Drivers of financial inclusion in Ghana: Evidence from microentrepreneurs in the Wa Municipality of the Upper West Region

References

• Abel, S., Mutandwa, L., & Roux, P. L. (2018). International journal of Economics and financial issues. A Review of Determinants of financial inclusion. International Journal of Economics and Financial, 8(3), 1–14. https://www.econjournals.com
   Google Scholar
• Aga, G. A., Francis, D., & Rodriguez-Meza, J. (2015). SMEs, age and jobs: A review of the literature, metrics and evidence. World Bank Policy Research Working Paper, 7493.
   Google Scholar
• Ahamed, M. M., Ho, S. J., Mallick, S. K., & Matousek, R. (2021). Inclusive banking, financial regulation and bank performance: Cross-country evidence. Journal of Banking and Finance, 124, 106055. https://doi.org/10.1016/j.jbankfin.2021.106055
   Web of Science ®Google Scholar
• Akudugu, M. A. (2013). Determinants of financial inclusion in Western Africa: Insights from Ghana. Research Journal of Finance & Accounting, 4(8), 1–10.
   Google Scholar
• Allen, F., Demirguc-Kunt, A., Klapper, L., & Peria, M. S. (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
   Web of Science ®Google Scholar
• Amin, S., Yasin, I., & Rutkowska-Ziarko, A. (2023). Diversity inclusion nexus: Assessing the role of ethnic and religious diversity in financial inclusion; a global perspective. Economic research-Ekonomska istraživanja, 36(1), 1205–1225.
   Google Scholar
• Anyangwe, T., Vanroose, A., & Fanta, A. (2022). Determinants of financial inclusion: Does culture matter? Cogent Economics & Finance, 10(1), 2073656. https://doi.org/10.1080/23322039.2022.2073656
   Web of Science ®Google Scholar
• Bani-Khalid, T., Alshira’h, A. F., & Alshirah, M. H. (2022). Determinants of tax compliance intention among Jordanian SMEs: A focus on the theory of planned behavior. Economies, 10(2), 30. https://doi.org/10.3390/economies10020030
   Web of Science ®Google Scholar
• Bekele, W. D. (2022). Determinants of financial inclusion: A comparative study of Kenya and Ethiopia. Journal of African Business, 24(2), 1–19. https://doi.org/10.1080/15228916.2022.2078938
   Google Scholar
• Benni, N., Berno, D., & Del Puerto Soria, M. (2020). Agricultural finance and the youth: Prospects for financial inclusion in Uganda. https://doi.org/10.4060/ca7873en
   Google Scholar
• Bobek, D. D., Roberts, R. W., & Sweeney, J. T. (2007). The social norms of tax compliance: Evidence from Australia, Singapore, and the United States. Journal of Business Ethics, 74(1), 49–64. https://doi.org/10.1007/s10551-006-9219-x
   Web of Science ®Google Scholar
• Bove, V., & Elia, L. (2017). Migration, diversity, and economic growth. World Development, 89, 227–239. https://doi.org/10.1016/j.worlddev.2016.08.012
   Web of Science ®Google Scholar
• Breda, K., & Fahy, J. (2011). Network resources and international performance of high tech SMEs. Journal of Small Business and Enterprise Development, 18(3), 529–555. https://doi.org/10.1108/14626001111155691
   Google Scholar
• Cameron, A. C., & Trivedi, P. K. (2005). Microeconometrics: Methods and applications. Cambridge University Press.
   Google Scholar
• Damodaran, A. (2013). Valuing financial services firms. Journal of Financial Perspectives, 1(1). https://ssrn.com/abstract=3075980
   Google Scholar
• Datta, S. K., & Singh, K. (2019). Variation and determinants of financial inclusion and their association with human development: A cross-country analysis. IIMB Management Review, 31(4), 336–349. https://doi.org/10.1016/j.iimb.2019.07.013
   Google Scholar
• Dikshit, S., & Pandey, A. C. (2021). Role of financial inclusion in realising sustainable development goals (SDGs). International Journal of Research in Finance and Management, 4(2), 35–39. https://doi.org/10.33545/26175754.2021.v4.i2a.103
   Google Scholar
• Diniz, E., Birochi, R., & Pozzebon, M. (2011). Triggers and barriers to financial inclusion: The use of ICT-based branchless banking in an Amazon county. Electronic Commerce Research and Applications, 11(5), 484–494. https://doi.org/10.1016/j.elerap.2011.07.006
   Web of Science ®Google Scholar
• Duanmu, J. L., & Guney, Y. (2013). Heterogeneous effect of ethnic networks on international trade of Thailand: The role of family ties and ethnic diversity. International Business Review, 22(1), 126–139.
