The role of financial inclusion in improving household well-being
Using a nationally representative household survey data collected from Ghana, this paper investigates the relationship between financial inclusion and household well-being. The paper computes a comprehensive index for financial inclusion incorporating all its dimensions: availability, accessibility, usage and quality. Our econometric analyses employ both discrete and continuous models to produce robust results. The main result indicates that there are significant welfare gains from increased financial inclusion irrespective of its measure and control for endogeneity. The results also suggest that enhanced financial inclusion increases the likelihood of improving food consumption, medical treatment, cash income and school attendance outcomes. Thus, there is a clear policy implication: increasing financial inclusion will significantly contribute to the attainment of some key Sustainable Development Goals (SDGs).
Delivering Inclusive Financial Development and Growth
Economic and Social Research CouncilFind out more...
- Business and Economics
Published inJournal of International Development
- VoR (Version of Record)
Rights holder© The Authors
Publisher statementThis is an Open Access Article. It is published by Wiley under the Creative Commons Attribution 4.0 International Licence (CC BY 4.0). Full details of this licence are available at: https://creativecommons.org/licenses/by/4.0/