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Using multiple correspondence analysis for finance: A tool for assessing financial inclusion

Mardi Dungey, Firmin Doko Tchatoka () and María B. Yanotti

International Review of Financial Analysis, 2018, vol. 59, issue C, 212-222

Abstract: This paper introduces multiple correspondence analysis (MCA) to the literature on financial product choice. MCA is a useful way of assessing the typology of actual or potential consumers, which can then be used to assess the extent to which existing products cover consumer needs. Given the importance of the financial inclusion agenda, this provides a useful means of detecting areas of financial under-servicing. An illustration using bank mortgage data shows how some groups are well-serviced, but others suffer from mismatch between the characteristics of the available and desirable products.

Keywords: Multiple correspondence analysis; Cluster analysis; Mortgage choice (search for similar items in EconPapers)
JEL-codes: G21 R20 D81 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1016/j.irfa.2018.08.007

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