Digital financial inclusion development, investment diversification, and household extreme portfolio risk

Lu, Xiaomeng; Guo, Jiaojiao; Zhou, Hongyuan

doi:10.1111/acfi.12863

Cited by 22 publications

(8 citation statements)

References 55 publications

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“…First, FI provides convenient, affordable access to deposit and saving accounts with banks (which act as financial intermediaries between the surplus and deficit units within an economy), and thus can facilitate efficient channeling of funds from savers to individual and enterprise investors who are in need for those funds (Sarma, 2008;Boitan, 2016). As a result, FI can lead to more investment and production in an economy, which would increase NECOT (Lu, Guo, & Zhou, 2021). This notion is based on the 'finance-growth hypothesis', which was coined by Schumpeter (1912) and popularized by Fry (1988) and Pagano (1993).…”

Section: Theoretical Framework and Study Hypothesesmentioning

confidence: 99%

Does Financial Inclusion Enhance Economic Output? Evidence from North Africa

Khalifa¹,

El-Sady²,

Sultanova

2023

Acad. J. Interdiscip. Stud.

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The aim of this study was to investigate the impact of two dimensions of financial inclusion -namely availability of banking services and usage of banking services- on national economic output in four North African economies; Egypt, Algeria, Tunisia and Morocco. Availability of banking services was proxied by number of commercial bank branches. Usage of banking services was proxied by the sum of outstanding deposits and outstanding loans with commercial banks. National economic output was proxied by real gross domestic product. Using panel data for the years 2004-2020, panel regression analysis results revealed significant positive effects of both, availability and usage of banking services on national economic output when no time-lagging of the predictors was used, and also when the predictors were one and two year lagged. Theoretical contributions, practical implications and study limitations are discussed. Received: 24 December 2022 / Accepted: 10 February 2023 / Published: 5 March 2023

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Section: Theoretical Framework and Study Hypothesesmentioning

confidence: 99%

Does Financial Inclusion Enhance Economic Output? Evidence from North Africa

Khalifa¹,

El-Sady²,

Sultanova

2023

Acad. J. Interdiscip. Stud.

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“…It is worth noting that in recent years, China's booming digital economy has become a possible means to address the mystery of "limited participation" in China's household nancial market. Given that digital infrastructure has a positive impact on enhancing the nancial literacy of the population [11], and that broadband infrastructure is one of the key components of the digital economy [12], and that broadband service policies can effectively penetrate in free economies throughout the world [13], the aforementioned literature serves as the basis for the investigation in this paper.…”

Section: Introductionmentioning

confidence: 99%

Government Digital Policy Breaks the Mystery of “Limited Participation” in China's Home Finance Market

Lü

Han

Xie

2023

Preprint

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This study examines whether household financial market participation at the urban dimension is impacted by the digital economy, which has important implications for promoting the shift from savings to investment among Chinese households and alleviating the long-standing issue of under-participation in Chinese household financial markets. We find that the digital economy can further make a contribution to household financial market participation rates by increasing the proportion of households with smart Internet access devices and household financial information attention. Additionally, the digital economy greatly influences urban household financial market participation rates and high financial literacy households' financial market participation rates. Classification codes: G38;D14;E65

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“…In the literature, many studies on digital financial inclusion have emerged. In the year 2021 alone, many studies examined digital financial inclusion in relation to economic growth (Ahmad et al, 2021), entrepreneurship (Baker, 2021), urban-rural income gap (Ji et al, 2021), poverty reduction (Wang and Fu, 2021), investment diversification (Lu et al, 2021), complex systems (Dai, 2021), research and development (Sun et al, 2021), etc. Despite the increasing number of studies on digital financial inclusion, digital financial inclusionin terms of its meaning, goal, components, instruments and regulatory issues is not generally understood.…”

Section: Introductionmentioning

confidence: 99%