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Mobile money, financial inclusion and development: A review with reference to African experience

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journal contribution
posted on 01.05.2020, 09:43 by Ahmad Hassan AhmadAhmad Hassan Ahmad, Christopher Green, Fei Jiang
We survey literature on mobile money and its contribution in promoting financial inclusion and development, with a focus on sub-Saharan Africa. We use taxonomic, descriptive and analytical methods to evaluate the state of knowledge in the area. We analyse how mobile technology in general may contribute to economic development and financial inclusion in theory and practise. We explain the mechanics of mobile money using Kenya’s M-Pesa as a canonical example; and consider whether the literature has fully established the potential economic impact of mobile money especially its contribution to financial inclusion. We also consider market structure, pricing and regulatory implications of mobile money. We conclude by highlighting issues that require further investigation: the take-up of mobile money; mobile money and financial inclusion; substitutability between mobile money and conventional finance; and regulatory structures for institutions providing mobile money services.

Funding

ESRC-DFID Growth Research Programme (DEGRP) (Green)

History

School

  • Business and Economics

Department

  • Economics

Published in

Journal of Economic Surveys

Volume

34

Issue

4

Pages

753 - 792

Publisher

Wiley

Version

VoR (Version of Record)

Rights holder

© The Authors

Publisher statement

This is an Open Access Article. It is published by Wiley under the Creative Commons Attribution 4.0 Unported Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0/

Acceptance date

27/04/2020

Publication date

2020-05-28

Copyright date

2020

ISSN

0950-0804

eISSN

1467-6419

Language

en

Depositor

Dr Ahmad Hassan Ahmad . Deposit date: 30 April 2020