   Web of Science ®Google Scholar
• Efma. (2020). Financial inclusion: New ambitions for 2020. www.efma.com.
   Google Scholar
• Emara, N., & El Said, A. (2021). Financial inclusion and economic growth: The role of governance in selected MENA countries. International Review of Economics & Finance, 75, 34 54. https://doi.org/10.1016/j.iref.2021.03.014
   Web of Science ®Google Scholar
• Fouejieu, A., Ndoye, A., & Sydorenko, T. (2020). Unlocking access to Finance for SMEs: A cross-country analysis. International Monetary Fund.
   Google Scholar
• Goel, S., & Sharma, R. (2017). Developing a financial inclusion index for India. Procedia computer science, 122, 949–956. https://doi.org/10.1016/j.procs.2017.11.459
   Google Scholar
• 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
   Web of Science ®Google Scholar
• Hasan, M., Le, T., & Hoque, A. (2021). How does financial literacy impact on inclusive finance? Financial Innovation, 7(1), 1–23. https://doi.org/10.1186/s40854-021-00259-9
   Web of Science ®Google Scholar
• Ibor, B. I., Offiong, A. I., & Mendie, E. S. (2017). Financial inclusion and performance of micro, small and Medium scale enterprises in Nigeria. International Journal of Research - Granthaalayah, 5(3), 104–122. https://doi.org/10.29121/granthaalayah.v5.i3.2017.1758
   Google Scholar
• Isreal, G. D. (1992). Determining sample size. Retrieved September 23, 2009, University of Florida, Institute of Food and Agricultural Sciences Extension Web Site. from http://edis.ifas.ufl.edu/PD006
   Google Scholar
• Kamunge, M. S., Njeru, A., & Tirimba, O. I. (2014). Factors affecting the performance of small and macro enterprises in Limuru town market of Kiambu County. International Journal of Scientific and Research Publications, 4(12), 1–20.
   Google Scholar
• Kane, M. S. (2019). Financial inclusion in micro, small and medium enterprises. Impact of Financial Growth Stages and Financial Literacy.
   Google Scholar
• Kede Ndouna, F., & Zogning, F. (2022). Financial inclusion and gender income inequalities in informal entrepreneurship: The case of Cameroon. Journal of Entrepreneurial Finance, 24(3), 33–47. https://doi.org/10.57229/2373-1761.1443
   Google Scholar
• Khan, Z. U. H. (2022) Economic experiments on tax compliance, harassment bribes, and diverse committees. PhD thesis, University of Essex.
   Google Scholar
• Kim, D.-W., Yu, J.-S., & Hassan, M. K. (2020). The influence of religion and social inequality on financial inclusion. The Singapore Economic Review, 65(1), 193–216. https://doi.org/10.1142/S0217590817460031
   Web of Science ®Google Scholar
• Kulah, J. (2016). Critical study of the challenges faced by small and medium enterprises’ master craftsmen in the welding and fabrication industry in the Wa Municipality. University of Education. http://ir.uew.edu.gh
   Google Scholar
• Kumar, R., & Pathak, D. C. (2022). Financial awareness: A bridge to financial inclusion.Development in practice. Development in Practice, 32(7), 968–980. https://doi.org/10.1080/09614524.2022.2028731
   Web of Science ®Google Scholar
• Kung, L., Cegielski, C. G., & Kung, H. J. (2015). An integrated environmental perspective on software as a service adoption in manufacturing and retail firms. Journal of Information Technology, 30(4), 352–363. https://doi.org/10.1057/jit.2015.14
   Web of Science ®Google Scholar
• Mappigau, P., & Agussalim, M. (2013). Human capital and survival of small scale food processing firms under economic crisis in central java Indonesia. Australian Journal of Business and Management Research, 3(1), 16–29.
