Effect of Financial Inclusion on Income Inequality in Sub-Saharan Africa
South Asian Journal of Social Studies and Economics · pp. 1–15 · Published 8 Feb 2020
10.9734/sajsse/2019/v5i430154Abstract
Aims: To analyze financial inclusion as a channel to alleviate inequality in order to provide insight into the edifice of inequality reduction. Study Design: Dynamic panel study. Place and Duration of Study: Sub-Saharan African countries over the period 2004-2018. Methodology: Using the generalized method of moments (GMM) on a sample of 27 Sub-Saharan African countries. Results: The results show that the estimated financial inclusion index has a negative effect on income inequality. Therefore, the depth of commercial bank branches and the effective use of bank accounts reduce income inequality. Conclusion: Increase financial inclusion as well as the development of financial infrastructure and the provision of specific low-cost services tailored to low-income households.
Cited by 2
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