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Articles 1 - 23 of 23
Full-Text Articles in Finance
Financial Literacy And Inclusion Of Philippine Jeepney And Tricycle Drivers, Bryan N. Bernabe, Jyro B. Triviño
Financial Literacy And Inclusion Of Philippine Jeepney And Tricycle Drivers, Bryan N. Bernabe, Jyro B. Triviño
Leadership and Strategy Faculty Publications
The study investigated how the different elements of financial literacy influence the financial inclusion of jeepney and tricycle drivers in Caloocan, Metro Manila. Pearson correlation analysis revealed a positive correlation between financial inclusion and attitude, behavior, knowledge, and skills. Additionally, analysis of variance highlighted that education and age play significant roles in enhancing financial literacy. The linear regression findings also supported the idea that income acts as a positive moderator, augmenting the impact of financial literacy on financial inclusion. The study attempted to disaggregate its financial literacy components to understand their impact on financial inclusion, but its interrelationships also require …
How Do Life And Non-Life Insurance Affect Financial Inclusion? New Empirical Evidence From A Cross-Country Analysis, Shen Yap, Huishan Lee, Ping Xin Liew
How Do Life And Non-Life Insurance Affect Financial Inclusion? New Empirical Evidence From A Cross-Country Analysis, Shen Yap, Huishan Lee, Ping Xin Liew
Bulletin of Monetary Economics and Banking
This paper examines the influence of life and non-life insurance on financial inclusion in 79 countries during 2019. Financial inclusion indices were calculated using the Euclidean distance approach. The study reveals that the financial inclusion level is considerably impacted by the integration of insurance indicators. In over 64% of the countries, the financial inclusiveness is reduced as a result of the incorporation of life insurance. In contrast, the financial inclusiveness of nearly 47% of the countries was enhanced by the inclusion of non-life insurance. The paper emphasizes the necessity for policymakers to take insurance into account as a critical element …
The Impact Of Financial Inclusion On Inflation In The Mena Region: Oil Vs Non-Oil Countries, Jailan Elsaid
The Impact Of Financial Inclusion On Inflation In The Mena Region: Oil Vs Non-Oil Countries, Jailan Elsaid
Theses and Dissertations
The study examines the impact of financial inclusion on inflation as a tool for monetary policy effectiveness in the MENA region, separating the analysis into oil and non-oil countries from 2004 to 2022. The Principal Component Analysis (PCA) technique is used to create a multidimensional index of financial inclusion through usage and access dimensions. Additionally, PVAR GMM estimation and Granger causality tests are implemented to analyze the dynamics and causality between financial inclusion and inflation, while controlling for other variables such as broad money, real effective exchange rate, and real GDP growth, which may influence the relationship according to the …
Bank Competition Amid Digital Disruption: Implications For Financial Inclusion, Erica Xuewei Jiang, Yang Gloria Yu, Jinyuan Zhang
Bank Competition Amid Digital Disruption: Implications For Financial Inclusion, Erica Xuewei Jiang, Yang Gloria Yu, Jinyuan Zhang
Sim Kee Boon Institute for Financial Economics
We study how digital disruption impacts bank competition, considering consumers’ heterogeneous digital preferences. We find that the rollout of 3G networks contracts bank branch networks and leads to divergence in branching and pricing strategies across banks. These developments benefit young consumers but increase the unbanked rate for poorer and older consumers. A structural model shows that the higher perceived digital quality by younger borrowers mainly prompts these adjustments, causing significant surplus losses for older savers. Counterfactual exercises illustrate that subsidizing older savers opting for mobile banking effectively offsets these disparities at minimal cost, facilitating a smoother digital transition.
