Mobile Money, Financial Inclusion and Development: A Review with Reference to African Experience

40 Pages Posted: 3 Sep 2020

See all articles by Ahmad Hassan Ahmad

Ahmad Hassan Ahmad

Loughborough University - School of Business and Economics

Christopher J. Green

Loughborough University - Department of Economics

Fei Jiang

Loughborough University - School of Business and Economics

Date Written: September 1, 2020

Abstract

Survey literature on mobile money and its contribution in promoting financial inclusion and development, with a focus on sub‐Saharan Africa. We use taxonomic, descriptive and analytical methods to evaluate the state of knowledge in the area. We analyse how mobile technology in general may contribute to economic development and financial inclusion in theory and practise. We explain the mechanics of mobile money using Kenya's M‐Pesa as a canonical example; and consider whether the literature has fully established the potential economic impact of mobile money especially its contribution to financial inclusion. We also consider market structure, pricing and regulatory implications of mobile money. We conclude by highlighting issues that require further investigation: the take‐up of mobile money; mobile money and financial inclusion; substitutability between mobile money and conventional finance; and regulatory structures for institutions providing mobile money services.

Keywords: Development, Financial inclusion, Mobile money

Suggested Citation

Ahmad, Ahmad Hassan and Green, Christopher J. and Jiang, Fei, Mobile Money, Financial Inclusion and Development: A Review with Reference to African Experience (September 1, 2020). Journal of Economic Surveys, Vol. 34, Issue 4, pp. 753-792, 2020, Available at SSRN: https://ssrn.com/abstract=3684612 or http://dx.doi.org/10.1111/joes.12372

Ahmad Hassan Ahmad (Contact Author)

Loughborough University - School of Business and Economics ( email )

Epinal Way
Leics LE11 3TU
Leicestershire
United Kingdom

Christopher J. Green

Loughborough University - Department of Economics ( email )

York House
Loughborough LE11 3TU
Great Britain

Fei Jiang

Loughborough University - School of Business and Economics

Epinal Way
Leics LE11 3TU
Leicestershire
United Kingdom

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