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Financial inclusion and poverty: evidence from Armenia

In: Handbook of Microfinance, Financial Inclusion and Development

Author

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  • Aleksandr Grigoryan
  • Knar Khachatryan
  • Knarik Ayvazyan
  • Pundarik Mukhopadhaya

Abstract

We study the relationship between financial inclusion and multidimensional poverty in Armenia, using household level dataset for the years 2016 - 2018. We identify three key dimensions for financial inclusion, namely, access to finance, savings behavior and financial literacy. Income, education, health, living standards and employment are the dimensions used for measuring multidimensional poverty. We noted that health is the main contributor to multidimensional poverty while income has no impact on poverty. From the regression analysis, we find that that better access to finance, savings from monthly income and financial literacy have the potential to alleviate poverty. Nevertheless, an excess of credit lines is of particular damage to vulnerable households by increasing the risk of deprivation. The government and central bank are encouraged to design or enhance policies that provide an enabling environment for inclusive and accessible financial services.

Suggested Citation

  • Aleksandr Grigoryan & Knar Khachatryan & Knarik Ayvazyan & Pundarik Mukhopadhaya, 2023. "Financial inclusion and poverty: evidence from Armenia," Chapters, in: Valentina Hartarska & Robert J. Cull (ed.), Handbook of Microfinance, Financial Inclusion and Development, chapter 23, pages 449-466, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19107_23
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    Keywords

    Development Studies; Economics and Finance;

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