long-run relationships respectively. addition, Granger non-causality test is verify magnitude causality. Our study revealed share strong there bi-directional causality, indicating synergy variables. order ensure sustainable thus recommend developing countries macroeconomic policies will promote enhancing functioning regulation domestic markets all citizens are catered for available instruments, products, service offerings. Within same policy framework, efforts must be made support productive sectors