Artikel
Does financial literacy improve financial inclusion? Cross country evidence
While financial inclusion is typically addressed by improving the financial infrastructure, we show that a higher degree of financial literacy also has a clear beneficial effect. We study this effect at the cross-country level, which allows us to consider institutional variation. Regarding “access to finance”, financial infrastructure and financial literacy are mainly substitutes. However, regarding the “use of financial services”, the effect of higher financial literacy strengthens the effect of more financial depth. The causal interpretation of these results is supported by IV-regressions. Moreover, the positive impact of financial literacy holds across income levels and several subgroups within countries.
- Language
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Englisch
- Bibliographic citation
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Journal: World Development ; ISSN: 0305-750X ; Volume: 111 ; Year: 2018 ; Pages: 84-96 ; Amsterdam: Elsevier
- Classification
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Wirtschaft
- Subject
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Financial inclusion
Financial literacy
Financial institutions
Financial development
- Event
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Geistige Schöpfung
- (who)
-
Grohmann, Antonia
Klühs, Theres
Menkhoff, Lukas
- Event
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Veröffentlichung
- (who)
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Elsevier
ZBW – Leibniz Information Centre for Economics
- (where)
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Amsterdam
- (when)
-
2018
- DOI
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doi:10.1016/j.worlddev.2018.06.020
- Handle
- Last update
- 10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Grohmann, Antonia
- Klühs, Theres
- Menkhoff, Lukas
- Elsevier
- ZBW – Leibniz Information Centre for Economics
Time of origin
- 2018
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