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Assessment of the financial inclusion–gender–welfare nexus among smallholder maize farmers in Nigeria

Author

Listed:
  • Ayinde, O. E.
  • Olarewaju, A. O.
  • Miranda, M. J.
  • Omotesho, K. F.
  • Ayinde, K.

Abstract

This study investigates the relationships between financial inclusion, gender and household welfare. We used baseline data collected from a randomised control trial survey of maize farmers in Nigeria and computed multidimensional indices for financial inclusion and farmers’ household welfare. These indices were then used in a robust seemingly unrelated regression (SUR) model to determine the influence of financial inclusion on farmers’ welfare, differentiated by gender. The results of the study show that male-headed households are more financially included and have better welfare status than female-headed households, and that financial inclusion significantly influences the welfare status of farmers. The results also suggest that enhanced financial inclusion increases the likelihood of improving consumption expenditure, employment, assets and social amenities. Thus, the study recommends implementing policies that contribute to increasing financial inclusion and improving the welfare status of farmers.

Suggested Citation

  • Ayinde, O. E. & Olarewaju, A. O. & Miranda, M. J. & Omotesho, K. F. & Ayinde, K., 2023. "Assessment of the financial inclusion–gender–welfare nexus among smallholder maize farmers in Nigeria," African Journal of Agricultural and Resource Economics, African Association of Agricultural Economists, vol. 18(3), March.
    • Handle: RePEc:ags:afjare:342059
    DOI: 10.22004/ag.econ.342059
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    References listed on IDEAS

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    1. Mario Miranda & Dmitry V. Vedenov, 2001. "Innovations in Agricultural and Natural Disaster Insurance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(3), pages 650-655.
    2. Elinor Benami & Michael R. Carter, 2021. "Can digital technologies reshape rural microfinance? Implications for savings, credit, & insurance," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(4), pages 1196-1220, December.
    3. Olayinka O. Adegbite & Charles L. Machethe & C. Leigh Anderson, 2021. "Revisiting the measurement of financial inclusion of rural smallholder farmers in Nigeria," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 81(4), pages 554-567, January.
    4. Md Abdullah Omar & Kazuo Inaba, 2020. "Does financial inclusion reduce poverty and income inequality in developing countries? A panel data analysis," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 9(1), pages 1-25, December.
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