Financial Inclusion In Indonesia: An Analysis Of Determinants Of Bank Account Ownership And Credit Access At Individual And Regional Levels, Rindi Ardika Melsalasa Sahputri, Sujarwoto Sujarwoto, Septiana Sihombing, Muhamad Galy Njoman
Financial Inclusion In Indonesia: An Analysis Of Determinants Of Bank Account Ownership And Credit Access At Individual And Regional Levels, Rindi Ardika Melsalasa Sahputri, Sujarwoto Sujarwoto, Septiana Sihombing, Muhamad Galy Njoman
Economics and Finance in Indonesia
Financial inclusion is widely recognized as a key driver of economic prosperity, yet many countries face considerable challenges in achieving it. This study empirically explores financial inclusion in Indonesia, focusing on bank account ownership and credit access, with the primary objective of identifying their determinants through a comparison of individual- and regional-level factors. Individual-level factors cover sociodemographic characteristics, poverty, and income inequality, while regional-level factors include regional economic development and financial infrastructure. Data were sourced from the National Socio-Economic Survey (SUSENAS) and the Village Potential Survey (PODES), consisting of 804,703 samples across 514 districts. A multilevel regression approach, using Generalized …
The Interaction Effects Of Fintech And Bank Lending On Growth: Evidence From The Asean Region, Tan Swee Liang
The Interaction Effects Of Fintech And Bank Lending On Growth: Evidence From The Asean Region, Tan Swee Liang
Research Collection School Of Economics
This study examined the interaction effects of traditional bank lending and emerging fintech credit on economic growth in six ASEAN economies from 2013 to 2020. Using a two-way fixed effects (FE) model and the panel-corrected standard error (PCSE) method, the study found a statistically significant and positive interaction effect between bank lending and fintech credit. Specifically, fintech credit became increasingly important in shaping economic growth as bank lending ratios exceeded a certain threshold. Countries with high bank lending ratios experienced greater GDP per capita growth when accompanied by greater fintech credit. These findings suggest that policies supporting fintech development alongside …
Impact Of Fiscal Policy On Financial Inclusion And Development In Nigeria, Okwanya Innocent, Taiwo A. Olusegun, Aimua E. Peace
Impact Of Fiscal Policy On Financial Inclusion And Development In Nigeria, Okwanya Innocent, Taiwo A. Olusegun, Aimua E. Peace
CBN Journal of Applied Statistics (JAS)
This paper examines the effect of fiscal policy on financial inclusion and development in Nigeria. The study employs the Autoregressive Distributed Lag (ARDL) model and impulse response function (IRF) to determine the extent and response of financial inclusion and development to fiscal policy changes in Nigeria. The study derives a financial inclusion index from three core indicators: access, usage and quality of financial services, while financial development is measured as the ratio of money supply to GDP (M2/GDP). The results show that government expenditure has a significant positive effect on financial inclusion and development, while tax revenue exerts a negative …
Financial Inclusion And Poverty Reduction In Nigeria: The Role Of Microfinance Institutions, Okwudili W. Ugwuoke, Oliver E. Ogbonna, Aye-Agele Freeman
Financial Inclusion And Poverty Reduction In Nigeria: The Role Of Microfinance Institutions, Okwudili W. Ugwuoke, Oliver E. Ogbonna, Aye-Agele Freeman
CBN Journal of Applied Statistics (JAS)
This study investigates the role of microfinance institutions as a vehicle for driving financial inclusion and alleviating poverty in Nigeria using the EFinA 2018 household survey data. The probit model, propensity score matching, and average treatment effect methods are applied for the analyses. The study finds that financial inclusion driven by access to, and usage of products/services provided by microfinance institutions reduces poverty. The study recommends among others the need for increased access to microfinance products/services and an integrated poverty reduction policies that identifies microfinance institutions as a critical enabler
The Effect Of Financial Inclusion On Food Security: Evidence From Developing And Developed Countries, Yasmin Yasmin, Sekar Utami Setiastuti
The Effect Of Financial Inclusion On Food Security: Evidence From Developing And Developed Countries, Yasmin Yasmin, Sekar Utami Setiastuti
Economics and Finance in Indonesia
This study investigates the global impact of financial inclusion on food security, with a focus on both developing and developed countries. The study constructs a financial inclusion index using the Sarma method and secondary data sourced from IMF and World Bank databases. System GMM is employed as the estimation method due to its effectiveness in addressing endogeneity issues and its efficient and consistent use of instruments. The analysis reveals that financial inclusion has a positive and statistically significant effect on food security across all research sub-samples. In addition, the study incorporates interaction variables between financial inclusion and the COVID-19 pandemic …
Sociodemographic Effects On Financial Inclusion: Implications From Online Transaction In Developing-8 Countries, Dyah Titis Kusuma Wardani, Navi'ah Khusniati, Susilo Nur Aji Cokro Darsono
Sociodemographic Effects On Financial Inclusion: Implications From Online Transaction In Developing-8 Countries, Dyah Titis Kusuma Wardani, Navi'ah Khusniati, Susilo Nur Aji Cokro Darsono
Economics and Finance in Indonesia
