The Cryptocurrencies in Emerging Markets: Enhancing Financial Inclusion and Economic Empowerment

Mohammad El Hajj () and Imad Farran
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Mohammad El Hajj: Business School, Holy Spirit University of Kaslik, Jounieh P.O. Box 446, Lebanon
Imad Farran: Faculty of Business Administration, City University, Abou Samra, Tripoli P.O. Box 676, Lebanon

JRFM, 2024, vol. 17, issue 10, 1-27

Abstract: The present study discusses how adopting cryptos affects financial inclusion in developing economies. Primary constructs like financial inclusion (FI), perceived economic empowerment (PEE), trust in financial institutions (TFI), user satisfaction (US), and cryptocurrency adoption (CA) were tested through Structural Equation Modeling (SEM). The results indicated that CA significantly and positively influenced FI, US, TFI, and PEE. These relationships extend to the interaction effects: US, TFI, and PEE, all positively related to FI. This is a reflection of cryptocurrencies as an opportunity to redress most of the afflictions characteristic of traditional finance systems and to promote financial inclusion and economic empowerment in developing countries. Future research should also investigate whether digital literacy and regulatory environments support cryptocurrency access.

Keywords: cryptocurrency adoption; financial inclusion; emerging markets; economic empowerment; Structural Equation Modeling (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2024
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