Women digital financial inclusion and economic growth in Nigeria

Peterson Ozili

Journal of Internet and Digital Economics, 2024, vol. 4, issue 3, 161-178

Abstract: Purpose - This article analyses the trend in women digital financial inclusion in Nigeria using some digital financial inclusion indicators obtained from the global Findex database for the year 2014, 2017 and 2021. The study also analyses the relationship between women digital financial inclusion and economic growth. Design/methodology/approach - The data were analysed using the two-stage least squares (2SLS) and generalised method of moments (GMM) regression estimation methods. The women digital financial inclusion indicators are the percentage of women who (1) own a mobile money account, (2) made a digital payment, (3) received digital payments, (4) made or received a digital payment, (5) own a credit card and (6) own a debit card. Findings - The trend analysis shows a sustained, although small, improvement in women mobile money account ownership during the period, while the other indicators witnessed a decrease in 2017 and an increase in 2021, except for women credit card ownership which remained at the same level during the period examined. There is a significant positive relationship between women digital financial inclusion and economic growth. Internet usage has a significant positive effect on women digital financial inclusion in Nigeria. Practical implications - Greater digital financial inclusion for women can accelerate economic growth in Nigeria. Policymakers should encourage investment in fintech and broaden access to the Internet to increase women digital financial inclusion and economic growth in Nigeria. Policymakers and practitioners in Nigeria should also work collaboratively to increase digital financial inclusion for women due to its potential to increase economic growth in Nigeria. Originality/value - Existing studies did not analyse the trends in women digital financial inclusion. Existing studies did not empirically analyse the impact of women digital financial inclusion on economic growth in Nigeria. The present study fills this gap in the literature.

Keywords: Digital financial inclusion; Digital finance; Financial inclusion; Nigeria; Economic growth (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jidepp:jide-07-2024-0027

DOI: 10.1108/JIDE-07-2024-0027

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