Financial Inclusion and Digital Financial Services: Empirical evidence from Ghana

Francis Agyekum, Stuart Locke and Nirosha Wellalage ()

MPRA Paper from University Library of Munich, Germany

Abstract: The paper examines the relationship between increasing accessibility to digital financial services (DFS) and financial inclusion in lower income countries (LICs). Banks and non-bank organisations use DFS and the analysis indicates non-bank-based DFS emerges as the most efficient means of delivering cost effective financial services to the previously unbanked. Mobile cellular penetration and internet usage are mutually inclusive means through which digital financial services foster financial inclusion. Analysis of data for Ghana, as a case study, uses ordinary least squares and logistic regression models. The results in Difference-In-Difference method confirms the positive significant trend of mobile money usage and negative trend of bank-based DFS facilities over the period 2011-2014 in Ghana. Unambiguous policy ramifications are emphasised, paying attention to technological deepening stimulate positive outcomes of a broader and inclusive financial system.

Keywords: Digital financial services (DFS); financial inclusion; Logistic regression; Difference-in-Difference; LICs; Ghana. (search for similar items in EconPapers)
JEL-codes: G2 O30 O5 (search for similar items in EconPapers)
Date: 2016-11-30, Revised 2017-05-15
New Economics Papers: this item is included in nep-fle and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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