Policy Impact of Exchange Rate Regimes on Financial Inclusion: Global Empirical Evidence and Causal Effects

Ilias Chiboub and Hicham Sadok ()
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Hicham Sadok: University Mohammed V, Rabat, Morocco

Working Papers from HAL

Abstract: We assess the policy impact of exchange rate regimes on financial inclusion using rigorous econometric methods. Logit regressions examine associations between regime policies and inclusion, while panel fixed effects identify transmission channels through inflation, capital openness, and financial infrastructure. A Difference-inDifferences design evaluates the causal effect of transitioning to a floating regime. Results show that fixed regimes are negatively associated with financial inclusion, whereas floating regimes show positive effects. Financial infrastructure is the strongest positive channel. The Difference-inDifferences indicates higher inclusion in countries transitioning to floating regimes. Our study offers policymakers innovative insights for designing policies that enhance financial inclusion.

Date: 2026-08-30
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-05731524

DOI: 10.2139/ssrn.6730220

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