Intensifying Financial Inclusion Through the Provision of Financial Literacy Training: A Gendered Perspective

Koomson, I., Villano, R.A., & Hadley, D. (2019). Intensifying financial inclusion through the provision of financial literacy training: a gendered perspective, Applied Economics, DOI: 10.1080/00036846.2019.1645943

18 Pages Posted: 7 Aug 2019 Last revised: 15 Jan 2020

See all articles by Isaac Koomson

Isaac Koomson

University of New England (Australia) - UNE Business School

Renato Villano

University of New England (Australia) - UNE Business School

David Hadley

University of New England (Australia) - UNE Business School

Date Written: July 25, 2019

Abstract

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.

Keywords: Financial inclusion; financial literacy; gender; impact; poverty

JEL Classification: C93; D14; D91; E21; G00

Suggested Citation

Koomson, Isaac and Villano, Renato and Hadley, David, Intensifying Financial Inclusion Through the Provision of Financial Literacy Training: A Gendered Perspective (July 25, 2019). Koomson, I., Villano, R.A., & Hadley, D. (2019). Intensifying financial inclusion through the provision of financial literacy training: a gendered perspective, Applied Economics, DOI: 10.1080/00036846.2019.1645943 , Available at SSRN: https://ssrn.com/abstract=3428814

Isaac Koomson (Contact Author)

University of New England (Australia) - UNE Business School ( email )

Armidale, NSW 2351
Australia

HOME PAGE: http://https://www.une.edu.au/

Renato Villano

University of New England (Australia) - UNE Business School

Armidale, NSW 2351
Australia

David Hadley

University of New England (Australia) - UNE Business School ( email )

Armidale, NSW 2351
Australia

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