Munich Personal RePEc Archive

Can social inclusion policies promote financial inclusion?

Ozili, Peterson K (2023): Can social inclusion policies promote financial inclusion? Published in:

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This study investigates whether social inclusion policies promote financial inclusion. Three social inclusion policies were analyzed: gender equality policies, environmental sustainability policies and social protection policies. The study used the panel fixed effect regression methodology to analyse data from 48 low- and medium-income countries. It was found that social inclusion policies did not have a significant effect on financial inclusion, implying that social inclusion policies do not promote financial inclusion. The older population are less likely to own an account at a formal financial institution in low and medium-income countries that have strong environmental sustainability policies and institutions. The implication of the finding is that the social policies and institutions established to promote environmental sustainability can discourage the older population from keeping their wealth in formal financial institutions.

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