Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/286347 
Year of Publication: 
2023
Series/Report no.: 
IES Working Paper No. 18/2023
Publisher: 
Charles University in Prague, Institute of Economic Studies (IES), Prague
Abstract: 
Using a dynamic panel data analysis, we explore the factors influencing financial inclusion in Sub-Saharan Africa (SSA) and countries belonging to the Organization for Economic Co-operation and Development (OECD). We employ the System Generalized Method of Moments (GMM) estimator and assess 31 SSA and 38 OECD countries from 2000-2021. We found that the differences in trade openness, banks' efficiency, income, and remittances are some macro-level factors that explain the variation in financial inclusion levels. We highlight the importance of quality literacy policies, trade improvement with restrictions on cross-border capital flows, and a more efficient financial system to promote financial inclusion.
Subjects: 
Financial Inclusion
Financial Inclusion Index
Sub-Saharan Africa (SSA)
Organization for Economic Co-operation and Development (OECD)
System Generalized Methods of Moments (GMM)
JEL: 
C23
E44
F65
G21
O16
O57
Document Type: 
Working Paper

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