Financial inclusion: Measures and applications to Africa

Kebede, Jeleta; Naranpanawa, Athula; Selvanathan, Saroja

doi:10.1016/j.eap.2021.03.008

Cited by 31 publications

(17 citation statements)

References 28 publications

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“…The availability of effective financial institutions is essential for mobilizing savings, allocating resources for most productive usage and enhancing the diversification of financial risk. On the contrary, a weak financial system hampers the development process in an economy and poses challenges in promoting inclusive growth (Kamal et al, 2021;Huang et al, 2021;Kebede et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

Determinants of financial inclusion across gender in Saudi Arabia: evidence from the World Bank's Global Financial Inclusion survey

Shabir

Ali

2022

IJSE

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PurposeThis paper investigates the magnitude of financial inclusion in terms of ownership and usage of financial products across gender in Saudi Arabia based on the World Bank's Global Financial Inclusion (GFI) survey data.Design/methodology/approachThis study derives the data from the GFI survey, covering 1,009 respondents from Saudi Arabia. The data on ownership and usage of financial products along with demographic characteristics of the surveyed respondents have been extracted for the analysis. The data have been analyzed with the help of statistical techniques, such as the chi-square test, and marginal effects for identifying the factors affecting financial inclusion across gender.FindingsThere is a significant association between financial inclusion and gender in terms of ownership and usage. About 82% of males have reported having a bank account with financial institutions, whereas only 60% females have reported ownership of a bank account in Saudi Arabia. The ownership and usage of financial products are comparatively more among males than females. The analysis of the marginal effect of gender shows a significant and positive impact on financial inclusion, implying that males are 10 and 13% more likely to own and use financial products, respectively, as compared to females. Further, marginal effect estimates for ownership and usage for males and females indicate that a set of independent variables related to age, level of education, occupation and income level of the respondents have a significant impact on financial inclusion.Practical implicationsFinancial inclusion across gender is the first step of creating an inclusive society and empowering both males and females equally. Findings indicated an inclination of financial inclusion towards males. The research findings provide key policy insights for achieving the Vision 2030 of Saudi Arabia by strengthening gender inclusion in its growth story and ensuring the participation of females at workplaces.Originality/valueMost of the studies have included bank account ownership in a financial institution as an indicator of financial inclusion. The authors have included ownership and usage of a variety of financial products for assessing the determinants of financial inclusion across gender, which provides empirical evidence on the magnitude of financial inclusion.

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Section: Introductionmentioning

confidence: 99%

Determinants of financial inclusion across gender in Saudi Arabia: evidence from the World Bank's Global Financial Inclusion survey

Shabir

Ali

2022

IJSE

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“…Studies on determinants of financial inclusion converge when they state that the education level of the population is one of the important factors to consider (Kebede et al ., 2021; Zins and Weill, 2016). It is also substantiated, that education can contribute to financial stability through better utilization and profitability of scarce financial resources (Jungo et al ., 2021a, b).…”

Section: Literature Reviewmentioning

confidence: 99%

Controlling corruption in African countries: innovation, financial inclusion and access to education as alternative measures

Jungo

Madaleno²,

Botelho³

2023

IJSE

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PurposeThis study aims to examine the impact of financial inclusion and financial innovation on corruption, considering the moderating role of education, as well as identify the specific modality of digital inclusion and payments that contribute to corruption reduction.Design/methodology/approachThe study uses a representative sample consisting of 46 African countries in three different years 2011, 2014 and 2017. On the data, feasible generalized least squares (FGLS), instrumental variables – two stages least squares (IV-2SLS) and two-stage generalized method of moments (IV-2GMM) model estimation methods were employed.FindingsThe results suggest that financial inclusion and education significantly reduce corruption. As well, the interaction between financial inclusion and education reduces corruption. Additionally, the authors find that the expansion of bank credit and the use of credit and debit cards are the specific modes of financial inclusion and digital payments that can contribute to corruption reduction.Research limitations/implicationsThis study awakens policymakers in African countries about the need to consider education as an alternative measure to support financial inclusion and reduce the use of physical cash in transactions for an effective fight against corruption.Practical implicationsRegarding practical implications, the study shows that financial inclusion besides reducing poverty for households can contribute to macroeconomic stability in Africa.Originality/valueThe study uses a representative sample composed of 46 African countries and considers the role of education in moderating the relationship between financial inclusion and financial innovation on corruption. Furthermore, the study identifies the specific modality of financial inclusion and digital payments that contribute to corruption reduction.

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“…Several studies argued that financial inclusion is not merely ownership of a bank account in a financial institution rather, it is the use of banking services on a regular basis (Alhanawi et al, 2020;Kebede et al, 2021). Empirical evidence indicates that individuals with regular banking behaviour in terms of borrowings and savings are well connected with the financial system (Gautier et al, 2020;N'dri and Kakinaka, 2020;Huang et al, 2021;Yadav et al, 2021).…”

Section: Determinantsmentioning

confidence: 99%

Socio-economic characteristics, mobile phone ownership and banking behaviour of individuals as determinants of digital financial inclusion in India

Ali

Ghildiyal

2023

IJSE

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PurposeThis paper aims at analysing the socio-economic characteristics, mobile phone ownership and banking behaviour as key determinants of digital financial inclusion in India.Design/methodology/approachThis study is based on the Global Findex Survey of the World Bank covering 3,000 adult individuals in India. Simple statistical tools such as descriptive statistics, chi-square test and regression analysis with a marginal effect have been used for the data analysis.FindingsAbout 35.2% of respondents have reported using digital financial services in the country. There is a significant association between the socio-economic profiles of individuals with the adoption of digital financial services in terms of gender, age, education, occupation and income. The marginal effect indicates that socio-economic factors, mobile phone ownership and banking behaviour of individuals towards borrowings and savings have indicated significant influence on digital financial inclusion. The analysis depicts that male with higher age, education, working status and higher income are more likely to adopt digital financial services. Further, individuals with mobile phone ownership and utilising banking in terms of borrowings and savings are more likely to adopt digital financial services.Practical implicationsAs digital banking services have emerged as a preferred channel for financial service delivery, this study provides timely insights on developing user driven-strategies for promoting digital financial services.Originality/valueSocio-economic characteristics, mobile phone ownership and banking behaviour are critical determinants of financial inclusion, so assessing its implications in the era of digitisation becomes imperative.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-10-2022-0673.

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Financial inclusion: Measures and applications to Africa

Cited by 31 publications

References 28 publications

Determinants of financial inclusion across gender in Saudi Arabia: evidence from the World Bank's Global Financial Inclusion survey

Determinants of financial inclusion across gender in Saudi Arabia: evidence from the World Bank's Global Financial Inclusion survey

Controlling corruption in African countries: innovation, financial inclusion and access to education as alternative measures

Socio-economic characteristics, mobile phone ownership and banking behaviour of individuals as determinants of digital financial inclusion in India

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