IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/82882.html

Promoting Financial Inclusion in Africa: The Two Ambiguities

Author

Listed:
  • Ayoki, Milton

Abstract

This paper reviews the African experience in fostering financial inclusion. It examines two aspects of financial inclusion—access by enterprises and households to affordable and appropriate formal financial services and the actual usage of financial services and products, how this has been helped with financial deepening. Empirical evidence does not point to a clear, definite relationship between financial deepening and access to affordable financial services or usage of financial services. This underscores the importance of paying attention to all dimensions of financial inclusions and innovations that meet the firms and households’ needs. Financial inclusion is part of the solution to the serious problem of financial access/usage gaps that exist in many African countries, but not of itself a panacea.

Suggested Citation

  • Ayoki, Milton, 2009. "Promoting Financial Inclusion in Africa: The Two Ambiguities," MPRA Paper 82882, University Library of Munich, Germany, revised Dec 2016.
    • Handle: RePEc:pra:mprapa:82882
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/82882/1/MPRA_paper_82882.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Beck, Thorsten & Demirguc-Kunt, Asli & Martinez Peria, Maria Soledad, 2007. "Reaching out: Access to and use of banking services across countries," Journal of Financial Economics, Elsevier, vol. 85(1), pages 234-266, July.
    2. Josh Lerner & Peter Tufano, 2011. "The Consequences of Financial Innovation: A Counterfactual Research Agenda," NBER Chapters, in: The Rate and Direction of Inventive Activity Revisited, pages 523-575, National Bureau of Economic Research, Inc.
    3. Ms. Era Dabla-Norris & Yan Ji & Robert M. Townsend & Ms. Filiz D Unsal, 2015. "Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality: A Structural Framework for Policy," IMF Working Papers 2015/022, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ayoki, Milton, 2014. "Inclusive Financial System Reforms in Uganda: Unveiling Ambiguity," MPRA Paper 83234, University Library of Munich, Germany, revised Dec 2017.

    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. Ahmad Hassan Ahmad & Christopher Green & Fei Jiang, 2020. "Mobile Money, Financial Inclusion And Development: A Review With Reference To African Experience," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 753-792, September.
    2. Wang, Rui & Luo, Hang (Robin), 2022. "How does financial inclusion affect bank stability in emerging economies?," Emerging Markets Review, Elsevier, vol. 51(PA).
    3. Sabyasachi Tripathi & Meenakshi Rajeev, 2023. "Gender-Inclusive Development through Fintech: Studying Gender-Based Digital Financial Inclusion in a Cross-Country Setting," Sustainability, MDPI, vol. 15(13), pages 1-34, June.
    4. Kabakova, Oksana & Plaksenkov, Evgeny, 2018. "Analysis of factors affecting financial inclusion: Ecosystem view," Journal of Business Research, Elsevier, vol. 89(C), pages 198-205.
    5. Taylor, Daniel & Osei-Tutu, Francis & Awuye, Isaac S., 2024. "The role of accounting standards in financial inclusion," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    6. 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).
    7. Emil Adamek & Jan Janku, 2022. "What Drives Small Business Crowdfunding? Impact of Macroeconomic and Financial Factors," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 72(2), pages 172-196, June.
    8. Una Okonkwo Osili & Anna L. Paulson, 2006. "What can we learn about financial access from U.S. immigrants?," Working Paper Series WP-06-25, Federal Reserve Bank of Chicago.
    9. Tamer Khraisha & Keren Arthur, 2018. "Can we have a general theory of financial innovation processes? A conceptual review," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 4(1), pages 1-27, December.
    10. Pedro L. Rodríguez, José R. Morales, Fancisco J. Monaldi, 2012. "Direct Distribution of Oil Revenues in Venezuela: A Viable Alternative?," Working Papers 306, Center for Global Development.
    11. N'dri, Lasme Mathieu & Kakinaka, Makoto, 2020. "Financial inclusion, mobile money, and individual welfare: The case of Burkina Faso," Telecommunications Policy, Elsevier, vol. 44(3).
    12. de Quidt, Jonathan & Fetzer, Thiemo & Ghatak, Maitreesh, 2018. "Commercialization and the decline of joint liability microcredit," Journal of Development Economics, Elsevier, vol. 134(C), pages 209-225.
    13. Marc Auboin & Alisa DiCaprio, 2017. "Why Do Trade Finance Gaps Persist: Does it Matter for Trade and Development?," CESifo Working Paper Series 6425, CESifo.
    14. Ongo Nkoa, Bruno Emmanuel & Song, Jacques Simon, 2020. "Does institutional quality affect financial inclusion in Africa? A panel data analysis," Economic Systems, Elsevier, vol. 44(4).
    15. Wonhyung Lee & Nurul Widyaningrum, 2019. "Multidimensional access to financial services: Insights from Indonesia," Progress in Development Studies, , vol. 19(1), pages 21-35, January.
    16. Claire Alexandre & Ignacio Mas & Daniel Radcliffe, 2011. "Regulating New Banking Models to Bring Financial Services to All," Challenge, Taylor & Francis Journals, vol. 54(3), pages 116-134.
    17. Lu, Weijie & Niu, Geng & Zhou, Yang, 2021. "Individualism and financial inclusion," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 268-288.
    18. Hu, Yue & Liu, Chang & Peng, Jiangang, 2021. "Financial inclusion and agricultural total factor productivity growth in China," Economic Modelling, Elsevier, vol. 96(C), pages 68-82.
    19. Nanda, Kajole, 2019. "Dynamics between Bank-led Financial Inclusion and Economic Growth in Emerging Economies: The Case of India," International Journal of Development and Conflict, Gokhale Institute of Politics and Economics, vol. 9(1), pages 95-121.
    20. Alex Bara & Pierre LeRoux, 2018. "Technology, Financial Innovations and Bank Behavior in a Low Income Country," Journal of Economics and Behavioral Studies, AMH International, vol. 10(4), pages 221-234.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • N27 - Economic History - - Financial Markets and Institutions - - - Africa; Oceania
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

    Statistics

    Access and download statistics

    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:pra:mprapa:82882. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.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.