Analysis of the Determinants of Financial Inclusion in Central and West Africa

Using data from the Global Financial Inclusion database (Global Findex) of the World Bank, this study attempts to identify and analyse the determinants of financial inclusion in Central and West Africa, two of the least financial inclusive regions of the Africa continent. The findings indicate that...

Full description

Bibliographic Details
Main Authors:	Soumare, Issouf, Tchana Tchana, Fulbert, Kengene, Thierry Martial
Format:	Journal Article
Language:	en_US
Published:	Taylor and Francis 2017
Subjects:	access to finance financial inclusion Global Findex gender
Online Access:	http://hdl.handle.net/10986/26005

id	okr-10986-26005
recordtype	oai_dc
spelling	okr-10986-260052021-05-25T10:54:40Z Analysis of the Determinants of Financial Inclusion in Central and West Africa Soumare, Issouf Tchana Tchana, Fulbert Kengene, Thierry Martial access to finance financial inclusion Global Findex gender Using data from the Global Financial Inclusion database (Global Findex) of the World Bank, this study attempts to identify and analyse the determinants of financial inclusion in Central and West Africa, two of the least financial inclusive regions of the Africa continent. The findings indicate that access to formal finance in the two regions is mainly driven by individual characteristics such as gender, education, age, income, residence area, employment status, marital status, household size and degree of trust in financial institutions. However, Central Africa and West Africa differ with the entire Africa region on a number of important determinants of access to finance. Specifically, educated, working-age, urban resident and full-time employed are significant individual characteristics of access to formal account in both regions and in Africa. However, being male and/or married are positive determinants of financial inclusion for Central Africa and Africa, whereas income is significant in West Africa and Africa. In addition, household size has a negative impact on account ownership in West African and not in Central Africa. When we use the other financial inclusion indicators (saving, borrowing or frequency of use), the above determinants remain all significant for Africa, but not necessarily for Central Africa or West Africa, where they have different degree of significance. As policy recommendations, governments and their partners in these regions should adopt or strengthen regulatory laws to better protect financial services consumers, enlarge population access to education, ease access to finance for the vulnerable groups (women, youth, poor, etc.), and continue their effort to increase the number of permanent and stable jobs created with special focus on gender and marital status in Central Africa and income and household size in West Africa. 2017-02-07T15:42:55Z 2017-02-07T15:42:55Z 2016-12-08 Journal Article Transnational Corporations Review 1918-6444 http://hdl.handle.net/10986/26005 en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Taylor and Francis Publications & Research :: Journal Article Publications & Research Africa Central Africa West Africa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	en_US
topic	access to finance financial inclusion Global Findex gender
spellingShingle	access to finance financial inclusion Global Findex gender Soumare, Issouf Tchana Tchana, Fulbert Kengene, Thierry Martial Analysis of the Determinants of Financial Inclusion in Central and West Africa
geographic_facet	Africa Central Africa West Africa
description	Using data from the Global Financial Inclusion database (Global Findex) of the World Bank, this study attempts to identify and analyse the determinants of financial inclusion in Central and West Africa, two of the least financial inclusive regions of the Africa continent. The findings indicate that access to formal finance in the two regions is mainly driven by individual characteristics such as gender, education, age, income, residence area, employment status, marital status, household size and degree of trust in financial institutions. However, Central Africa and West Africa differ with the entire Africa region on a number of important determinants of access to finance. Specifically, educated, working-age, urban resident and full-time employed are significant individual characteristics of access to formal account in both regions and in Africa. However, being male and/or married are positive determinants of financial inclusion for Central Africa and Africa, whereas income is significant in West Africa and Africa. In addition, household size has a negative impact on account ownership in West African and not in Central Africa. When we use the other financial inclusion indicators (saving, borrowing or frequency of use), the above determinants remain all significant for Africa, but not necessarily for Central Africa or West Africa, where they have different degree of significance. As policy recommendations, governments and their partners in these regions should adopt or strengthen regulatory laws to better protect financial services consumers, enlarge population access to education, ease access to finance for the vulnerable groups (women, youth, poor, etc.), and continue their effort to increase the number of permanent and stable jobs created with special focus on gender and marital status in Central Africa and income and household size in West Africa.
format	Journal Article
author	Soumare, Issouf Tchana Tchana, Fulbert Kengene, Thierry Martial
author_facet	Soumare, Issouf Tchana Tchana, Fulbert Kengene, Thierry Martial
author_sort	Soumare, Issouf
title	Analysis of the Determinants of Financial Inclusion in Central and West Africa
title_short	Analysis of the Determinants of Financial Inclusion in Central and West Africa
title_full	Analysis of the Determinants of Financial Inclusion in Central and West Africa
title_fullStr	Analysis of the Determinants of Financial Inclusion in Central and West Africa
title_full_unstemmed	Analysis of the Determinants of Financial Inclusion in Central and West Africa
title_sort	analysis of the determinants of financial inclusion in central and west africa
publisher	Taylor and Francis
publishDate	2017
url	http://hdl.handle.net/10986/26005
_version_	1764460707228680192

Analysis of the Determinants of Financial Inclusion in Central and West Africa

Similar Items