The world has reached the industry 4.0, where technological developments have been widely applied to electronic payment, with no exception on Muslim countries. This study aims to investigate association between sociodemographic and financial inclusion in country D-8 in the probability of using online financial transactions. Using The Global Findex 2017 from D-8 Organization for Economic Cooperation included in OIC countries and the logistic regression, this study explores the effect of sociodemographic namely gender, education, income status and working status on online financial transactions users. Using control variables such as Gross Domestic Product (GDP), Inflation and Exchange reta, results show that, …
Simultaneous Relationship Between Financial Inclusion, Economic Growth, And Income Inequality In Sulawesi Island, 2011-2019, Adella Siti Nursaliyawati, Siskarossa Ika Oktora
Simultaneous Relationship Between Financial Inclusion, Economic Growth, And Income Inequality In Sulawesi Island, 2011-2019, Adella Siti Nursaliyawati, Siskarossa Ika Oktora
Economics and Finance in Indonesia
Sulawesi Island has fairly high economic growth but is not followed by a significant decrease in income inequality. Therefore, a new strategy is needed to overcome these problems, one of them by increasing the role of the financial sector through financial inclusion. This study aims to analyze the relationship between financial inclusion, economic growth, and income inequality, as well as the factors influencing them in Sulawesi Island from 2011 to 2019. The analytical method used is the simultaneous equation model with panel data using the EC2SLS model. The results show that there is a simultaneous relationship between financial inclusion and …
An Ethnological Analysis Of The Influence Of Mobile Money On Financial Inclusion: The Case Of Urban Zambia, Edna Kabala, Rosemary Mapoma, Chitimba Nalutongwe, Diana Muyani, John Lungu
An Ethnological Analysis Of The Influence Of Mobile Money On Financial Inclusion: The Case Of Urban Zambia, Edna Kabala, Rosemary Mapoma, Chitimba Nalutongwe, Diana Muyani, John Lungu
Zambia Social Science Journal
The issue of access to financial products has been a public policy issue since 2005 when the first FinScope Zambia study was conducted. The 2015 study indicated that 40.7% of adults were financially excluded. This article investigates the influence of mobile money on financial inclusion using urban Kitwe and Kalulushi as case studies. We employ an ethnographic methodology to understand the extent to which mobile money has encouraged the unbanked population to access financial products and services. The findings indicate that mobile money has a positive influence on financial inclusion. It is easier to open accounts with mobile money kiosks …
Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu
Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu
Bullion
Financial Technology is becoming paramount in all financial institutions, being utilized in helping companies manage most of their financial operations efficiently through the use of software and specialized algorithms. The future of finance will shine brightest when it provides standard and valuable services to the society, however this will come with its own merits and demerits. I have prepared this report to carry out a detailed discussion on the impact that the AML/CFT controls have on FinTech and the financial inclusion initiative in sub-Saharan Africa. The AML/CFT controls can be applied more effectively in the formal systems for banking and …
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Bullion
This study investigates the relationship between financial deepening and socioeconomic development in Nigeria. The specific objectives examined the impacts of broad money supply, private sector credit and financial openness on human development index in Nigeria from 1991 to 2018. Time series data on each of the variables were analyzed using Fully Modified Least Squares and Granger Causality test. The unit root test results revealed that all the variables in the model became stationary after first difference and are all I (1). The cointegration test result revealed that the variables had long run relationships. The cointegrating regression result indicated that broad …
Utilizing Blockchain Trade Finance To Promote Financial Inclusion, Bryce Ciccaglione
Utilizing Blockchain Trade Finance To Promote Financial Inclusion, Bryce Ciccaglione
Honors Scholar Theses
This paper examines the use of blockchain, or distributed ledger, technology for the potential supplantation of the antiquated process of international trade financing. Using the technology for this purpose has the potential to narrow the enormous gap in unmet demand for trade finance experienced by small-and medium-sized enterprises in the developing world. The current process of trade finance is still paper-based and relies heavily on manual labor. After the 2008 Global Financial Crisis, banks became restrictive in their lending, especially to small-and medium-sized enterprises in developing countries, leading to the aforementioned trade finance gap. Blockchain technology could narrow this gap …
Microfinance, Msmes And The Macro Economy: Evidence From India, Monica Casabona
Microfinance, Msmes And The Macro Economy: Evidence From India, Monica Casabona
Honors College Theses
Much of prior literature on the relationship between microfinance and the macro-economy has focused on the effect of the latter in determining the success of microfinance institutions (MFIs). However, the microfinance industry has been underserved in studies evaluating microfinance as a legitimate contributor toward macro-economic growth. Researching this connection would provide a clearer direction for policymakers to support microfinance, and the institutions that foster such activities. This paper investigates the hypothesis that microfinance is not only important to the people at the bottom of the socio-economic pyramid, but for the overall health of a national economy. We explore different mechanisms …
