Heterogeneous Data Approach on Financial development of Selected African Leading Economies

The presentation of this data focuses on analysing the dynamic role of economic growth, foreign direct investment and financial globalization uncertainty on financial development of selected leading African economies, spanning the year 1970 to 2018, and the data were obtained from world development indicators and global financial development databases. Second generation econometrics techniques were deployed for the analysis. We began with the descriptive and correlation statistics in order to ascertain the normality of the data. Also, homogeneity and cross-sectional dependency tests were carried out to validate the whether or not the data is heterogeneous and depend upon each other across the series. As well, the [3] co-integration and dynamic common correlated effect [1] and pool mean group [2] estimates were applied to confirm the presence of long-run relationship and their effects on the financial development among the sampled countries.