Gender Inequality in Financial Inclusion: An Exploratory Analysis of the Middle East and North Africa

Abstract

Gender in financial inclusion is an evolving field of research. This study uses the World Bank’s Global Findex database, along with probit models, to investigate the presence of gender inequality on financial inclusion and its causes. In the Middle East and North Africa samples, we present new evidence of lower women’s financial inclusion. Being a man, older, well-educated and with a high-income increases the likelihood of being financially included. The findings of this study support policymaker in defining policies to promote financial inclusion in the Middle East and North Africa. Increasing the level of financial inclusion enhances the level of official savings in countries, which in turn promotes development.

Keywords:

• gender
• financial inclusion
• discrimination
• financial institutions

JEL Classification Codes:

• G21
• J16
• O16
• O23

Notes

1 According to the Global Financial Inclusion Database (Demirgüç-Kunt et al. 2018) there has been a nominal increase in the number of adults who have access to a bank account during the last years, from 49% of the adult population without bank accounts in 2011 to 31% in 2017.

2 A formal account refers to having a bank account in a formal financial institution.

Additional information

Notes on contributors

Amirreza Kazemikhasragh

Amirreza Kazemikhasragh is at the Dipartimento di Scienze Aziendali, University of Bologna (UNIBO), Bologna, Italy Mexico.

Antonella Francesca Cicchiello

Antonella Francesca Cicchiello is in the Dipartimento di Scienze Economiche e Sociali, Università Cattolica del Sacro Cuore, Piacenza, Italy.

Stefano Monferrá

Stefano Monferrá is also in the Dipartimento di Scienze Economiche e Sociali, Università Cattolica del Sacro Cuore, Piacenza, Italy.

Alicia Girón

Alicia Girón is in the University Program of Studies on Asia and Africa (PUEAA), National Autonomous University of Mexico (UNAM), Mexico City, Mexico.