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Financial inclusion and women economic empowerment in Ghana

Author

Listed:
  • Zelu, Barbara Ama
  • Iranzo, Susana
  • Perez-Laborda, Alejandro

Abstract

Although the impact of micro-credit and direct cash transfers on women economic empowerment has been extensively studied, the impact of having access to a bank account remains relatively understudied. This paper uses a detailed national representative dataset of female household heads in Ghana to analyze the relation between access to formal and informal financial accounts and women's economic empowerment. Using propensity score matching, our results elicit that women who have a financial account are more likely to be employed and tend to have higher income. The results are mainly driven by ownership of a formal account (i.e., in a commercial bank) while the impact of informal account ownership is not statistically significant. Thus our findings call for higher promotion of formal banking, particularly among women in rural and poorer areas where financial inclusion is lower.

Suggested Citation

  • Zelu, Barbara Ama & Iranzo, Susana & Perez-Laborda, Alejandro, 2024. "Financial inclusion and women economic empowerment in Ghana," Emerging Markets Review, Elsevier, vol. 62(C).
    • Handle: RePEc:eee:ememar:v:62:y:2024:i:c:s1566014124000852
    DOI: 10.1016/j.ememar.2024.101190
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    More about this item

    Keywords

    Financial inclusion; Women; Economic empowerment; Bank accounts; Ghana;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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