Fintech, foreign bank presence and inclusive finance in Africa: Using a quantile regression approach

References

• Aba, F., & Linardy, D. (2021). Financial technology in financial inclusions and its implications on poverty from Indonesia. Preprints. https://doi.org/10.20944/preprints202111.0061.v
   Google Scholar
• 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, 1–35. https://doi.org/10.1016/j.jfi.2015.12.003
   Web of Science ®Google Scholar
• Anarfo, E. B., Abor, J. Y., & Osei, K. A. (2020). Financial regulation and financial inclusion in Sub-Saharan Africa: Does financial stability play a moderating role? Research in International Business and Finance, 51, 101070. https://doi.org/10.1016/j.ribaf.2019.101070
   Web of Science ®Google Scholar
• Andrianaivo, M., & Kpodar, K. (2012). Mobile phones, financial inclusion, and growth. Review of Economics and Institutions, 3(2), 30. doi: 10.5202/rei.v3i2.75
   Google Scholar
• Arestis, P., & Demetriades, P. (1997). Financial development and economic growth: Assessing the evidence. The Economic Journal, 107(442), 783–799. doi: 10.1111/j.1468-0297.1997.tb00043.x
   Web of Science ®Google Scholar
• Banerjee, A., Duflo, E., Glennerster, R., & Kinnan, C. (2015). The miracle of microfinance? Evidence from a randomized evaluation.: American Economic Journal: Applied Economics, 7(1), 22–53. https://www.nber.org/system/files/working_papers/w18950/w18950.pdf
   Web of Science ®Google Scholar
• Batunanggar, S. (2019). Fintech development and regulatory frameworks in Indonesia (ADBI Working Paper Series No. 1014). Asian Development Bank Institute, Tokyo. https://hdl.handle.net/10419/222781
   Google Scholar
• Beck, T., & Brown, M. (2015). Foreign bank ownership and household credit. Journal of Financial Intermediation, 24(4), 466–486. https://doi.org/10.1016/j.jfi.2013.10.002
   Web of Science ®Google Scholar
• Beck, T., Demirgüç-Kunt, A., & Levine, R. (2007). Finance, inequality and the poor. Journal Of Economic Growth, 12(1), 27–49. https://doi.org/10.1007/s10887-007-9010-6
   Web of Science ®Google Scholar
• Beck, T., Fuchs, M., Singer, D., & Witte, M. (2014). Making cross-border banking work for Africa. Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
   Google Scholar
• Beck, T., & Peria, M. S. M. (2010). Foreign bank participation and outreach: Evidence from Mexico. Journal of Financial Intermediation, 19(1), 52–73. https://doi.org/10.1016/j.jfi.2009.03.002
   Web of Science ®Google Scholar
• Beck, T., Senbet, L., & Simbanegavi, W. (2015). Financial inclusion and innovation in Africa: An overview”. Journal of African Economies, 24(suppl_1), i3–i11. https://doi.org/10.1093/jae/eju031
   Google Scholar
• Buchinsky, M. (1995). Estimating the asymptotic covariance matrix for quantile regression models a Monte Carlo study. Journal of Econometrics, 68(2), 303–338. https://doi.org/10.1016/0304-4076(94)01652-G
   Web of Science ®Google Scholar
• Buchinsky, M. (1998). Recent advances in quantile regression models: A practical guideline for empirical research. Journal of Human Resources, 33(1), 88–126. https://doi.org/10.2307/146316
   Web of Science ®Google Scholar
• Bucker, L . (2021). 5 loans without collateral in Ghana that you can access. Oze. https://www.oze.guru/oze-blog/5-loans-without-collateral-in-ghana-that-you-can-access
   Google Scholar
• Chakrabarty, K. C. (2012, November). Financial inclusion: Issues in measurement and analysis. In Irving fisher committee workshop on financial inclusion indicators (pp.2227-2270). Malaysia.
   Google Scholar
• 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
   Web of Science ®Google Scholar
• Clarke, G. R., Cull, R., & Peria, M. S. M. (2006). Foreign bank participation and access to credit across firms in developing countries. Journal of Comparative Economics, 34(4), 774–795. https://doi.org/10.1016/j.jce.2006.08.001
   Web of Science ®Google Scholar
• Collard, S., & Kempson, E.(2005).Affordable credit: The way forward. Policy Press.
   Google Scholar
• Dabla-Norris, M. E., Deng, Y., Ivanova, A., Karpowicz, M. I., Unsal, M. F., VanLeemput, E., & Wong, J. (2015). Financial inclusion: Zooming in on Latin America. International Monetary Fund.
   Google Scholar
• Demirguc-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2018). The Global Findex Database 2017: Measuring financial inclusion and the fintech revolution. World Bank Publications.
