Abstract
Abstract. The paper probes the roles of Financial Inclusion and human capital financing as catalysts for economic growth in Africa during the boom and burst periods. It adopts a battery of estimators like the Pooled OLS, Fixed Effect, Generalized Method of Moment and the Pairwise Granger Causality Tests for a panel of 57 African countries over the period stemming 2004-2015. The results show that financial inclusion has led to increased economic growth and stability in African while the impact of human capital still needs more commitments. The emanating policy antidotes are that there is urgent need for the CBs in Africa to intensify more efforts in banking the unbanked population and also, government should raise the percentage of budget allocation on education in other to improve on the level of human capital and achieve the very much needed sustained development in Africa.
Keywords. Financial education, Financial inclusion, Financial literacy, Africa.
JEL. D14, D18, G21, I28.
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