5,364
Views
6
CrossRef citations to date
0
Altmetric
GENERAL & APPLIED ECONOMICS

Financial literacy, financial inclusion and participation of individual on the Ghana stock market

, , &
Article: 2023955 | Received 04 Sep 2020, Accepted 22 Dec 2021, Published online: 26 Jan 2022

References

  • Abor, J. Y., Issahaku, H., Amidu, M., & Murinde, V. (2018). Financial inclusion and economic growth: What do we know? Working Paper Series No. 11/2018. Centre for Global Finance.
  • Acquah-Sam, E. (2014). The State of Ghana’s capital Market. Journal of Applied Economics and Business, 2(3), 55–34.
  • Allen, F., Demirguc-Kunt, A., Klapper, L., & Peria, M. S. M. (2016). The foundations of financial inclusion: Understanding ownership and use of formal accounts. Journal of financial Intermediation, 27, 1–30 https://doi.org/10.1016/j.jfi.2015.12.003.
  • Asuming, P. O., Osei-Agyei, L. G., & Mohammed, J. I. (2019). Financial Inclusion in Sub-Saharan Africa: Recent Trends and Determinants. Journal of African Business, 20(1), 112–134. https://doi.org/10.1080/15228916.2018.1484209
  • Atkinson, A., & Messy, F. A. (2012). Measuring financial literacy: Results of the OECD/International Network on Financial Education (INFE) pilot study. Paris: OECD Publishing. https://doi.org/10.1787/5k9csfs90fr4-en
  • Atkinson, A., & Messy, F. A. (2013). Promoting Financial Inclusion Through Financial Education. OECD Publishing, 34(34), 1–53 https://doi.org/10.1787/5k3xz6m88smp-en .
  • Baidoo, S. T., Boateng, E., & Amponsah, M. (2018). Understanding the determinants of saving in Ghana: Does financial literacy matter? Journal of International Development, 30(5), 886–903. https://doi.org/10.1002/jid.3377
  • Balloch, A., Nicolae, A., & Philip, D. (2015). Stock Market Literacy. Trust, and Participation *.
  • Banyen, K. T., & Nkuah, J. K. (2015). Limited stock market participation in Ghana:A behavioral explannation. International Journal of Economics and Empirical Research, 3(6), 286–305. https://dx.doi.org/10.2139/ssrn.2795036
  • Beck, T., & Levine, R. (2004). Stock markets, banks, and growth: Panel evidence. Journal of Banking and Finance, 28(3), 423–442. https://doi.org/10.1016/S0378-4266(02)00408-9
  • Birochi, R., & Pozzebon, M. (2016). Improving financial inclusion: Towards a critical financial education framework. RAE Revista de Administracao de Empresas . https://doi.org/10.1590/S0034-759020160302
  • Chakrabarty, K. C. (2012, November). Financial inclusion: Issues in measurement and analysis.In Keynote address,BIS-BNM workshop on financial inclusion indicators. Kualar Lumpur,November.
  • Chikalipah, S. (2017). What determines financial inclusion in Sub-Saharan Africa? African Journal of Economic and Management Studies, 8(1), 8–18. https://doi.org/10.1108/AJEMS-01-2016-0007
  • Cohen, M., & Nelson, C. (2011). Financial literacy: A step for clients towards financial inclusion. Global microcredit summit. commissioned workshop paper. November 14-17, 2011. Valladolid, Spain, 14–17.
  • Demirguc-Kunt, A., & Klapper, L. (2012), “Measuring financial inclusion: The global findex database”, World Bank Policy Research Working Paper 6025, World Bank, Washington, DC.
  • Demirguc-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2017). The global findex database: Measuring financial inclusion and the fintech revolution. World Bank Group.
  • Demirgüç-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018). The global findex database 2017: Measuring Financial Inclusion and the Fintech Revolution. World Bank.
  • Grohmann, A., Klühs, T., & Menkhoff, L. (2018). Does financial literacy improve financial inclusion? Cross country evidence. World Development, 111, 84–96. https://doi.org/10.1016/j.worlddev.2018.06.020
  • Guiso, L., & Jappelli, T. (2005). Awareness and stock market participation. Review of Finance, 9(4), 537–5675. https://doi.org/10.1007/s10679-005-5000-8
  • Gupte, R., Venkataramani, B., & Gupta, D. (2012). Computation of financial inclusion index for India. Procedia-Social and Behavioral Sciences, 37, 133–149. https://doi.org/10.1016/j.sbspro.2012.03.281