   Google Scholar
• Demir, A., Pesqué-Cela, V., Altunbas, Y., & Murinde, V. (2022). Fintech, financial inclusion and income inequality: A quantile regression approach”. The European Journal of Finance, 1–22. https://doi.org/10.1080/1351847X.2020.1772335
   Google Scholar
• Detragiache, E., Tressel, T., & Gupta, P. (2008). Foreign banks in poor countries: Theory and evidence. The Journal of Finance, 63(5), 2123–2160. https://doi.org/10.1111/j.1540-6261.2008.01392.x
   Web of Science ®Google Scholar
• Didier, T., & Schmukler, S. L. (eds.). (2013). Emerging issues in financial development: Lessons from Latin America. World Bank Publications.
   Google Scholar
• Efron, B. (1981). Censored data and the bootstrap. Journal of the American Statistical Association, 76(374), 312–319. https://doi.org/10.1080/01621459.1981.10477650
   Web of Science ®Google Scholar
• Fouejieu,A., Sahay, R., Cihak,M, and Chen S. (2020). Financial inclusion and inequality: A cross-country analysis. The Journal of International Trade & Economic Development, 291, 1018–1048. https://doi.org/10.1080/09638199.2020.1785532
   Google Scholar
• Fu, J., & Mishra, M. (2022). Fintech in the time of COVID-19: Technological adoption during crises. Journal of Financial Intermediation,50,1–30. https://doi.org/10.1016/j.jfi.2021.100945.
   Google Scholar
• Fungáčová, Z., & Weill, L. (2015). Understanding financial inclusion in China. China Economic Review, 34, 196–206. https://doi.org/10.1016/j.chieco.2014.12.004
   Web of Science ®Google Scholar
• Ghosh, S. (2016). Does mobile telephony spur growth? Evidence from Indian states”. Telecommunications Policy, 40(10–11), 1020–1031. https://doi.org/10.1016/j.telpol.2016.05.009
   Web of Science ®Google Scholar
• Gormley, T. A. (2010). The impact of foreign bank entry in emerging markets: Evidence from India. Journal of Financial Intermediation, 19(1), 26–51. https://doi.org/10.1016/j.jfi.2009.01.003
   Web of Science ®Google Scholar
• Gosavi, A. (2018). Can mobile money help firms mitigate the problem of access to finance in Eastern sub-Saharan Africa? Journal of African Business, 19(3), 343–360. https://doi.org/10.1080/15228916.2017.1396791
   Web of Science ®Google Scholar
• Honohan, P. (2004). Financial development, growth and poverty: how close are the links?. In Financial development and economic growth (pp. 1–37). Palgrave Macmillan, London. https://doi.org/10.1057/9780230374270_1
   Google Scholar
• Jack, W., & Suri, T. (2011). Mobile money: The economics of M-PESA. No. w16721. National Bureau of Economic Research. https://doi.org/10.3386/w16721
   Google Scholar
• Kebede, J., Selvanathan, S., & Naranpanawa, A. (2021). Foreign bank presence, institutional quality, and financial inclusion: Evidence from Africa. Economic Modelling, 102, 105572. https://doi.org/10.1016/j.econmod.2021.105572
   Web of Science ®Google Scholar
• Koenker, R., & Hallock, K. F. (2001). Quantile regression. Journal Of Economic Perspectives, 15(4), 143–156.
   Web of Science ®Google Scholar
• Kohtamäki, M., Parida, V., Oghazi, P., Gebauer, H., & Baines, T. (2019). Digital servitization business models in ecosystems: A theory of the firm. Journal of Business Research, 104, 380–392. https://doi.org/10.1016/j.jbusres.2019.06.027
   Web of Science ®Google Scholar
• Le Cook, B., & Manning, W. G. (2013). Thinking beyond the mean: A practical guide for using quantile regression methods for health services research. Shanghai Archives of Psychiatry, 25(1), 55–59. https://doi.org/10.3969/j.1002-0829.2013.01.011
   PubMedGoogle Scholar
• Léon, F. (2016). Does the expansion of regional cross-border banks affect competition in Africa? Indirect evidence. Research in International Business and Finance, 37, 66–77. https://doi.org/10.1016/j.ribaf.2015.10.015
   Web of Science ®Google Scholar
• Léon, F., & Zins, A. (2020). Regional foreign banks and financial inclusion: Evidence from Africa. Economic Modelling, 84, 102–116. https://doi.org/10.1016/j.econmod.2019.03.012
   Web of Science ®Google Scholar
• Maurer, B. (2012). Mobile money: Communication, consumption and change in the payments space. Journal of Development Studies, 48(5), 589–604. https://doi.org/10.1080/00220388.2011.621944
   Web of Science ®Google Scholar
• Mbiti, I., & Weil, D. N. (2015). Mobile banking: The impact of M-Pesa in Kenya. In Edwards, S., Johnson, S., & Weil, D. N. (Eds.) African successes, volume III: Modernization and development. University of Chicago Press.
   Google Scholar
• McKinnon, R. I. (1973). Money and capital in economic development. Brookings Institution. McKinnonMoney and Capital in Economic Development1973
   Google Scholar
• Memon, A. A., Ghumro, N., Rajput, O., Kumar, S., & Memon, A. A. (2021). Role of foreign banks entry in promoting financial inclusion, Available at SSRN 3850307. http://dx.doi.org/10.2139/ssrn.3850307. .