Understanding The Racial/Ethnic Gap In Bank Account Ownership Among Older Adults, Luisa Blanco, Marco Angrisani, Emma Aguila, Mei Leng
Understanding The Racial/Ethnic Gap In Bank Account Ownership Among Older Adults, Luisa Blanco, Marco Angrisani, Emma Aguila, Mei Leng
School of Public Policy Working Papers
The observed racial/ethnic gap in bank account ownership among older adults is substantial. We investigate socio-economic, cognitive and cultural barriers underling it. As additional potential barriers are accounted for, the residual gaps in financial inclusion with respect to Whites is reduced by 19 percent for Blacks and 46 percent for Hispanics. We find that citizenship and “taste for privacy” play a limited role for both minority groups, while real asset ownership, health, cognitive ability and cultural hurdles contribute substantially to the gap. For Hispanics, language barriers explain most of the gap, while neighborhood-level socioeconomic characteristics are more salient for Blacks. …
Financial Crisis, Inclusion And Economic Development In The Us And Oic Countries, Shadiya T. Hossain
Financial Crisis, Inclusion And Economic Development In The Us And Oic Countries, Shadiya T. Hossain
LSU New Orleans Theses and Dissertations
The following dissertation contains two distinct empirical essays which contribute to the overall field of Financial Economics. Chapter 1, entitled “Financial Inclusion and Economic Development in OIC Member Countries,” examines whether the presence of Islamic finance promotes development and alleviates poverty. To do so, we estimate the influence of financial inclusion variables on development and poverty variables for OIC countries. Using data from the World Bank, we use dynamic panel analysis using methodology similar to Beck et al (2000) to study the effects of financial inclusion on economic development and use simple cross-sectional analysis similar to Beck et al (2004) …
Financial Inclusion In Nigeria: Measurements And Lessons, David Olu Ajakaiye, Afolabi Olowookere
Financial Inclusion In Nigeria: Measurements And Lessons, David Olu Ajakaiye, Afolabi Olowookere
Bullion
The operations of financial systems are crucial to people’s savings, credit, payment and risk management needs. More importantly, the inclusiveness of this system tends to benefit the poor and other disadvantaged groups in the society (Demirguckunt and Klapper, 2012). In the definition of the Centre for Financial Inclusion, “Full Financial Inclusion is a state in which all people who can use them have access to a suite of quality financial services, provided at affordable prices, in a convenient manner, and with dignity for the client” (Gardeva and Rynne, 2011). This entails building a financial system that serves as many people …
Communicating Financial Inclusion Policy In Nigeria: The Role Of The Media, Frank Aigbogun
Communicating Financial Inclusion Policy In Nigeria: The Role Of The Media, Frank Aigbogun
Bullion
The Central Bank of Nigeria (CBN) has shown great foresight in the effort to ensure that greater numbers of Nigerians that are currently financially excluded are brought into the fold, through effective policy initiatives that are hinged on global best practices. For instance, in 2012 the Bank incorporated information and knowledge that will eventually lead to the formulation to amend existing regulatory frameworks, including recommendations on microfinance, mobile financial services (MFS) and agent banking. The CBN’s aim of educating and imparting skills on financial system inclusion to journalists who through their media would inform the general public about this all-important …
The Role Of Financial Literacy And Consumer Protection In Fostering Financial Inclusion, Dutse Umma
The Role Of Financial Literacy And Consumer Protection In Fostering Financial Inclusion, Dutse Umma
Bullion
The objective of this paper is to establish the link on how financial consumer protection efforts and financial literacy initiatives help bring people on board the formal financial system. Among the key mandate of the Central Bank of Nigeria (CBN) is the promotion of a sound financial system, while a stable financial system cannot be easily captured in a few words, the attributes that could be demonstrated in a system that is described as financially stable will include public confidence and trust in the institutional framework. Financial stability, therefore, serves to instill confidence in users of financial services. It encourages …
Viable Agent Banking And Mobile Payment System In Nigeria, Fatokun Dipo
Viable Agent Banking And Mobile Payment System In Nigeria, Fatokun Dipo
Bullion
Agent banking and Mobile payments, especially in developing economies are rapidly evolving and having tremendous impact on the economies and lives of its citizenry. In addition to reducing costs, these new service offering channel help to encourage customers to use financial services more often, as locations are close by and in places where the customers are familiar with. In light of the afore-mentioned, the Central Bank of Nigeria noted the rapid growth of mobile telephony and the need to leverage existing business network infrastructure as a practical and well thought-out strategy for driving financial inclusion of the unbanked in Nigeria.
The People's Bank Of Nigeria: Review And Update, J. A. Babalola
The People's Bank Of Nigeria: Review And Update, J. A. Babalola
Bullion
The paper reviews the establishment of the People's Bank in Nigeria. The paper is divided into five sections, Section one gives background to the establishment of the People's Bonk in Nigeria, section two discusses the concept and operational features of the Bank, section three appraises the operations, section four looks at the likely problems the Bank may face, while Section five discuses the prospects and conclude the Paper.