Does Financial Literacy Improve Financial Inclusion? Cross Country Evidence

Theres Klühs, Antonia Grohmann and Lukas Menkhoff

VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association

Abstract: We study the effect of financial literacy on financial inclusion at the cross country level. Financial literacy is strongly related to higher financial inclusion (i.e. access and use of fin. services) and IV-regressions support a causal interpretation.Studying heterogeneous effects of financial literacy across countries shows that the marginal effect of financial literacy on financial inclusion is largest in countries with lower income, a less developed financial sector, and fewer bank branches.

JEL-codes: E44 G21 O1 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-cfn, nep-fle, nep-mac and nep-pay
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Citations: View citations in EconPapers (8)

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Related works:
Journal Article: Does financial literacy improve financial inclusion? Cross country evidence (2018)
Journal Article: Does financial literacy improve financial inclusion? Cross country evidence (2018)
Working Paper: Does Financial Literacy Improve Financial Inclusion? Cross Country Evidence (2018)
Working Paper: Does Financial Literacy Improve Financial Inclusion? Cross Country Evidence (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168165

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