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Financial Economics

Digital transformation, financial access and discrepancies in household wealth accumulation

ORCID Icon, , &
Article: 2241700 | Received 12 Apr 2023, Accepted 21 Jul 2023, Published online: 07 Aug 2023

Figures & data

Figure 1. Distribution of the global savings in the samples.

Source. Authors’computation based on Finscope (2016) and HLSMS (2018) for Togo
Figure 1. Distribution of the global savings in the samples.

Table 1. Descriptive statistics

Table 2. Difference in means by access to Bank financial services and by digital finance use

Table 3. Difference in means by access to Bank finance services with digital finance use

Figure 2. Propensity score distribution.

Source. Authors’compulation based on Finscope (2016) and HLSMS (2018) for Togo.
Figure 2. Propensity score distribution.

Table 4. Balancing test for propensity score matching

Table 5. Impact of access to bank financial services on household wealth accumulation

Table 6. Impact of digital finance use on household’s wealth accumulation

Table 7. Impact of access to bank financial services together with digital finance use on household wealth accumulation

Table 8. Mantel-Haenszel sensitivity test

Table 9. Results with double difference method

Figure 3. Lorentz curves for all samples and by treatment variable over global savings.

Source. Authors’computation based on Finscope (2016) and HLSMS (2018) for Togo.
Figure 3. Lorentz curves for all samples and by treatment variable over global savings.

Table 10. Instruments validity test

Table 11. Impact of bank financial services on household’s wealth accumulation

Table 12. Impact of digital finance use on household wealth accumulation

Table 13. Impact of access to bank financial services together with digital finance use on household’s wealth accumulation

Figure A1. The dot plot.

Source. Authors’computation based on Finscope (2016) and HLSMS (2018) for Togo.
Figure A1. The dot plot.

Table A1. Propensity Score Matching with Double Difference for Access to Bank financial services

Table A2. Propensity Score Matching with Double Difference for Digital financial use

Table A3. Propensity Score Matching with Double Difference for Access to Bank financial services with Digital financial use

Table A4. Impact of Access to Bank financial services on Global savings of Togolese households

Table A5. Impact of Access to Bank financial services on Bank savings of Togolese households

Table A6. Impact of Access to Bank financial services on Investment in physical assets of Togolese households

Table A7. Impact of Digital finance use on Global savings of Togolese households

Table A8. Impact of Digital finance use on Bank savings of Togolese households

Table A9. Impact of Digital finance use on Investment in physical assets of Togolese households

Table A10. Impact of Access to Bank financial services with Digital finance use on Global savings of Togolese households

Table A11. Impact of Access to Bank financial services with Digital finance use on Banks savings of Togolese households

Table A12. Impact of Access to Bank financial services with Digital finance use on Investment in physical assets of Togolese households