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Financial Inclusion Measurement in the Least Developed Countries in Asia and Africa

Year: 2021

Type: article

Abstract: The purpose of this paper is to examine the determinants of financial inclusion in the least developed countries in Asia and Africa. We used World Bank data to estimate the probit econometric technique in the studied countries. The results show that young people and women are groups excluded from financial inclusion and that education and income are two of the key pillars for increasing financial inclusion. Furthermore, the results reveal that a higher level of financial inclusion increases the level of official savings in countries, which in turn promotes their development. The findings of this study are beneficial for policymakers in the least developed countries to promote innovative approaches to enhance the involvement of excluded people in formal finance.

Source: Journal of the Knowledge Economy

DOI: 10.1007/s13132-021-00773-2

Authors: Alicia Girón, Amirreza Kazemikhasragh, Antonella Francesca Cicchiello, Eva Panetti

Institutions: Universidad Nacional Autónoma de México, Università Cattolica del Sacro Cuore, Parthenope University of Naples

Language: English

Topic: Microfinance and Financial Inclusion

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Reduced inequalities, Decent work and economic growth, No poverty, Partnerships for the goals

Open Access status: hybrid

Estimated APC paid: $2,780