Mobile money as a financial inclusion instrument: what are the determinants?
Anthony Amoah (aamoah@central.edu.gh),
Kofi Korle and
Rexford Kweku Asiama
International Journal of Social Economics, 2020, vol. 47, issue 10, 1283-1297
Abstract:
Purpose - This paper seeks to examine the motivating factors that propel people to use mobile money in the Greater Accra Region (GAR) of Ghana. The authors posit that the behaviour of a person, in terms of the choice and means of transaction, cannot be explained solely by utility-maximizing assumptions or rationality. Thus, other socio-cultural and psychological factors are crucial in determining whether a person will use mobile money. Design/methodology/approach - This study uses a cross-sectional design to obtain primary data on 733 households from the GAR of Ghana to determine the drivers of mobile money use. Given the binary nature of the dependent variable, a logit model and its marginal effects are estimated. Furthermore, parametric and non-parametric statistical tests are used to examine gender effect and mobile money use. Findings - The study finds that technology savvy cohorts (youthful age cohorts), available services such as phone credit recharge, education and income are among the key determinants of mobile money use in Ghana. Furthermore, parametric and non-parametric tests of mobile money use on gender show a statistically significant difference in gender use of mobile money, albeit, marginal. The findings imply that consistent use of mobile money to access social and economic services can go a long way in promoting financial inclusion, financial empowerment and general wellbeing of people. Originality/value - Households in developing countries especially Ghana have rapidly embraced mobile money technology. However, what determines the household level of adoption, to the best of our knowledge, is unknown and yet to be tested. This study bridges that gap in the empirical literature as well as contributes to policy decisions. Peer review - The peer review history for this article is available at:https://publons.com/publon/10.1108/IJSE-05-2020-0271
Keywords: Mobile money adoption; Financial inclusion; Determinants; Ghana; Logit regression (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (13)
Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eme:ijsepp:ijse-05-2020-0271
DOI: 10.1108/IJSE-05-2020-0271
Access Statistics for this article
International Journal of Social Economics is currently edited by Professor Terence Garrett
More articles in International Journal of Social Economics from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support (feeds@emerald.com).