The determinants of financial inclusion in Africa

Zins, Alexandra; Weill, Laurent

doi:10.1016/j.rdf.2016.05.001

Cited by 477 publications

(517 citation statements)

References 9 publications

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“…The sex of the respondents and their age play relatively a less important role in individuals" participation in the financial mainstream in WAEMU. Our results, consistent with the findings of Allen et al (2016), Clamara et al (2014), Pena et al (2014) and Zins and Weill (2016) suggest that, it is the most vulnerable segments of the society (youth, women, unemployed and the poorest) who are Superscripts (**) and (***) denote the 5 and 1% significance levels, respectively. Table 5.…”

Section: Resultssupporting

confidence: 92%

“…While in the world the employment status is associated with barriers such cost and ""lack of money"" (Allen et al, 2016), in WAEMU, it does not significantly affect the likelihood of reporting a specific barrier to financial inclusion. But, consistent with the findings of Zins and Weill (2016) in Africa, our results indicate that, Educational attainment is negatively associated with all barriers to financial inclusion in WAEMU and suggests that being less educated increases the likelihoods of reporting the above mentioned barriers to financial inclusion. Much in line with Allen et al (2016), being a poor increases the probability of reporting distance, cost and ""lack of money"" as barriers to account ownership in WAEMU.…”

Section: Self-reported Barriers To Financial Inclusionsupporting

confidence: 90%

“…By contrast to the findings of Zins and Weill (2016), women are more likely to report not having enough money as the reason why they are excluded than men in WAEMU. While in the world the employment status is associated with barriers such cost and ""lack of money"" (Allen et al, 2016), in WAEMU, it does not significantly affect the likelihood of reporting a specific barrier to financial inclusion.…”

Section: Self-reported Barriers To Financial Inclusioncontrasting

confidence: 85%

“…The results reported in Table 5 show that, while in Africa most of barriers are associated with Age (Zins and Weill, 2016), in WAEMU, only the likelihood of reporting ""no need for financial services"" decreases significantly with Superscripts (*), (**) and (***) denote 10, 5 and 1% significance levels, respectively. ""Not needed"" stands for "" no need for financial services.…”

Section: Self-reported Barriers To Financial Inclusionmentioning

confidence: 99%

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Demand-driven determinants and self-reported barriers to financial inclusion in the West African Economic and Monetary Union (WAEMU)

Lanie¹

2017

J. Econ. Int. Finance

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"Access to finance for all" has gained attention in the international development agenda in recent years. In the West African Economic and Monetary Union (WAEMU), the issue of financial inclusion is set at the level of priority but in several dimensions of financial inclusion, countries of the union lag behind the Sub-Saharan Africa and Asian benchmark countries. In this paper, factors that are important for financial inclusion in WAEMU are identified and it is investigated whether these factors are correlated with self-reported barriers to financial inclusion using the 2014 Gallup World Poll Survey data. The results indicate that, the variables: Age, sex, employment status, educational attainment and level of income are all determinants of financial inclusion in WAEMU. The results of the relationship between self-reported barriers and individuals' characteristics show that, educational level and income are the main factors that affect the livelihood of reporting a barrier to financial inclusion in WAEMU.

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Section: Resultssupporting

confidence: 92%

Section: Self-reported Barriers To Financial Inclusionsupporting

confidence: 90%

Section: Self-reported Barriers To Financial Inclusioncontrasting

confidence: 85%

Section: Self-reported Barriers To Financial Inclusionmentioning

confidence: 99%

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Demand-driven determinants and self-reported barriers to financial inclusion in the West African Economic and Monetary Union (WAEMU)

Lanie¹

2017

J. Econ. Int. Finance

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“…The paper employs Probit estimations, following the approach of Zins and Weill [28] to evaluate the determinants of financial inclusion in Tanzania. This approach is appropriate for this kind of study as the variables are dichotomous.…”

Section: Data and Samplingmentioning

confidence: 99%

Examination of the Status of Financial Inclusion and Its Determinants in Tanzania

Lotto

2018

Sustainability

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Abstract:The primary motive of this paper is to examine the determinants of financial inclusion in Tanzania. The paper borrows data from a household survey conducted by TWAWEZA. Employing the probit regression, the findings of this paper reveal that gender, education, age and income are the pertinent factors which affect the financial inclusion in Tanzania. The paper further shows the following: First, if you are a man, financially stable, have a good education and are relatively older, you then stand better chances of being financially included. The results show that, as the level of education increases, the individual is more likely to be financially included. The possible reason for this observation may be clearly linked with the financial ability of educated individuals to afford holding bank accounts and presenting personal guarantees when required by the banks during loan application because the level of education goes parallel with the income level. In addition, the results confirm a gender gap in formal financial inclusion, and this may be due to the factors such as inability of women to show collateral, their poor financial education awareness and lower business experience. Second, the paper also shows that the factors which affect traditional banking services are the same as those affecting mobile banking services (gender, age, income and education), and that there is a negative trend and a clear departure of customers' usage from banking retail services to mobile financial services. Although this gap has been narrowed recently, the best option with the banking sector is to create more new delivery channels while using mobile financial services as an infrastructure to deepen financial access reaching more un-banked population. The paper, therefore, recommends banks to create more delivery channels while using mobile telecommunication network as an infrastructure to deepen financial access reaching more unbanked people rather than competing with mobile network operators. The findings of this paper may also be used as a wake-up call for policy makers to put more emphasis on women and young people who are often left behind during Government's effort toward reaching the entire population as far as financial inclusion is concerned.

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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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The determinants of financial inclusion in Africa

Cited by 477 publications

References 9 publications

Demand-driven determinants and self-reported barriers to financial inclusion in the West African Economic and Monetary Union (WAEMU)

Demand-driven determinants and self-reported barriers to financial inclusion in the West African Economic and Monetary Union (WAEMU)

Examination of the Status of Financial Inclusion and Its Determinants in Tanzania

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

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