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Financial inclusion and poverty: a tale of forty-five thousand households

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  • Sefa Awaworyi Churchill
  • Vijaya Bhaskar Marisetty

Abstract

Using a new nationally representative survey data covering approximately 45,000 Indian households, we examine the effects of financial inclusion on poverty. We construct a multidimensional indicator of financial inclusion and examine the effects of financial inclusion on multiple measures of poverty including the household Poverty Probability Index (PPI), household deprivation scores, and poverty line. We find that financial inclusion has a strong poverty-reducing effect. This finding is consistent across the different measures of poverty used, and alternative ways of measures financial inclusion. These results underpin the importance of financial inclusion and the need for its promotion across countries.

Suggested Citation

  • Sefa Awaworyi Churchill & Vijaya Bhaskar Marisetty, 2020. "Financial inclusion and poverty: a tale of forty-five thousand households," Applied Economics, Taylor & Francis Journals, vol. 52(16), pages 1777-1788, April.
    • Handle: RePEc:taf:applec:v:52:y:2020:i:16:p:1777-1788
    DOI: 10.1080/00036846.2019.1678732
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    Cited by:

    1. Gutiérrez-Romero, Roxana & Ahamed, Mostak, 2021. "COVID-19 response needs to broaden financial inclusion to curb the rise in poverty," World Development, Elsevier, vol. 138(C).
    2. Mahamat Ibrahim Ahmat Tidjani, 2020. "An exploratory analysis of financial inclusion in Chad," Post-Print hal-03322905, HAL.
    3. Okorie, David Iheke & Lin, Boqiang, 2022. "Association of energy poverty and catastrophic health expenditure," Energy, Elsevier, vol. 253(C).
    4. Zhian Zhiow Augustinne Wong & Ramez Abubakr Badeeb & Abey P. Philip, 2023. "Financial Inclusion, Poverty, and Income Inequality in ASEAN Countries: Does Financial Innovation Matter?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 169(1), pages 471-503, September.
    5. Simplice A. Asongu & Nicholas M. Odhiambo, 2023. "The role of financial inclusion in moderating the incidence of entrepreneurship on energy poverty in Ghana," Working Papers of the African Governance and Development Institute. 23/035, African Governance and Development Institute..
    6. Chenjing Zhang & Qiaoge Li & Di Mao & Mancang Wang, 2023. "Research on the Threshold Effect of Internet Development on Regional Inclusive Finance in China," Sustainability, MDPI, vol. 15(8), pages 1-20, April.
    7. Zhengxin Li & Md. Qamruzzaman, 2023. "Nexus between Environmental Degradation, Clean Energy, Financial Inclusion, and Poverty: Evidence with DSUR, CUP-FM, and CUP-BC Estimation," Sustainability, MDPI, vol. 15(19), pages 1-31, September.
    8. Sen, Kanchan Kumar & Karmaker, Shamal Chandra & Hosan, Shahadat & Chapman, Andrew J. & Uddin, Md Kamal & Saha, Bidyut Baran, 2023. "Energy poverty alleviation through financial inclusion: Role of gender in Bangladesh," Energy, Elsevier, vol. 282(C).
    9. Mostak Ahamed & Roxana Guti'errez-Romero, 2020. "COVID-19 response needs to broaden financial inclusion to curb the rise in poverty," Papers 2006.10706, arXiv.org.
    10. Rajesh Barik & Sanjaya Kumar Lenka, 2023. "Does financial inclusion control corruption in upper-middle and lower-middle income countries?," Asia-Pacific Journal of Regional Science, Springer, vol. 7(1), pages 69-92, March.
    11. Nandelenga, Martin Wafula & Oduor, Jacob, 2020. "Asymmetric analysis of finance - Inequality nexus: Evidence from sub-Saharan Africa," The Journal of Economic Asymmetries, Elsevier, vol. 22(C).
    12. Martey, Edward & Etwire, Prince Maxwell & Adusah-Poku, Frank & Akoto, Isaac, 2022. "Off-farm work, cooking energy choice and time poverty in Ghana: An empirical analysis," Energy Policy, Elsevier, vol. 163(C).
    13. Juan Carlos Urueña-Mejía & Luis H. Gutierrez & Paul Rodríguez-Lesmes, 2023. "Financial inclusion and business practices of microbusiness in Colombia," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(2), pages 465-494, June.
    14. Bukari, Chei & Broermann, Shanaz & Okai, Davidson, 2021. "Energy poverty and health expenditure: Evidence from Ghana," Energy Economics, Elsevier, vol. 103(C).
    15. Aarakit, Sylvia Manjeri & Ntayi, Joseph M. & Wasswa, Francis & Buyinza, Faisal & Adaramola, Muyiwa S. & Ssennono, Vincent F., 2022. "The role of financial inclusion in adoption of solar photovoltaic systems: A case of Uganda," Renewable Energy, Elsevier, vol. 198(C), pages 984-998.
    16. Ifra Bashir & Ishtiaq Hussain Qureshi, 2023. "A Systematic Literature Review on Personal Financial Well-Being: The Link to Key Sustainable Development Goals 2030," FIIB Business Review, , vol. 12(1), pages 31-48, March.
    17. Awaworyi Churchill, Sefa & Iqbal, Nasir & Nawaz, Saima & Yew, Siew Ling, 2021. "Unconditional cash transfers, child labour and education: theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 186(C), pages 437-457.
    18. Lin, Boqiang & Okyere, Michael Adu, 2023. "Race and energy poverty: The moderating role of subsidies in South Africa," Energy Economics, Elsevier, vol. 117(C).
    19. Raymond Elikplim Kofinti & Josephine Baako-Amponsah & Prince Danso, 2023. "Household National Health Insurance Subscription and Learning Outcomes of Poor Children in Ghana," Child Indicators Research, Springer;The International Society of Child Indicators (ISCI), vol. 16(1), pages 357-394, February.
    20. Zhang, Jiaping & Zhang, Huirong & Gong, Xiaomei, 2022. "Mobile payment and rural household consumption: Evidence from China," Telecommunications Policy, Elsevier, vol. 46(3).
    21. Isaac Koomson & Raymond Elikplim Kofinti & Esther Laryea, 2024. "Financial inclusion and multidimensional child poverty," Review of Economics of the Household, Springer, vol. 22(1), pages 237-260, March.
    22. Mohammed Seid Hussen & Mustafe Abdi Mohamed, 2023. "Impact of financial inclusion on household welfare in Ethiopia," Future Business Journal, Springer, vol. 9(1), pages 1-12, December.
    23. Martinson Ankrah Twumasi & Yuansheng Jiang & Zhao Ding & Pengcheng Wang & Wonder Abgenyo, 2022. "The Mediating Role of Access to Financial Services in the Effect of Financial Literacy on Household Income: The Case of Rural Ghana," SAGE Open, , vol. 12(1), pages 21582440221, February.

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