IDEAS home Printed from https://ideas.repec.org/a/rbs/ijbrss/v11y2022i6p341-349.html
   My bibliography  Save this article

An analysis of the influence of socioeconomic and demographic factors on financial inclusion in underdeveloped regions

Author

Listed:
  • David Mhlanga

    (University of Johannesburg)

Abstract

One of the most important concerns facing the world today is financial inclusion. Organizations, financial institutions, and people in positions of responsibility are all demonstrating an interest in learning more about this. Several industrialized and emerging nations have recognized financial exclusion as a major socio-economic problem that needs to be addressed. This paper aims to examine the factors influencing smallholder farmers' financial inclusion in Zimbabwe. Using the logistic regression analysis, the results of the study pointed out that there was a considerable correlation between a household's size, off-farm income, agricultural extension service, distance, and transaction costs in a logit model, which was used to determine whether it had access to financial services. Government and financial service providers should strive to make it easier for people to get to their nearest banking institutions by establishing access points close to their residences. Filling stations and major supermarkets are examples of places where these access points could be positioned. As a result of greater access to formal financial services, small-scale farmers may benefit. Financial service providers must perform regular charge reviews as one of the factors that may deter families from utilizing financial services. Key Words:Agriculture, Demographic Factors, Financial Inclusion, Smallholder farmers, Rural Zimbabwe

Suggested Citation

  • David Mhlanga, 2022. "An analysis of the influence of socioeconomic and demographic factors on financial inclusion in underdeveloped regions," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(6), pages 341-349, September.
    • Handle: RePEc:rbs:ijbrss:v:11:y:2022:i:6:p:341-349
    DOI: 10.20525/ijrbs.v11i6.1981
    as

