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Financial inclusion and energy poverty reduction in sub-Saharan Africa

Author

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  • Said, Rabie
  • Acheampong, Alex O.

Abstract

This study examines the relationship between financial inclusion and energy poverty reduction, proxied with access to electricity and clean cooking technologies and fuels, using data from 23 Sub-Saharan African (SSA) countries from 2004 to 2019. Evidence from dynamic ordinary least squares, fully modified ordinary least squares, and canonical correlation regression techniques showed that financial inclusion significantly reduces energy poverty in SSA. However, financial inclusion's impact on energy poverty reduction differs significantly among individual SSA countries. We recommend that policies promoting financial inclusion would reduce energy poverty.

Suggested Citation

  • Said, Rabie & Acheampong, Alex O., 2023. "Financial inclusion and energy poverty reduction in sub-Saharan Africa," Utilities Policy, Elsevier, vol. 82(C).
    • Handle: RePEc:eee:juipol:v:82:y:2023:i:c:s0957178723000796
    DOI: 10.1016/j.jup.2023.101567
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    Cited by:

    1. Acheampong, Alex O. & Nghiem, Xuan-Hoa & Dzator, Janet & Rajaguru, Gulasekaran, 2023. "Promoting energy inclusiveness: Is rural energy poverty a political failure?," Utilities Policy, Elsevier, vol. 84(C).
    2. Bosah, Philip Chukwunonso & Li, Shixiang & Ampofo, Gideon Kwaku Minua, 2024. "Natural resource rents and financial inclusion nexus: Evidence from Africa," Resources Policy, Elsevier, vol. 94(C).

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    More about this item

    Keywords

    Financial inclusion; Energy poverty; Sub-saharan africa; Panel data;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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