Determinants of Financial Inclusion in Africa and OECD Countries PDF Download
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Author: Samuel Fiifi Eshun
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Using a dynamic panel data analysis, we explore the factors influencing financial inclusion in Sub-Saharan Africa (SSA) and countries belonging to the Organization for Economic Co-operation and Development (OECD). We employ the System Generalized Method of Moments (GMM) estimator and assess 31 SSA and 38 OECD countries from 2000-2021. We found that the differences in trade openness, banks' efficiency, income, and remittances are some macro-level factors that explain the variation in financial inclusion levels. We highlight the importance of quality literacy policies, trade improvement with restrictions on cross-border capital flows, and a more efficient financial system to promote financial inclusion.
Author: Samuel Fiifi Eshun
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Using a dynamic panel data analysis, we explore the factors influencing financial inclusion in Sub-Saharan Africa (SSA) and countries belonging to the Organization for Economic Co-operation and Development (OECD). We employ the System Generalized Method of Moments (GMM) estimator and assess 31 SSA and 38 OECD countries from 2000-2021. We found that the differences in trade openness, banks' efficiency, income, and remittances are some macro-level factors that explain the variation in financial inclusion levels. We highlight the importance of quality literacy policies, trade improvement with restrictions on cross-border capital flows, and a more efficient financial system to promote financial inclusion.
Author: Adrian Alter
Publisher: International Monetary Fund
ISBN: 1513570188
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
This paper examines financial inclusion and development in the CEMAC. We explore the level of financial inclusion in the CEMAC through a benchmarking exercise.We construct a measure of financial development gap and analyze its determinants. Using panel data regressions, we find that inflation, income, and natural resources explain most of the financial development level but that better financial sector governance and stronger economic governance are positively associated with financial sector development. Richer and poorer countries can be equally far from their expected financial development levels. Finally, we use a benchmarking exercise to identify countries that have successfully reduced the financial development gap and propose policy measures that CEMAC countries could use to boost financial inclusion.
Author: Franklin Allen
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
This paper investigates the African financial development and financial inclusion gaps relative to other peer developing countries. The paper uses a set of variables related to financial development and inclusion. It first estimates the gaps between African countries and other developing countries with similar degrees of economic development. Then, it explores the determinants of financial development and inclusion. The analysis finds that population density is considerably more important for financial development and inclusion in Africa than elsewhere. Finally, the paper shows evidence that a recent innovation in financial services, mobile banking, has helped to overcome infrastructural problems and improve financial access.
Author: Dumani Markjackson
Publisher:
ISBN: 9783346996268
Category :
Languages : en
Pages : 0
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Book Description
Author:
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 37
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Book Description
This paper investigates the African financial development and financial inclusion gaps relative to other peer developing countries. The paper uses a set of variables related to financial development and inclusion. It first estimates the gaps between African countries and other developing countries with similar degrees of economic development. Then, it explores the determinants of financial development and inclusion. The analysis finds that population density is considerably more important for financial development and inclusion in Africa than elsewhere. Finally, the paper shows evidence that a recent innovation in financial services, mobile banking, has helped to overcome infrastructural problems and improve financial access.
Author: Munacinga C. Simatele
Publisher: AOSIS
ISBN: 1776341813
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
Financial inclusion has been noted as a key driver of poverty alleviation and growth. Yet, most of the scholarly work that exists lacks a comprehensive discussion of how the poor interact with financial services and the channels through which such services can affect their livelihoods. This book offers researchers who focus on financial inclusion and African economies a one-stop resource for understanding the channels of transmission for financial inclusion as well as an application of these channels through original country-specific empirical papers. The book provides a back-to-basics presentation of the transmission of financial services to growth and poverty. This theoretical discussion is complemented by an empirical presentation of the various services used by the poor, with a focus on Africa. Case studies of financial inclusion in six African countries cover a broad range of topics most important to African countries and highlight the unique African setting. These empirical papers provide important learning points. Firstly, hybrid financial institutions such as cooperative financial institutions and financial social entrepreneurs are the best way to increase financial inclusion in Africa. They provide important vehicles to circumvent the restrictive and exclusive bank-based financial markets typical of African economies. Secondly, digital finance is a potent tool for improving financial access and usage in Africa, and its impact on poverty operates through both traditional and nontraditional financial instruments. Thirdly, investment in infrastructure which supports complementary markets is critical and is likely to have a greater effect on credit rationing than direct provision of credit to small businesses.
Author: Asli Demirguc-Kunt
Publisher: World Bank Publications
ISBN: 1464812683
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Author: Issouf Soumare
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Using data from the Global Financial Inclusion database (Global Findex) of the World Bank, this study attempts to identify and analyse the determinants of financial inclusion in Central and West Africa, two of the least financial inclusive regions of the Africa continent. The findings indicate that access to formal finance in the two regions is mainly driven by individual characteristics such as gender, education, age, income, residence area, employment status, marital status, household size and degree of trust in financial institutions. However, Central Africa and West Africa differ with the entire Africa region on a number of important determinants of access to finance. Specifically, educated, working-age, urban resident and full-time employed are significant individual characteristics of access to formal account in both regions and in Africa. However, being male and/or married are positive determinants of financial inclusion for Central Africa and Africa, whereas income is significant in West Africa and Africa. In addition, household size has a negative impact on account ownership in West African and not in Central Africa. When we use the other financial inclusion indicators (saving, borrowing or frequency of use), the above determinants remain all significant for Africa, but not necessarily for Central Africa or West Africa, where they have different degree of significance. As policy recommendations, governments and their partners in these regions should adopt or strengthen regulatory laws to better protect financial services consumers, enlarge population access to education, ease access to finance for the vulnerable groups (women, youth, poor, etc.), and continue their effort to increase the number of permanent and stable jobs created with special focus on gender and marital status in Central Africa and income and household size in West Africa.
Author: Naftaly Mose
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
There are hosts of macroeconomic dynamics contributing to financial inclusion in developing countries. These sources may be both from the demand side and supply side. The government and financial institutions takes several policy initiatives to encourage the supply of financial services to the excluded sector. However, the demand-side factors of financial access have attracted little focus. This study provides an overview of sources of financial inclusion and highlights the policy measures from the perspective of consumers of financial services - also known as the demand-side. The secondary series data were estimated using the panel ordinary least square estimation techniques. The findings of the study indicate that economic growth, literacy level and the number of internet users exert a positive and significant effect on financial access in East African nations. However inflation was identified as slowing financial inclusion. In addition, the result indicates that the deposit interest rate was insignificant. The study recommends for the deposit interest rate be made attractive to promote continuous saving and access to loanable funds in the financial market. The policy strategies therefore should be aimed at cultivating a conducive financial system that upholds financial access-demand-driven rates to stimulate financial growth.
Author: Steven Cassimon
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Individuals' access to finance is particularly low in Mexico. Widening access to finance would boost growth and inclusion. This paper uses microdata from the National Survey for Financial Inclusion to assess the drivers of and the barriers to people's financial inclusion in Mexico. Results show that working in the formal sector, the level of wealth and income, educational attainment, and age are the socio-economic characteristics that most affect the likelihood of holding any formal financial product. The relative importance of these characteristics, however, varies across financial products. Economic barriers to individuals' financial inclusion are strongly associated with widespread informality and a low level of education and income. These results suggest that financial education programmes and credit registries considering a wider set of data to assess informal workers' credit worthiness would be promising avenues to help more Mexicans access financial services.