  • Hasler, A., & Lusardi, A. (2017). The gender gap in financial literacy: A global perspective. In Global Financial Literacy Excellence Center. The George Washington University School of Business.
  • Kadoya, Y., Khan, M., & Rabbani, N. (2017). Does Financial Literacy Affect Stock Market Participation? SSRN Electronic Journal, 15, 1–2 https://dx.doi.org/10.2139/ssrn.3056562.
  • Klapper, L., El-Zoghbi, M., & Hess, J. (2016). Achieving the sustainable development goals. Current Science, 110(2), 127–128.
  • Klapper, L., Lusardi, A., & van Oudheusden, P. (2017). Financial Literacy Around the World : Insights From The S&P Global Finlit Survey. http://www.openfininc.org/wp-content/uploads/2016/04/2015-Finlit_paper_17_F3_SINGLES.pdf
  • Kozak, S., & Sosyura, D. (2015). Access to Credit and Stock Market Participation. SSRN Electronic Journal, 1276. https://dx.doi.org/10.2139/ssrn.2594976
  • Kuffour, S. A., & Adu, G. (2019). Financial Literacy, Trust and Stock Market Participation in Ghana. Economics Literature, 1(2), 101–116. https://doi.org/10.22440/elit.1.2.2
  • Lusardi, A., & Mitchell, O. S. (2017). How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness. Quarterly Journal of Finance, 7(3), 175–207. https://doi.org/10.1142/S2010139217500082
  • Masiyandima, N., Mlambo, K., & Nyarota, S. (2017). Financial Inclusion and Quality of Livelihood in Zimbabwe. In 14th African Finance Journal Conference-Africa growth Institute, May-17–18, 2017, Elephant Hills Resort, Victoria Falls, Zimbabwe
  • Menon, P. (2019). Financial inclusion, banking the unbanked: Concepts, issues, and policies for India. Journal of Public Affairs, 19(2), 1–5. https://doi.org/10.1002/pa.1911
  • Mishra, R. (2018). Financial literacy, risk tolerance and stock market participation. Asian Economic and Financial Review, 8(12), 1457–1471. https://doi.org/10.18488/journal.aefr.2018.812.1457.1471
  • Morgan, P., & Pontines, V. (2014). Financial Stability and Financial Inclusion. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2464018
  • Okello, G., Bongomin, C., Ntayi, J. M., Munene, J. C., & Nabeta, I. N. (2016). Social capital: Mediator of financial literacy and financial inclusion in rural Uganda Article information. Review of International Business and Strategy, 26(2), 291–312. https://doi.org/10.1108/RIBS-06-2014-0072
  • Ozili, P. K. (2020, January). Financial inclusion research around the world: A review. In Forum for Social Economics (pp. 1–23). Routledge. https://doi.org/10.1080/07360932.2020.1715238
  • Sarma, M., & Pais, J. (2011). Financial inclusion and development. Journal of International Development, 23(5), 613–628. https://doi.org/10.1002/jid.1698
  • Schumpeter, J. (1911). The theory of economic development. Harvard Economic Studies, XLVI.
  • Sharma, D. (2016). Nexus between financial inclusion and economic growth: Evidence from the emerging Indian economy. Journal of Financial Economic Policy, 8(1), 13–36. https://doi.org/10.1108/JFEP-01-2015-0004
  • Thomas, A., & Spataro, L. (2015). Financial Literacy, Human Capital and Stock Market Participation in Europe: An Empirical Exercise under Endogenous Framework. Dipartimento di Economia e Management–Università di Pisa Discussion Paper, Gennaio,(194).
  • Van Rooij, M., Lusardi, A., Alessie, R., Banks, J., Binswanger, J., Bofondi, M., & Van Soest, A. (2011). Financial literacy and stock market participation $. Journal of Financial Economics, 101(2), 449–472. https://doi.org/10.1016/j.jfineco.2011.03.006
  • Xu, L., & Zia, B . (2012). Financial Literacy around the World: An Overview of the Evidence with Practical Suggestions for the Way Forward, 6107, 1–56. https://ssrn.com/abstract=2094887
  • Yangdol, R., & Sarma, M. (2019). Demand-side Factors for Financial Inclusion: A Cross-country Empirical Analysis. International Studies, 56(2–3), 163–185. https://doi.org/10.1177/0020881719849246
  • Zins, A., & Weill, L. (2016). The determinants of financial inclusion in Africa. Journal of Advanced Research, 6(1), 46–57. https://doi.org/10.1016/j.rdf.2016.05.001