Overview of Financial Inclusion, Regulation, and Education

Yoshino, Naoyuki; Morgan, Peter J.

doi:10.2139/ssrn.2838114

Cited by 21 publications

(10 citation statements)

References 30 publications

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“…The VIP is still below average globally in inclusion, raising the question of how effective national plans are in attaining broader access. Efforts to advance inclusion in the VIP have caught the attention in the literature of the field (Aviles, Sitorus, & Trujillo Tejada, 2019;Do et al, 2020;Jahan et al, 2019;Llanto, 2015;Yoshino & Morgan, 2016), as the VIP has launched plans to strengthen literacy, capacity, regulation, and access.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial inclusion dynamics in Southeast Asia: An empirical investigation on three countries

et al. 2020

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This paper examines the determinants of financial inclusion in Vietnam, Indonesia, and the Philippines (VIP). We employ a probit model to the World Bank's Global Findex Dataset of 2017. The analysis compares individuals' access to formal and informal financial services, savings, and credit tools, considering individual socioeconomic characteristics. The study finds significant gaps in financial access between individuals based on gender, age, income, education, location, and job status. Indonesia made more considerable improvements in financial inclusion than the Philippines and Vietnam. Access to savings and credit in the VIP remain low, mainly favoring adults, higher earners, formally employed, and the more educated ones. Females in the VIP have a higher likelihood to be financially included than males, they are more likely to hold savings accounts, to participate in informal finance, while they perceived fewer barriers to formal banking. Formal and informal services coexist in the VIP, while formal financial services often exclude the less privileged. Lack of money, high cost of finance, and perception of financial services as unnecessary are the largest obstacles to inclusion in the VIP, being more burdensome for low-income and less-educated people. Mobile banking services have developed yet leave the less-fortunate people unserved. Age plays a vital role in savings and credit behavior, with the VIP missing to ensure access for young people to services.

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Section: Literature Reviewmentioning

confidence: 99%

Financial inclusion dynamics in Southeast Asia: An empirical investigation on three countries

et al. 2020

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“…Besides, there is an approach where the object of financial inclusion is limited to certain social groups, for example, focusing on small and medium-sized businesses or only low-income groups. In particular, it is observed by Kalacheva and Kirienko (2018), Yoshino and Morgan (2016), Chakraborty (2011), and Hannig and Jansen (2010).…”

Section: Literature Reviewmentioning

confidence: 87%

Development of financial inclusion from the standpoint of ensuring financial stability

Kuznyetsova

Boiarko

Khutorna

et al. 2022

Public and Municipal Finance

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Since 2013–2015, financial inclusion has been considered a determinant of economic and social inclusion. Meanwhile, the impact of financial inclusion on economic development directly depends on financial stability. This paper focuses on the development peculiarities of financial inclusion in relation to ensuring financial stability and provides recommendations to Ukraine. The inclusive development theory and gap theory form the theoretical research base, while generalization, statistical methods, coefficient and graphical analysis, comparison and ranking represent its methodological basis. Financial institution development, financial literacy, income level, cashless economy, and public confidence have been justified as the content-forming factors and impact channels of financial inclusion on financial stability. The development peculiarities of financial inclusion are studied by cross-country analysis considering different financial system models and economic development levels. The weak points of financial inclusion in Ukraine are a sevenfold gap between the banks’ assets and non-bank financial institutions and 37% of the unbanked adult population. Moreover, there is a significant gap between the levels of human capital readiness and information security of banks’ digitalization compared to EU banks – by 2.5 and 1.3 times, respectively, and a critically high level of distrust in banks (70%) with a reasonably high share of payment applications users (58%).Further developing of financial inclusion and ensuring financial stability in Ukraine requires improving credit cooperation by transforming its structure from multi-institutional to mono-institutional and introducing the developed indicative tools for monitoring potential financial stability threats caused by technological innovations. AcknowledgmentThe study has been conducted within the framework of Applied Research “Ensuring financial stability of the financial sector of Ukraine’s economy on the basis of sustainable development and in the face of the latest epidemiological challenges” with the financial support of the Ministry of Education and Science of Ukraine (state registration number 0121U113271). The authors are also thankful to the editors and anonymous reviewers for their useful suggestions and comments to improve the quality of this paper.

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“…Their evaluation is reflected in the perceived usefulness and the perceived ease of use. Perceived usefulness looks at it from the angle that as he/she makes use of this technology, it would in turn lead to an increase in his/her performance in organizational activities, whereas perceived ease of use considers how much effort needs to be put in place to get the best out of the new technology (Tilakaratna, 2016;Yoshino and Morgan, 2016). The second stage involves the attitude of the user.…”

Section: Literature Reviewmentioning

confidence: 99%

Banking technology and cashless economy in selected Sub-Saharan African countries: does education matter?

Urhie

Amonu

Mbah

et al. 2021

JMLC

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Purpose This study aims to analyze the effect of banking technology [automated teller machine (ATM) and mobile cellular devices (MOBs)] and other traditional factors on the level of currency in circulation for a sample of 21 selected sub-Saharan African (SSA) countries. It also assessed the mitigating effect of education on the relationship between banking technology and the cashless economy. Design/methodology/approach The study used a panel data approach to design a cashless economy model with banking technology – ATM and MOBs – as well as their interaction with education as regressors. Findings This study finds that MOB is significant for promoting a cashless economy, whereas ATM is insignificant in sample SSA countries. The level of education and the number of bank branches were also found to be significant in promoting a cashless economy. The interaction between education and ATM was insignificant but negatively signed, whereas that between education and MOB was significant but had a positive sign. Research limitations/implications Non-availability of data restricted this work to a panel study of selected SSA countries. Subsequent studies should consider single-country case studies. Practical implications Findings from the study imply that for banking technology to drive a cashless economy effectively, education has to be improved. Originality/value The ratio of cash in circulation to total money supply was used as a measure of the cashless economy. The study also evaluated the moderating effect of education on banking technology.

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Overview of Financial Inclusion, Regulation, and Education

Cited by 21 publications

References 30 publications

Financial inclusion dynamics in Southeast Asia: An empirical investigation on three countries

Financial inclusion dynamics in Southeast Asia: An empirical investigation on three countries

Development of financial inclusion from the standpoint of ensuring financial stability

Banking technology and cashless economy in selected Sub-Saharan African countries: does education matter?

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