Financial Inclusion Measurement in the Least Developed Countries in Asia and Africa

Alicia Girón (), Amirreza Kazemikhasragh, Antonella Francesca Cicchiello () and Eva Panetti ()
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Alicia Girón: University Program of Studies On Asia and Africa (PUEAA), National Autonomous University of Mexico (UNAM)
Antonella Francesca Cicchiello: Università Cattolica del Sacro Cuore
Eva Panetti: Università Degli Studi Di Napoli Parthenope

Journal of the Knowledge Economy, 2022, vol. 13, issue 2, No 17, 1198-1211

Abstract: Abstract The purpose of this paper is to examine the determinants of financial inclusion in the least developed countries in Asia and Africa. We used World Bank data to estimate the probit econometric technique in the studied countries. The results show that young people and women are groups excluded from financial inclusion and that education and income are two of the key pillars for increasing financial inclusion. Furthermore, the results reveal that a higher level of financial inclusion increases the level of official savings in countries, which in turn promotes their development. The findings of this study are beneficial for policymakers in the least developed countries to promote innovative approaches to enhance the involvement of excluded people in formal finance.

Keywords: Financial inclusion; Gender; Development; financial institutions (search for similar items in EconPapers)
JEL-codes: G21 J16 O16 O23 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s13132-021-00773-2

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