   Google Scholar
• Mastercard. (2020). Pay on demand: The digital path to financial inclusion in Africa. Mea.Mastercard.com.
   Google Scholar
• Matindike, S., & Mago, S. (2022). Financial inclusion on Entrepreneurship in South African Townships: Lessons for practioners and policy makers from literature. AfricaGrowth Agenda, 19(2), 22–23.
   Google Scholar
• Mhlanga, D. (2021). Financial inclusion in emerging economies: The application of machine learning and artificial intelligence in credit risk assessment. International Journal of Financial Studies, 9(3), 39. https://doi.org/10.3390/ijfs9030039
   Web of Science ®Google Scholar
• Mhlanga, D., & Henry Dunga, S. (2020). Measuring financial inclusion and its determinants among the smallholder farmers in Zimbabwe: An empirical study. Eurasian Journal of Business and Management, 8(3), 266–281. https://doi.org/10.15604/ejbm.2020.08.03.008
   Google Scholar
• Morgan, P. J., & Long, T. Q. (2020). Financial literacy, financial inclusion, and savings behavior in Laos. In Journal of Asian economics (Vol. 68, p. 101197). Elsevier Inc. https://doi.org/10.1016/j.asieco.2020.101197
   Google Scholar
• Mouton, J. (1996). Understanding social Research. JL Van Schaik.
   Google Scholar
• Ndanshau, M. O. A., & Njau, F. E. (2021). Empirical investigation into demand-side determinants of financial inclusion in Tanzania. African Journal of Economic Review, 9(1), 172–190. https://www.ajol.info/index.php/ajer/article/view/201733.
   Google Scholar
• Ng’weno, A., Oldja, L., Hassan, M., & Kapoor, P. (2018). Demand-side review of financial inclusion for women in entrepreneurship and smallholder agriculture. International Development Research Centre.
   Google Scholar
• Nikaido, Y., Pais, J., & Sarma, M. (2015). What hinders and what enhances small enterprises' access to formal credit in India?. Review of Development Finance, 5(1), 43–52.
   Web of Science ®Google Scholar
• Oppong, M., Owiredu, A., & Churchill, R. Q. (2014). Micro and small scale enterprises development in Ghana. European Centre for Research Training and Development. European Journal of Accounting Auditing & Finance Research, 2(6), 84–97.
   Google Scholar
• Oshora, B., Desalegn, G., Gorgenyi-Hegyes, E., Fekete-Farkas, M., & Zeman, Z. (2021). Determinants of financial inclusion in small and medium enterprises: Evidence from Ethiopia. Journal of Risk and Financial Management, 14(7), 286. https://doi.org/10.3390/jrfm14070286
   Web of Science ®Google Scholar
• Oumarou, I. C., & Celestin, M. (2021). Determinants of financial inclusion in west African economic and monetary union (WAEMU) countries. Theoretical Economics Letters, 11(3), 489–506. https://doi.org/10.4236/tel.2021.113033
   Google Scholar
• Ozili, P. K. (2018). Impact of digital finance on financial inclusion and stability. Elsevier B.V. Borsa Istanbul Review. Borsa Istanbul Review, 18(4), 329–340. https://doi.org/10.1016/j.bir.2017.12.003
   Web of Science ®Google Scholar
• Ozili, P. K. (2021). Financial inclusion research around the world: A review. Forum for Social Economics, 50(4), 457–479. https://doi.org/10.1080/07360932.2020.1715238
   Web of Science ®Google Scholar
• Pahlevan Sharif, S., Naghavi, N., Waheed, H., & Ehigiamusoe, K. U. (2022). The role of education in filling the gender gap in financial inclusion in low-income economies. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-07-2021-0991
   Web of Science ®Google Scholar
• Rahman, M. M. (2015). SMEs and networking: A resource-based view perspective. Entrepreneurship. https://www.researchgate.net/publication/279450110_SMEs_and_Networking_A_Resource-based_View_Perspective
   Google Scholar
• Sakyi‐Nyarko, C., Ahmad, A. H., & Green, C. J. (2022). The role of financial inclusion in improving household well‐being. Journal of International Development, 34(8), 1606–1632. https://doi.org/10.1002/jid.3661
