Africa’s long-run growth performance has been referred to as “the economic tragedy of the twentieth century” with current real per-capita income approximately the same as in the mid-1970s. Economic growth remains below the level required for these countries to meet the target established in the Millennium Development Goals (MDG) of halving poverty by the year 2015. Despite the latest modest improvement in the growth rate, the region is still with lowest per capita income and highest poverty rate in the world.This book empirically analyses the impact of financial development on economic growth in SSA countries. In particular, it also assesses the Long-run effect of spatial externality and human capital on financial development and economic growth in the region.

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