Olaniyi Evans
Connecting the poor: the internet, mobile phones and financial inclusion in Africa
Pan-Atlantic University
purpose increased adoption internetenabled phones africa caused much speculation optimism concerning effects financial inclusion policymakers media various studies flaunted potentials internet mobile phones financial inclusion important question therefore internet mobile phones spur inclusion financially excluded poor study therefore aims examine relationship causality internet mobile phones financial inclusion africa 20002016 period designmethodologyapproach empirical analysis followed three steps examination stationarity variables testing cointegration evaluation effects internet mobile phones financial inclusion africa 20002016 period using three outcomes panel fmols approach granger causality tests findings empirical evidence shows internet mobile phones significant positive relationship financial inclusion meaning rising levels internet mobile phones associated increased financial inclusion also unidirectional causality internet mobile phones financial inclusion implying internet mobile phones cause financial inclusion study also shows macroeconomic factors capital formation primary enrollment bank credit broad money population growth remittances agriculture interest rate well institutional factors regulatory quality important underlying factors financial inclusion africa originalityvalue literature dearth research internet mobile phones financial inclusion especially africa related studies conceptual microbased little empirical attention relationship causality internet mobile phones financial inclusion fact dearth rigorous empirical studies attributed main cause inadequate policy guidance enhancing information communication technologies roycroft anantho 2003 despite saturation levels developed economies study fills gap evaluating effects internet mobile phones financial inclusion 44 african countries 20002016 period