Reaching Financial Inclusion: Necessary and Sufficient Conditions

Helena Susana Amaral Geraldes (), Ana Paula Matias Gama () and Mário Augusto ()
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Helena Susana Amaral Geraldes: Research Center in Business Science (NECE)
Ana Paula Matias Gama: Research Center in Business Science (NECE)
Mário Augusto: CeBER, Faculty of Economics

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2022, vol. 162, issue 2, No 5, 599-617

Abstract: Abstract Financial inclusion is a vital development policy concern; different combinations and conditions of access to (supply) and use of (demand) financial services may predict levels of financial inclusion. With a fuzzy set qualitative comparative analysis, conducted across 61 countries worldwide, the current research establishes that financial literacy and human development are conditions of high financial inclusion; supply-side drivers, such as bank concentration and bank branches, represent substitutive conditions for attaining high levels of financial inclusion. With separate analyses of a split sample, designating developed and developing countries, the authors also determine that the absence of financial literacy and human development, as demand-side drivers, leads to diminished financial inclusion for both sets of countries. In turn, this research offers novel ideas for achieving more efficient policies to prompt financial inclusion.

Keywords: Financial inclusion; Financial literacy; Human development; Financial infrastructure (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s11205-021-02850-0

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