Koomson, Isaac

Villano, Renato A

Hadley, David

2020

This study examines the impact of financial literacy training on financial inclusion and its intensity using data collected from a randomised control trial. An additive index of financial inclusion is generated from four financial inclusion indicators. After testing for baseline balance and estimating impact, our findings show that beneficiaries of financial literacy training are about 7.2 percentage points more likely to own an account while they are 8.2 percentage points more likely to save. Overall, beneficiaries of financial literacy training had a 9.5 percentage points advantage in receiving financial assistance than their non-beneficiary counterparts. While financial literacy training only showed a significant impact on account ownership for female-beneficiary households, male-beneficiary households also only experienced an impact in their savings behaviour and receipt of financial assistance. Moreover, beneficiaries of financial literacy training are more likely to intensify their financial inclusion and the intensity of inclusion is higher for male and young beneficiary households. The results highlight the need to strengthen financial literacy training in order to close the gender financial inclusion gap.

Applied Economics, 52(4), p. 375-387

1466-4283

0003-6846

https://hdl.handle.net/1959.11/27902

en

Routledge

Intensifying financial inclusion through the provision of financial literacy training: a gendered perspective

Journal Article

Publication