   Google Scholar
• Mensah, L., Bokpin, G., & Boachie-Yiadom, E. (2018). External debts, institutions and growth in SSA. Journal of African Business, 19(4), 475–490. https://doi.org/10.1080/15228916.2018.1452466
   Web of Science ®Google Scholar
• Morawczynski, O. (2009). Exploring the usage and impact of “transformational” mobile financial services: The case of M-PESA in Kenya. Journal of Eastern African Studies, 3(3), 509–525. https://doi.org/10.1080/17531050903273768
   Web of Science ®Google Scholar
• Nanivazo, J. M., Egbendewe, A. Y., Marcelin, I., & Sun, W. (2021). Foreign bank entry and poverty in Africa: Misaligned incentives?. Finance Research Letters, 43, 101963. https://doi.org/10.1016/j.frl.2021.101963
   Web of Science ®Google Scholar
• Navaretti, G. B., Calzolari, G., Mansilla-Fernandez, J. M., & Pozzolo, A. F. (2018). Fintech and banking .Europeye srl. http://european-economy.eu/
   Google Scholar
• Nawaz, S., Iqbal, N., & Khan, M. A. (2014). The impact of institutional quality on economic growth: Panel evidence. The Pakistan Development Review. 15–31. https://www.jstor.org/stable/24397923
   Google Scholar
• Ouma, S. A., Odongo, T. M., & Were, M. (2017). Mobile financial services and financial inclusion: Is it a boon for savings mobilization?. Review of Development Finance, 7(1), 29–35. https://hdl.handle.net/10520/EJC-83159723e
   Web of Science ®Google Scholar
• Ozili, P. K. (2018). Impact of digital finance on financial inclusion and stability”. Borsa Istanbul Review, 18(4), 329–340. https://doi.org/10.1016/j.bir.2017.12.003
   Web of Science ®Google Scholar
• Peruta, D.M. (2018). Adoption of mobile money and financial inclusion: a macroeconomic approach through cluster analysis. Economics of Innovation and New Technology, 27(2), 154–173. https://doi.org/10.1080/10438599.2017.1322234
   Web of Science ®Google Scholar
• Rojas-Suárez, L. (2016). Financial inclusion in Latin America: Facts, obstacles and central banks’ policy issues.
   Google Scholar
• Rousset, M., Torres, J. L., Lambert, F., Herrera, L., Ramos, G., & Gershenson, D. (2021). Fintech and Financial Inclusion in Latin America and the Caribbean.
   Google Scholar
• Salampasis, D., & Mention, A. L. (2018). FinTech: Harnessing innovation for financial inclusion. In Handbook of Blockchain, Digital Finance, and Inclusion, Volume 2 (pp. 451–461). Academic Press. https://doi.org/10.1016/B978-0-12-812282-2.00018-8
   Google Scholar
• Sengupta, R. (2007). Foreign entry and bank competition. Journal of Financial Economics, 84(2), 502–528. https://doi.org/10.1016/j.jfineco.2006.04.002
   Web of Science ®Google Scholar
• Shah, P., & Dubhashi, M. (2015). Review paper on financial inclusion-the means of inclusive growth. Chanakya International Journal of Business Research, 1(1), 37–48. https://doi.org/10.15410/cijbr/2015/v1i1/61403
   Google Scholar
• Shaw, E. S. (1973). Financial deepening in economic development.
   Google Scholar
• Tchamyou, V. S., Erreygers, G., & Cassimon, D. (2019). Inequality, ICT and financial access in Africa. Technological Forecasting and Social Change, 139, 169–184. https://doi.org/10.1016/j.techfore.2018.11.004
   Web of Science ®Google Scholar
• Villanueva, D., & Mirakhor, A. (1990). Strategies for financial reforms: interest rate policies, stabilization, and bank supervision in developing countries. Staff Papers, 37(3), 509–536. https://doi.org/10.2307/3867263
   Google Scholar
• Voghouei, H., Azali, M., & Jamali, M. A. (2011). A survey of the determinants of financial development. Asian‐Pacific Economic Literature, 25(2), 1–20. https://doi.org/10.1111/j.1467-8411.2011.01304.x
   Web of Science ®Google Scholar
• World Bank. (2018). Financial Inclusion overview. https://www.worldbank.org/en/topic/financialinclusion/overview#1
   Google Scholar
• Zetzsche, D. A., Buckley, R. P., Barberis, J. N., & Arner, D. W. (2017). Regulating a revolution: From regulatory sandboxes to smart regulation. Fordham Journal of Corporate & Financial Law, 23, 31. https://ir.lawnet.fordham.edu/cgi/viewcontent.cgi?article=1450&context=jcfl
   Google Scholar
• Zingales, L., & Rajan, R. (2003). Banks and markets: The changing character of European finance. https://doi.org/10.3386/w9595
   Google Scholar
• Zins, A., & Weill, L. (2016). The determinants of financial inclusion in Africa. Review of Development Finance, 6(1), 46–57. https://doi.org/10.1016/j.rdf.2016.05.001
   Web of Science ®Google Scholar