Mediating effect of financial inclusion on FinTech innovations and economic development in West Africa: Evidence from the Benin Republic

Guillaume Edou Tchidi and Wei Zhang

International Journal of Finance & Economics, 2025, vol. 30, issue 2, 1032-1048

Abstract: Studies from previous literature has exhausted the direct relationship between FinTech innovations and economic development with mixed findings. Thus, the current study investigates the mediating effect of financial inclusion on FinTech innovations and economic development in the Benin Republic. The study is survey research that used a questionnaire from bank customers and residents of suburb areas with a sample size of 357 respondents. The study employed a regression‐based data analysis technique using SPSS and SEM‐PLS 3 software. The results indicate a positive and significant relationship between FinTech and economic development. In addition, there is a positive and significant association between financial inclusion and economic development. The study also reports a positive and significant mediating role of financial inclusion in the relationship between financial technology and economic development. Consequently, the research confirms that financial inclusion serves as a crucial mechanism through which financial technology influences economic development. In light of these findings, it is recommended that efforts to enhance financial inclusion in the Benin Republic should specifically focus on fostering FinTech innovations to support sustainable economic development.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:wly:ijfiec:v:30:y:2025:i:2:p:1032-1048

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