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Spatial Determinants of Financial Inclusion over Time

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  • Ibrahim Bozkurt
  • Rıfat Karakuş
  • Melek Yildiz

Abstract

This paper investigates the factors generating changes in the financial inclusion levels based on data from 120 countries for 2011 and 2014. After calculating the index of financial inclusion across countries, we find evidences on the presence of spatial dependencies by using the Global Moran's I and local indicators of spatial association analyses. Then, we employ spatial regression and spatial panel data models that control for spatial interdependence. The results show that social, banking and political factors play an important role in the determination of change in financial inclusion. We also find financial inclusion convergence among the countries. Copyright © 2018 John Wiley & Sons, Ltd.

Suggested Citation

  • Ibrahim Bozkurt & Rıfat Karakuş & Melek Yildiz, 2018. "Spatial Determinants of Financial Inclusion over Time," Journal of International Development, John Wiley & Sons, Ltd., vol. 30(8), pages 1474-1504, November.
    • Handle: RePEc:wly:jintdv:v:30:y:2018:i:8:p:1474-1504
    DOI: 10.1002/jid.3376
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    1. Kuldeep Singh & Madhvendra Misra & Jitendra Yadav, 2021. "Corporate social responsibility and financial inclusion: Evaluating the moderating effect of income," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(5), pages 1263-1274, July.
    2. Byron Quito & María de la Cruz del Río-Rama & Marta Peris-Ortiz & José Álvarez-García, 2024. "Spatial-Temporal Determinants of Income Inequality in the Cantons of Ecuador between 2010 and 2019: a Spatial Panel Econometric Analysis," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 7744-7768, June.
    3. Murshed, Muntasir & Ahmed, Rizwan & Al-Tal, Raad Mahmoud & Kumpamool, Chamaiporn & Vetchagool, Witchulada & Avarado, Rafael, 2023. "Determinants of financial inclusion in South Asia: The moderating and mediating roles of internal conflict settlement," Research in International Business and Finance, Elsevier, vol. 64(C).
    4. Ha, Le Thanh, 2022. "Effects of digitalization on financialization: Empirical evidence from European countries," Technology in Society, Elsevier, vol. 68(C).
    5. Juan Antonio González Sierra & Carla Carolina Pérez Hernández & Jessica Mendoza Moheno, 2023. "Inclusión financiera y complejidad económica en México," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 18(2), pages 1-25, Abril - J.
    6. Govindapuram Suresh, 2023. "Financial Inclusion and Its Impact on Fertility: An Empirical Investigation," Indian Journal of Human Development, , vol. 17(2), pages 344-358, August.
    7. Phuc Nguyen, Canh & Dinh Su, Thanh & Doytch, Nadia, 2020. "The drivers of financial development: Global evidence from internet and mobile usage," Information Economics and Policy, Elsevier, vol. 53(C).
    8. Kebede, Jeleta & Selvanathan, Saroja & Naranpanawa, Athula, 2021. "Foreign bank presence, institutional quality, and financial inclusion: Evidence from Africa," Economic Modelling, Elsevier, vol. 102(C).
    9. Shahid Manzoor Shah & Amjad Ali, 2022. "A Survey on Financial Inclusion: Theoretical and Empirical Literature Review," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(4), pages 310-330, December.
    10. Aamir Aijaz Syed & Assad Ullah & Muhammad Abdul Kamal, 2024. "Does economic policy uncertainty impedes financial inclusion in BRICS economies: the mediating role of quality of governance," Economic Change and Restructuring, Springer, vol. 57(1), pages 1-24, February.
    11. Tissaoui, Kais & Zaghdoudi, Taha, 2021. "Dynamic connectedness between the U.S. financial market and Euro-Asian financial markets: Testing transmission of uncertainty through spatial regressions models," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 481-492.
    12. Kebede, Jeleta & Naranpanawa, Athula & Selvanathan, Saroja, 2021. "Financial inclusion: Measures and applications to Africa," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 365-379.
    13. Sergio Luis Náñez Alonso & Javier Jorge-Vazquez & Ricardo Francisco Reier Forradellas & Elena Ahijado Dochado, 2022. "Solutions to Financial Exclusion in Rural and Depopulated Areas: Evidence Based in Castilla y León (Spain)," Land, MDPI, vol. 11(1), pages 1-19, January.
    14. Rajesh Barik & Sanjaya Kumar Lenka, 2022. "Demand-Side and Supply-Side Determinants of Financial Inclusion in Indian States: Evidence from Post-Liberalization Period," Emerging Economy Studies, International Management Institute, vol. 8(1), pages 7-25, May.
    15. Ozili, Peterson K, 2023. "Corporate governance and financial inclusion," MPRA Paper 118799, University Library of Munich, Germany.
    16. Thereza Balliester Reis, 2022. "Socio‐economic determinants of financial inclusion: An evaluation with a microdata multidimensional index," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(3), pages 587-611, April.

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