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Identification of Barriers to Financial Inclusion Among Youth

Author

Listed:
  • Amra Babajic
  • Jasmina Okicic
  • Meldina Kokorovic Jukan

Abstract

In recent years there is an increasing research attention on youth and their transition to adulthood. In that transition they have increasing demand for financial products and services. If they are not financial included it may leave long-lasting consequences for their future independence and stability. The main goal of this research is to investigate and explain barriers to poor financial inclusion of youth in Federation of Bosnia and Herzegovina (FBiH), and make some recommendations for increasing their financial inclusion, and indirectly for strengthening their social inclusion. Implications of this study suggest that the main reason for being unbanked is because someone else in the family already has an account, or because they do not have enough money to use services of financial institutions. The results have revealed statistically significant relation between need for financial services at a formal institution and having a bank account, category of students’ financial knowledge and having a bank account, having a debit card and having a credit card. Research results can serve the economic and social policy makers in the FBiH in policy and strategy design.

Suggested Citation

  • Amra Babajic & Jasmina Okicic & Meldina Kokorovic Jukan, 2018. "Identification of Barriers to Financial Inclusion Among Youth," International Business Research, Canadian Center of Science and Education, vol. 11(7), pages 120-129, July.
    • Handle: RePEc:ibn:ibrjnl:v:11:y:2018:i:7:p:120-129
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    References listed on IDEAS

    as
    1. Alfred Hannig & Stefan Jansen, 2010. "Financial Inclusion and Financial Stability : Current Policy Issues," Finance Working Papers 23124, East Asian Bureau of Economic Research.
    2. Asli Demirguc-Kunt & Leora Klapper, 2013. "Measuring Financial Inclusion: Explaining Variation in Use of Financial Services across and within Countries," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(1 (Spring), pages 279-340.
    3. Hannig, Alfred & Jansen, Stefan, 2010. "Financial Inclusion and Financial Stability: Current Policy Issues," ADBI Working Papers 259, Asian Development Bank Institute.
    4. World Bank, 2013. "Inclusion Matters : The Foundation for Shared Prosperity [Inclusión social : clave de la prosperidad para todos - resumen]," World Bank Publications - Books, The World Bank Group, number 16195.
    5. Noelia Cámara & David Tuesta, 2018. "Measuring financial inclusion: a multidimensional index," IFC Bulletins chapters, in: Bank for International Settlements (ed.), The role of data in supporting financial inclusion policy, volume 47, Bank for International Settlements.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Jasmina Okicic & Meldina Kokorovic Jukan & Mensur Heric, 2021. "Some Insights Into Financial Literacy Among Undergraduate Students: A Case of Bosnia and Herzegovina," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(3), pages 103-115, May.

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    More about this item

    Keywords

    financial inclusion; measurement of financial knowledge; youth;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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