Financial dualism: An analysis of the effects of informal finance on formal finance in West African Economic and Monetary Union (WAEMU) countries
Moussa Coulibaly,
Gnanderman Sirpe
Abstract:This paper analyzes the effects of informal finance on formal finance in West African Economic and Monetary Union (WAEMU) countries. To this end, it uses a Probit model with a binary endogenous regressor and data from the Global Findex database, 2021. The findings indicate that having already saved informally positively affects the behavior of individuals to save formally. They also indicate that informal financial credit positively affects formal financial credits in the WAEMU. These findings indicate that fo… Show more
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