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Article
Publication date: 8 August 2019

Maryam Kriese, Joshua Yindenaba Abor and Elipklimi Agbloyor

The purpose of this paper is to examine the link between financial consumer protection (FCP) and economic growth.

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Abstract

Purpose

The purpose of this paper is to examine the link between financial consumer protection (FCP) and economic growth.

Design/methodology/approach

The authors use cross-country data on 114 countries surveyed in the World Bank Global Survey on FCP and Financial Literacy (2013) and endogenous treatment regressions for the estimation.

Findings

The results indicate that FCP enhances economic growth through fair treatment, responsible lending, enforcement and dispute resolution and recourse regulations. The authors find no evidence to suggest that disclosure and compliance monitoring regulations have an effect on economic growth.

Practical implications

This study provides rich insight into the important question faced by policy makers, as to which FCP regulatory mechanisms to put in place to enhance economic growth.

Originality/value

This study provides current, cross-country empirical evidence on the debate as to whether FCP enhances economic growth.

Details

International Journal of Emerging Markets, vol. 14 no. 5
Type: Research Article
ISSN: 1746-8809

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