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On the diffusion of mobile phone innovations for financial inclusion

Simplice Asongu (), Nicholas Biekpe and Danny Cassimon ()

No 20/041, Working Papers of the African Governance and Development Institute. from African Governance and Development Institute.

Abstract: “Replications are an important part of the research process because they allow for greater confidence in the findings” (McEwan, Carpenter & Westerman, 2018, p. 235). This study extends Lashitew, van Tulder and Liasse (2019, RP) by addressing the concern of multicollinearity that affects the signs and significance of estimated coefficients. This article investigates nexuses between innovations in mobile money and financial inclusion in developing countries. Demand and supply factors that affect the diffusion of mobile services as well as macro-level institutional and economic factors are taken on board. The empirical evidence is based on Tobit regressions. The study finds that when the empirical analysis is robust to multicollinearity, two main tendencies are apparent: the significant findings of Lashitew et al. (2019) are confirmed and many new significant estimated coefficients emerge. While this study confirms the findings of the underlying research, it also goes further to improve the harmony in narratives between the predictors and the outcome variables. Accordingly, by accounting for multicollinearity, the earlier findings are now more consistent across the set of predictors (i.e. demand and supply factors) and the attendant financial inclusion outcomes (i.e. mobile money accounts, mobile used to send money and mobile used to receive money).

Keywords: Mobile money; technology diffusion; financial inclusion; inclusive innovation (search for similar items in EconPapers)
JEL-codes: D10 D14 D31 D60 O30 (search for similar items in EconPapers)
Pages: 21
Date: 2020-03
New Economics Papers: this item is included in nep-fle and nep-pay
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Related works:
Journal Article: On the diffusion of mobile phone innovations for financial inclusion (2021) Downloads
Working Paper: On the diffusion of mobile phone innovations for financial inclusion (2021) Downloads
Working Paper: On the diffusion of mobile phone innovations for financial inclusion (2020) Downloads
Working Paper: On the diffusion of mobile phone innovations for financial inclusion (2020) Downloads
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