DETERMINANTS OF FINANCIAL INCLUSION IN AFRICA AND OECD COUNTRIES
DETERMINANTS OF FINANCIAL INCLUSION IN AFRICA AND OECD COUNTRIES
| Author(s): |
Samuel Fiifi Eshun (MCom),
prof. Ing. Evžen Kočenda Ph.D., DSc. |
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| Type: |
IES Working Papers |
| Year: |
2023 |
| Number: |
18 |
| ISSN / ISBN: |
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| Published on: |
IES Working Papers 18/2023 |
| Publishing place: |
Praha |
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Financial Inclusion, Financial Inclusion Index, Sub-Saharan Africa (SSA), Organization for Economic Co-operation and Development (OECD), System Generalized Methods of Moments (GMM) |
| JEL codes: |
C23, E44, F65, G21, O16, O57 |
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Eshun S.F., Kočenda E. (2023): "Determinants of Financial Inclusion in Africa and OECD Countries" IES Working Papers 6/2023. IES FSV. Charles University. |
| Abstract: |
Using a dynamic panel data analysis, we explore the factors influencing financial inclusion in Sub-Saharan Africa (SSA) and countries belonging to the Organization for Economic Co-operation and Development (OECD). We employ the System Generalized Method of Moments (GMM) estimator and assess 31 SSA and 38 OECD countries from 2000-2021. We found that the differences in trade openness, banks' efficiency, income, and remittances are some macro-level factors that explain the variation in financial inclusion levels. We highlight the importance of quality literacy policies, trade improvement with restrictions on cross-border capital flows, and a more efficient financial system to promote financial inclusion. |
| Downloadable: |
wp_2023_18_eshun, kocenda.pdf |
