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Pesque-Cela, V, Tian, L, Luo, D, Tobin, D and Kling, G (2021) Defining and measuring financial inclusion: A systematic review and confirmatory factor analysis. Journal of International Development. ISSN 0954-1748
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Abstract
This study re‐examines the construct of financial inclusion, through a literature review and confirmatory factor analysis (CFA). First, we conduct a systematic review of definitions, measures and data sources. Second, we apply CFA to test two prominent financial inclusion indices. The CFA analysis reveals a high correlation between the ‘access’ and ‘use’ dimensions; hence, indices fail to capture the multidimensionality of financial inclusion. Existing indices tend to be biased towards measuring the supply‐side and quantitative aspects of financial inclusion. The extent to which lower income individuals and smaller firms have been incorporated into the formal financial sector is not captured.
| Item Type: | Article |
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| Additional Information: | This is the peer reviewed version of the following article: Pesqué‐Cela, V, Tian, L, Luo, D, Tobin, D, Kling, G. Defining and measuring financial inclusion: A systematic review and confirmatory factor analysis. J. Int. Dev. 2021; 1– 26., which has been published in final form at https://dx.doi.org/10.1002/jid.3524. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. |
| Uncontrolled Keywords: | 1402 Applied Economics, 1604 Human Geography, 1605 Policy and Administration |
| Subjects: | H Social Sciences > HF Commerce > HF5001 Business H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce |
| Divisions: | Business and Management (from Sep 19) |
| Publisher: | Wiley |
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| Date Deposited: | 04 Mar 2021 12:22 |
| Last Modified: | 02 Oct 2024 10:36 |
| DOI or ID number: | 10.1002/jid.3524 |
| URI: | https://researchonline.ljmu.ac.uk/id/eprint/14550 |
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