Skilled But Unaware of It: Occurrence and Potential Long-Term Effects of Females' Financial Underconfidence

Bannier, Christina E.; Schwarz, Milena

doi:10.2139/ssrn.2925196

Cited by 2 publications

(3 citation statements)

References 93 publications

(78 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…However, education level plays a key role in reducing barriers related to "lack of documentation," "no need for financial services" and "parents having an account." This last result is in line with the result of Bannier and Schwarz (2018) who found that more financial education leads to greater wealth and with the result of Grohmann et al (2018) 6.…”

Section: Financial Exclusion Determinantssupporting

confidence: 89%

See 1 more Smart Citation

Financial inclusion, mobile banking, informal finance and financial exclusion: micro-level evidence from Morocco

Ezzahid

Elouaourti

2021

IJSE

View full text Add to dashboard Cite

PurposeThis study has a dual purpose. The first is constructing a financial inclusion index to investigate if the reforms implemented during the last decades at the macroeconomic and sectoral levels have contributed to increase the financial inclusion level in Morocco. The second is to deepen the investigation to explore the impact of these reforms at the microeconomic level, by focusing on six major issues: determinants of financial inclusion, links between individual characteristics and barriers to financial inclusion, determinants of mobile banking use, motivations for saving, credit objectives and determinants of resorting to informal finance.Design/methodology/approachFirst, the principal component analysis methodology is mobilized to construct a financial inclusion index for Morocco. Second, the probit model methodology on a micro-level database of 5,110 Moroccan adults is used.FindingsFirst, the financial inclusion index shows that financial inclusion in Morocco over the last two decades has followed different trends. The first period (1999–2004) was characterized by a slight upswing in the level of financial inclusion. In the second period (2004–2012), the level of financial inclusion increased significantly. During the third period (2012–2019), the financial inclusion maintained almost the same level. Second, empirical results showed that the determinants of formal finance and mobile banking are different from those of informal finance. Having a high educational attainment and being a participant in the labor market fosters financial inclusion. Concerning financial exclusion determinants, the results emphasized that a high educational attainment reduces the barriers leading to voluntary exclusion. As income level increases, barriers of involuntary exclusion such as “lack of money” become surmountable. Although "remoteness" and "high cost" are the major barriers to financial inclusion of all Moroccan social classes, the development of mobile banking allows to eliminate, smoothen and/or loosen all barriers sources of involuntary exclusion. As for the barriers causing voluntary exclusion, the Islamic finance model constitutes a lever for the inclusion of population segments excluded for religious reasons. As for the determinants of the recourse to informal finance, being a woman, an older person and having a low educational level (no more than secondary education) increase the probability to turn to informal finance.Research limitations/implicationsThe main limitation of this study is the non-availability of data on the two dimensions (quality and welfare) of financial inclusion. The composite index is constructed on the basis of two dimensions (access and use) for which data are available.Practical implicationsThis study has three main implications. In practice, with the launching of the National Strategy for Financial Inclusion, this work provides empirical grounded evidence that contributes to design financial inclusion policies in Morocco. In research, while the debate on financial inclusion, mobile banking and informal finance has been raging in recent years, Morocco, like many other African countries, has not received coverage on these topics at the household level.Social implicationsFor society, this study provides considerable insight about the segments of population that are financially excluded and the main reasons for their exclusion.Originality/valueThis study enriches the existing literature with four essential contributions. First, it analyzes the evolution of the level of financial inclusion in the Moroccan economy through the development of a synthetic index. Second, it is the first to study the Moroccan population's financial behavior on the basis of micro-level data, which will help understand more precisely their financial behavior and the main obstacles to their inclusion. Third, this study explores the determinants of the use of mobile banking. Fourth, it sheds some light on the main determinants of the recourse to informal finance.

show abstract

Section: Financial Exclusion Determinantssupporting

confidence: 89%

“…Regarding individuals' access to finance, financial infrastructure and financial literacy are complementary factors. Bannier and Schwarz (2018) examined the influence of financial literacy on financial wealth. They found that good financial education leads to greater wealth.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial inclusion, mobile banking, informal finance and financial exclusion: micro-level evidence from Morocco

Ezzahid

Elouaourti

2021

IJSE

View full text Add to dashboard Cite

show abstract

“…It aims to demonstrate the effects of the neoliberal demand for economic autonomy from single mothers under market liberalisation processes and changes in national insurance and pension systems. This process of significant change in pension systems is part of policy in several Western countries, where individuals have been left with much greater responsibility for their own financial wellbeing (Bannier and Schwarz, 2017;Benish et al, 2017;Bettio et al, 2013;Frericks, 2013;Lurie, 2017). I use Israel as a case study in light of the transition in welfare policy directed at mothers, from the 'working mum,' whereby mothers are expected to be employed while putting their caring obligations first (Izraeli, 1992), to the 'self-sufficient' mum, where all mothers are required to participate in the labour market regardless of their domestic and caring obligations (for other countries, see Breitkreuz and Williamson, 2012).…”

Section: Introductionmentioning

confidence: 99%

The Economically Responsible Single Mum who Sees to her Future: Welfare-to-work programmes and pension savings

Herbst-Debby

2018

J. Soc. Pol.

View full text Add to dashboard Cite

In response to the economic vulnerability of single mothers and in keeping with a neoliberal ideology, many Western countries have encouraged increased labour-market participation, often through welfare-to-work (WTW) programmes. One practice adopted in these programmes is deepening knowledge of pension savings and increasing financial savviness. Feminist research points to women's lower economic status than men at retirement, especially divorcees and widows. Based on perceptions of single mothers participating in a WTW programme in Israel and their trainers, this study examines how such mothers, in a framework of vulnerability, experience policy imperatives regarding paid labour and examines their attitudes to pension savings. Findings reveal that, in reaction to the imperative of pension savings, some single mothers believed their present employment provided them with a more secure economic future, while others rejected this belief. The trainers also had divided opinions, despite their role in encouraging mothers to follow the imperative.

show abstract

Skilled But Unaware of It: Occurrence and Potential Long-Term Effects of Females' Financial Underconfidence

Cited by 2 publications

References 93 publications

Financial inclusion, mobile banking, informal finance and financial exclusion: micro-level evidence from Morocco

Financial inclusion, mobile banking, informal finance and financial exclusion: micro-level evidence from Morocco

The Economically Responsible Single Mum who Sees to her Future: Welfare-to-work programmes and pension savings

Contact Info

Product

Resources

About