The Impact of Financial Literacy on Financial Inclusion and Household Welfare in Ghana

Abstract

This thesis was informed by using three existing datasets. The main dataset (RAFiP) was collected as part of a randomised controlled trial conducted in Ghana in 2015 and 2016. Baseline data was collected on 1,441 respondents while endline data was collected on 1,415 respondents. This data covered sections on demographic information, financial literacy, household consumption, asset accumulation, financial inclusion, health expenditure and others. The other two datasets are the sixth and seventh rounds of the Ghana Living Standards Survey (GLSS) that was collected by the Ghana Statistical Service. GLSS6, which was collected in 2012/13, sampled 16,772 households while GLSS7 (collected in 2016/17) had a sample size of 14,009 households. The GLSS surveys cover sections on demography, housing conditions, employment, education, water and sanitation, health, access to financial institutions and insurance services, remittance and household assets, poverty, disability, migration, agriculture, non-farm activities and governance, among others.