Work

From expanding financial services to tackling poverty in West African Economic and Monetary Union: The accelerating role of mobile money

Year: 2024

Type: article

Abstract: This paper aims to assess the accelerating role of digital technology in fighting poverty through financial inclusion in the countries of West African Economic and Monetary Union (WAEMU). Based on a sample of the adult population from the World Bank's Findex database, we estimate a recursive bivariate probit model that addresses endogeneity. The findings show that the regular usage of mobile money as well as the purpose of mobile money usage including saving, borrowing, remittance and their combinations increase diversely and significantly the probability of short‐term poverty alleviation in WAEMU. In addition, the change in poverty status can be indirectly due to certain driving factors of mobile money usage including mainly the ownership of mobile phones.

Source: Journal of International Development

DOI: 10.1002/jid.3881

Authors: Melain Modeste Senou, Denis Acclassato Houensou

Institution: Université d'Abomey-Calavi

Language: English

Topic: Microfinance and Financial Inclusion

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: No poverty, Reduced inequalities, Industry, innovation and infrastructure, Decent work and economic growth

Open Access status: hybrid

Estimated APC paid: $3,190