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Financial Inclusion: Globally Important Determinants

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  • Ozili Peterson K.

    (Central Bank of Nigeria, Abuja, Nigeria)

Abstract

This paper highlights the globally-important determinants of financial inclusion. The determi-nants identified in this paper are formal account ownership; demand for formal savings; demand for formal borrowing; financial literacy and education; debit and credit card usage; the need to receive remittances from family and friends; size of the financial system; number of automated teller machines (ATMs); number of bank branches; proximity to a bank; availability and access to mobile phones; availability of digital financial products and services; technology infrastructure; government policy; culture and traditional belief systems; national financial inclusion strategy and implementation; and direct legislation.

Suggested Citation

  • Ozili Peterson K., 2021. "Financial Inclusion: Globally Important Determinants," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 17(4), pages 1-11, December.
    • Handle: RePEc:vrs:finiqu:v:17:y:2021:i:4:p:1-11:n:3
    DOI: 10.2478/fiqf-2021-0023
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    References listed on IDEAS

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    1. Chauvet, Lisa & Jacolin, Luc, 2017. "Financial Inclusion, Bank Concentration, and Firm Performance," World Development, Elsevier, vol. 97(C), pages 1-13.
    2. Allen, Franklin & Demirguc-Kunt, Asli & Klapper, Leora & Martinez Peria, Maria Soledad, 2016. "The foundations of financial inclusion: Understanding ownership and use of formal accounts," Journal of Financial Intermediation, Elsevier, vol. 27(C), pages 1-30.
    3. Shijun Chai & Yang Chen & Bihong Huang & Dezhu Ye, 2019. "Social networks and informal financial inclusion in China," Asia Pacific Journal of Management, Springer, vol. 36(2), pages 529-563, June.
    4. Chai, Shijun & Chen, Yang & Huang, Bihong & Ye, Dezhu, 2016. "Social networks and informal financial inclusion," RIEI Working Papers 2016-04, Xi'an Jiaotong-Liverpool University, Research Institute for Economic Integration.
    5. Mr. Adolfo Barajas & Thorsten Beck & Mohammed Belhaj & Sami Ben Naceur, 2020. "Financial Inclusion: What Have We Learned So Far? What Do We Have to Learn?," IMF Working Papers 2020/157, International Monetary Fund.
    6. Joseph Boniface Ajefu & Joseph O. Ogebe, 2019. "Migrant remittances and financial inclusion among households in Nigeria," Oxford Development Studies, Taylor & Francis Journals, vol. 47(3), pages 319-335, July.
    7. Pierre Bachas & Paul Gertler & Sean Higgins & Enrique Seira, 2018. "Digital Financial Services Go a Long Way: Transaction Costs and Financial Inclusion," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 444-448, May.
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    Cited by:

    1. Djedjiga Kachenoura, & David Chetboun, & Marine Lagarde, & Laurent Mélère, & Damien Serra, 2024. "Les politiques financières et réglementaires face aux enjeux climatiques," Working Paper 7d0f431a-f29c-43aa-8618-9, Agence française de développement.
    2. Damane, Moeti & Ho, Sin-Yu, 2024. "Effects of financial inclusion on financial stability: evidence from ssa countries," MPRA Paper 120238, University Library of Munich, Germany.
    3. Yang, Fan & Masron, Tajul Ariffin, 2024. "Role of financial inclusion and digital transformation on bank credit risk," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    4. Sant'Anna, Dário A.L.M. & Figueiredo, Paulo N., 2024. "Fintech innovation: Is it beneficial or detrimental to financial inclusion and financial stability? A systematic literature review and research directions," Emerging Markets Review, Elsevier, vol. 60(C).

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    More about this item

    Keywords

    financial inclusion; determinants; unbanked adults; access to finance; digital finance; financial literacy;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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