1st Edition

The Service Sector and Economic Development in Africa

Edited By Evelyn Wamboye, Peter Nyaronga Copyright 2019
    292 Pages
    by Routledge

    292 Pages 72 B/W Illustrations
    by Routledge

    The service sector accounts for a huge proportion of global employment, and is the biggest driver of gross domestic product in developing nations. Yet there has been little research uncovering its scope, potential and implications on sustained and inclusive economic growth. This is especially true for Africa, which has seen a strong growth trajectory in recent years. This book presents a new frontier of research, offering insightful perspectives on the 21st-century realities of the service sector and its effect on economic development in Africa. The analysis presented here will be of relevance to academics and policymakers with an interest in Africa’s role in the global economy.

    Part I: Introduction 1. Introduction Part II: Financial Sector 2. Insurance Penetration in Sub-Saharan Africa: Issues, Challenges and Prospects, Franklin N. Ngwu, Chris I. Ogbechie & Oreva I. Atanya 3. Banking Services, Institutions and Economic Growth in Sub-Saharan Africa, Haruna Issahaku 4. Financial development and Income Inequality in South Africa, Samuel Adams and Edem Kwame Mensah Klobodu 5. Financial Sector and Economic Development in Sub-Sahara Africa, 1960–2015, Jean-Claude Nascimento 6. The Importance of Financial Development in the Promotion of Manufactured Exports in Africa, Rajen Mookerjee and Evelyn F. Wamboye 7. The dynamics of Bond and Equities Markets in WAEMU, Romain Houssa and Kelbesa Megersa Part III: Education Sector 8. Entrepreneurship education service and socioeconomic development in sub-Saharan Africa, Paschal Anosike, Oluwaseun Kolade and Pervaiz K. Ahmed 9. A Comparative Analysis of Gendered Labor Market Outcome in Africa and Asia’s Least Developed Countries, Evelyn F. Wamboye and Peter J. Nyaronga Part IV: Power, Health and ICTs Sectors 10. Unlocking the Potential of the Power Sector for Industrialization and Poverty Alleviation in Nigeria, Patrick N. Osakwe 11. Trade in Healthcare Services and Economic Development: Case of Kenya and South-Africa, Anita Medhekar 12. Information and Communication Technologies’ Impact on Growth and Employment in Africa, Evelyn F. Wamboye and Kiril Tochkov Part V: Tourism Sector 13. Development in Africa through Tourism and Services - A theoretical consideration, Peter J. Stauvermann & Ronald R. Kumar 14. Tourism as Panacea of Development, Shahdad Naghshpour and Bruno S. Sergi


    Evelyn F. Wamboye is Associate Professor of Economics at Pennsylvania State University. Her research areas include foreign capital flows, technological change and issues in international development. She has published numerous articles in refereed journals, book chapters, and a book on foreign capital flows in Africa. Evelyn has a Ph.D. in Economics from the University of Wisconsin-Milwaukee. Peter J. Nyaronga is Senior Economic Advisor at the Ministry of Natural Resources and Tourism, Tanzania. He has contributed to numerous reports and development strategies on tourism and natural resources in the ministry, East African community and South African Development Cooperation. His research is in international economics and development economics. He received his graduate degree from University of Dar es Salaam.