   Web of Science ®Google Scholar
• Sastararuji, D., Hoonsopon, D., Pitchayadol, P., & Chiwamit, P. (2022). Cloud accounting adoption in Thai SMEs amid the COVID-19 pandemic: An explanatory case study. Journal of Innovation and Entrepreneurship, 11(1), 1–25. https://doi.org/10.1186/s13731-022-00234-3
   PubMedGoogle Scholar
• Sekyi, S. (2017). Rural household’s credit access and loan Amount in Wa Municipality. International Journal of Economics and Financial Issues, 7(1), 506–514. https://dergipark.org.tr/en/pub/ijefi/issue/32002/353228?publisher=http-www-cag-edu-tr-ilhan-ozturk
   Google Scholar
• Sekyi, S., Nkegbe, P. K., & Kuunibe, N. (2014). Participation in the credit market by small scale enterprises in Ghana: Evidence from Wa Municipality. African Journal of Business Management, 8(9), 292–299. https://doi.org/10.5897/AJBM2013.7313
   Google Scholar
• Shinozaki, S. (2012). A New regime of SME Finance in emerging Asia: Empowering growth-oriented SMEs to build resilient national economies, ADB Working Paper Series on Regional Economic Integration, No. 104, Asian Development Bank (ADB), Manila, http://hdl.handle.net/11540/1260.
   Google Scholar
• Singh, R., & Roy, S. (2015). Financial inclusion: A critical assessment of its concepts and measurement. Asian Journal of Research in Business Economics and Management, 5(1), 12–18. https://doi.org/10.5958/2249-7307.2015.00002.X
   Google Scholar
• Ssekakubo, J., Nkurunziza, G., Muwanga, R., & Tumwine, S. (2022). Financial literacy and financial performance of micro enterprises in developing economies: The mediating role of credit access. ORSEA Journal, 12(2), 75–89. https://doi.org/10.56279/orseaj.v12i2.5
   Google Scholar
• Triki, T., & Faye, T. (2013). Financial inclusion in Africa. African Development Bank (AfDB).
   Google Scholar
• Trombetta, M., Calvo, M. L., & Casadio, P. (2017). Microfinance Institutions and Micro & Small Enterprises in Ghana: The Potential of the Missing Middle. 1–33. https://www.theigc.org/sites/default/files/2017/03/Trombetta-et-al-2017-Final-report.pdf
   Google Scholar
• Turyakira, P., & Mbidde, C. I. (2015). Networking for SMEs in Uganda: A conceptual paper. African Journal of Business Management, 9(2), 43–49. https://doi.org/10.5897/AJBM2014.7534
   Google Scholar
• Ulyssea, G. (2020). Informality: Causes and consequences for development. Annual Review of Economics, 12(1), 525–546. https://doi.org/10.1146/annurev-economics-082119-121914
   Web of Science ®Google Scholar
• Vandenberg, P. (2009). Micro, small and Medium-sized enterprises and the global economic Crisis, impacts and policy responses. International Labour Organization. Sustainable Enterprise Programme. www.ilo.org/publns.
   Google Scholar
• White, S. (2018) ‘Creating better business environments for micro and small enterprises’, Technical Report, Donor Committee for Enterprise Development,
   Google Scholar
• Woodrdge, M. J. (2006). Introductory econometrics: A modern approach (2nd ed.). Cengage Learning.
   Google Scholar
• World Bank. 2019, 4th Ghana economic update enhancing financial inclusion Africa region
   Google Scholar
• World Bank Group. (2020). Payment aspects of financial inclusion in the fintech era. ISBN 978-92-9259-345-2 (print). ISBN 978-92-9259-346-9 (online). Bank for International Settlements.
   Google Scholar
• Yang, L., & Zhang, Y. (2020). Digital financial inclusion and Sustainable growth of small and micro enterprises—evidence based on China’s New third board market listed companies. Sustainability, 12(9), 3733. https://doi.org/10.3390/su12093733
   Web of Science ®Google Scholar
• Yoshino, N., & Morgan, P. (2016). Overview of financial inclusion, regulation, and education. ADBI Working Paper 591. Asian Development Bank Institute. http://www.adb.org/publications/overview-financial-inclusion-regulation-and-education
   Google Scholar