ABSTRACT
This paper seeks to identify the key factors affecting financial inclusion in developed and developing countries. Considering six dimensions of financial inclusion and different indicators, several regressions have been performed to determine the key factors affecting financial inclusion. Particularly, using OLS regression model, we regress each financial inclusion indicator of each dimension on a set of variables related to social factors, macro-economic factors and institutional quality. Results suggest that institutional quality and social factors are significantly linked to financial inclusion. Our findings have an important policy implication in that institutional quality and social factors should be considered as vital drivers in enhancing the level of financial inclusion which is consistent with Sha’ban et al (2019). Particularly, governments have to implement efficient measures and increase their capacity to control corruption. Finally, our research offers findings of specific interest to identify policies to boost financial inclusion all over the world.
Disclosure statement
No potential conflict of interest was reported by the author(s).
Notes
1 ‘Unlocking Public and Private Finance for the Poor’ (https://www.uncdf.org/financial-inclusion-and-the-sdgs).