    Download full text from publisher

    File URL: https://www.ssbfnet.com/ojs/index.php/ijrbs/article/view/1981/1453
    Download Restriction: no
    File URL: https://doi.org/10.20525/ijrbs.v11i6.1981
    Download Restriction: no
    File URL: https://libkey.io/10.20525/ijrbs.v11i6.1981?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Abeer Rashdan & Noura Eissa, 2020. "The Determinants of Financial Inclusion in Egypt," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(1), pages 123-136, January.
    2. Barnabas Kiiza & Glenn Pederson, 2001. "Household Financial Savings Mobilisation: Empirical Evidence from Uganda," Journal of African Economies, Centre for the Study of African Economies, vol. 10(4), pages 390-409.
    3. Mandira Sarma, 2008. "Index of Financial Inclusion," Working Papers id:1575, eSocialSciences.
    4. Diane Irankunda & Peter A.G. Van Bergeijk, 2020. "Financial Inclusion of Urban Street Vendors in Kigali," Journal of African Business, Taylor & Francis Journals, vol. 21(4), pages 529-543, October.
    5. Patrick Opoku Asuming & Lotus Gyamfuah Osei-Agyei & Jabir Ibrahim Mohammed, 2019. "Financial Inclusion in Sub-Saharan Africa: Recent Trends and Determinants," Journal of African Business, Taylor & Francis Journals, vol. 20(1), pages 112-134, January.
    6. Bazira Bigawa Abel, 2020. "Financial Inclusion in Burundi: The Use of Microfinance Services in Semi-Urban Areas," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 45(3), pages 101-116, September.
    7. Mhlanga David & Denhere Varaidzo, 2020. "Determinants of Financial Inclusion in Southern Africa," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 65(3), pages 39-52, December.
    8. Mandira Sarma, 2008. "Index of Financial Inclusion," Finance Working Papers 22259, East Asian Bureau of Economic Research.
    9. Peterson K. Ozili, 2021. "Financial inclusion research around the world: A review," Forum for Social Economics, Taylor & Francis Journals, vol. 50(4), pages 457-479, October.
    10. Anthony Amoah & Kofi Korle & Rexford Kweku Asiama, 2020. "Mobile money as a financial inclusion instrument: what are the determinants?," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 47(10), pages 1283-1297, August.
    11. Thorsten Beck & Lemma Senbet & Witness Simbanegavi, 2015. "Financial Inclusion and Innovation in Africa: An Overview," Journal of African Economies, Centre for the Study of African Economies, vol. 24(suppl_1), pages 3-11.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Amponsah, Mary & Agbola, Frank W. & Mahmood, Amir, 2021. "The impact of informality on inclusive growth in Sub-Saharan Africa: Does financial inclusion matter?," Journal of Policy Modeling, Elsevier, vol. 43(6), pages 1259-1286.
    2. Iza GIGAURI, 2022. "The Promise of Financial Inclusion for Developing Economies," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 8(6), pages 7-20, September.
    3. Fareeha Adil & Abdul Jalil, 2020. "Determining the Financial Inclusion Output of Banking Sector of Pakistan—Supply-Side Analysis," Economies, MDPI, vol. 8(2), pages 1-20, May.
    4. Bao Zhu & Shiting Zhai & Jing He, 2018. "Is the Development of China’s Financial Inclusion Sustainable? Evidence from a Perspective of Balance," Sustainability, MDPI, vol. 10(4), pages 1-16, April.
    5. 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).
    6. David Mhlanga, 2021. "Financial Inclusion in Emerging Economies: The Application of Machine Learning and Artificial Intelligence in Credit Risk Assessment," IJFS, MDPI, vol. 9(3), pages 1-16, July.
    7. Rahima Benaini & Samiya Metair, "undated". "Determinants of financial inclusion in Algeria: An ARDL Bounds Test approach," Review of Socio - Economic Perspectives 202219, Reviewsep.
    8. Amit Pandey & Ravi Kiran & Rakesh Kumar Sharma, 2023. "Investigating the Determinants of Financial Inclusion in BRICS Economies: Panel Data Analysis Using Fixed-Effect and Cross-Section Random Effect," Sustainability, MDPI, vol. 15(2), pages 1-21, January.
    9. Neha Arora & Naresh Kumar, 2021. "Does Financial Inclusion Promote Human Development? Evidence from India," Jindal Journal of Business Research, , vol. 10(2), pages 163-184, December.
    10. Ngasuko, Tri Achya, 2018. "Peningkatan Keuangan Inklusif di Indonesia melalui Fintech Syariah [Increasing Financial Inclusion Through Syaria Fintech]," MPRA Paper 99180, University Library of Munich, Germany, revised 01 Aug 2018.
    11. Ayushi Raichoudhury, 2020. "Major Determinants of Financial Inclusion: State-Level Evidences from India," Vision, , vol. 24(2), pages 151-159, June.
    12. Shahid Manzoor Shah & Amjad Ali, 2023. "Macro Dimensions of Financial Inclusion Index and its Status in Developing Countries," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(1), pages 1-12, March.
    13. Yadav, Vishal & Singh, Shishir Kumar & Velan, Nirmala & Aftab, Md Asif, 2020. "Impact Assessment of Pradhan Mantri Jan-Dhan Yojana in Augmenting Financial Inclusion in India - A District-Level Analysis," MPRA Paper 105064, University Library of Munich, Germany.
    14. Oscar Chiwira, 2021. "The Co-Integrating Relationship between Financial Inclusion and Economic Growth in the Southern African Development Community," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 9(3), pages 170-188.
    15. Yussif Issaka Jajah & Ebenezer B. Anarfo & Felix K. Aveh, 2022. "Financial inclusion and bank profitability in Sub‐Saharan Africa," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 32-44, January.
    16. Xuanming Ji & Kun Wang & He Xu & Muchen Li, 2021. "Has Digital Financial Inclusion Narrowed the Urban-Rural Income Gap: The Role of Entrepreneurship in China," Sustainability, MDPI, vol. 13(15), pages 1-18, July.
    17. Rajat Deb, 2016. "Determinants of Savings in Sukanya Samriddhi Account: Evidence from Tripura," IIM Kozhikode Society & Management Review, , vol. 5(2), pages 120-140, July.
    18. Mirela PANAIT & Irina RADULESCU & Catalin VOICA, 2018. "Financial Inclusion and Vulnerabilities Generated by the International Crisis," Romanian Journal of Economics, Institute of National Economy, vol. 47(2(56)), pages 71-81, Decembre.
    19. Kazeem B. Ajide & Olorunfemi Y. Alimi & Simplice A. Asongu & Ibrahim D. Raheem, 2022. "The role of institutional infrastructures in financial inclusion‐growth relations: Evidence from SSA," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 175-191, January.
    20. David Martínez Turégano & Alicia García Herrero, 2018. "Financial Inclusion, Rather Than Size, Is The Key To Tackling Income Inequality," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(01), pages 167-184, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rbs:ijbrss:v:11:y:2022:i:6:p:341-349. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Umit Hacioglu (email available below). General contact details of provider: https://edirc.repec.org/data/ssbffea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.